Gaming and Gambling Regulation in Canada
Online gambling is gaining popularity in Canada. Video games industry grew at a rate of 9.51% in 2022 and touched a 2.8 billion USD figure. The industry is expected to grow to reach 3.53 billion dollars in 2023 and 4.55 billion by 2027.
In April last year, Ontario opened a new path for gambling businesses and sportsbook managers to launch their virtual casinos. The government amended the legislation so that businesses could apply for casino licenses and begin operations.
Alberta allows foreign gambling companies and third-party gambling firms to run their businesses in the state. In states other than Alberta, gambling is operational but these activities are run and managed by government agencies. Bill C-128 was passed recently and allows online casino and sports betting fans to place single-event bets.
Mobile technology is becoming more powerful each year and mobile users are increasing at a steady rate. More people play casino games and other conventional games on mobile than on desktop. Online gambling is convenient and offers attractive bonuses and virtual money to attract players.
Mobile technology is becoming more powerful each year and mobile users are increasing at a steady rate. Online gambling is convenient and offers attractive bonuses and virtual money to attract players.
2023 Outlook. Gambling and gaming outlook in Canada in 2023 can be assessed by looking at what’s happening in other countries. Even in countries where there are strict laws for gambling, the governments are slowly easing up the regulations to promote online casinos and sportsbook platforms. Canada is already making it easier for online casino companies to run their business in the country and it will promote it further in 2020.
Canada was once known as one of the strictest countries in gambling governance. Today, the government is relaxing its regulations and more companies are setting up their businesses in the country. The general consensus is that iGaming and gambling industry will continue to grow here in 2023 and many years to come.