The Emergence of New iGaming Regulations in Canada
Canada is divided into 10 provinces, which are all self-governing institutions, with the federal government delegating authority to lieutenant governors. Although it is illegal to operate an online casino from Canada, many residents use alternatives like Genesis online Canadian casino as it is an offshore, legal and licenced casino. However, in the recent years things have been changing as Canada sees the emergence of new regulations in the iGaming sector.
The Current iGaming Regulations
As technology advanced, online casinos developed their own websites and even mobile apps. Unfortunately, internet gaming in Canada falls into a grey zone. This is due to the fact that internet gambling is not technically legal. However, it is illegal to run an internet casino without a government licence, and the country’s government will not give any such licences. This leaves only one alternative. To play online casino games on offshore sites.
Ontario iGaming Market
In September 2021, the Alcohol and Gaming Commission of Ontario opened registration for private operators seeking to participate in the online gaming industry. iGaming Ontario is now working on the final parameters of the commercial agreement. In fact, in the summer of the same year, the Alcohol and Gaming Commission drew up a term sheet for the commercial agreement. Today, drafts are available to prospective players who registered through the portal and signed a non-disclosure agreement.
Single-event Sports Betting
In June 2021, Bill C-218 was passed by the Senate, the Safe and Regulated Sports Betting Act. This amendment of the Criminal Code is to empower provincial governments to decide when and how to operate single-event sports betting operations inside their borders. Furthermore, once it obtains Royal Assent it will become law. So, according to bill C-218, people can now gamble on races, fights, single sporting events, or athletic contests much to the province authority’s disappointment.
Impact of New iGaming Regulations
Until recently, online gambling was not widely accepted in Canada. Prior to the implementation of legalized gambling, Canada was seen as a hostile environment to all forms of gambling. Only by using offshore gambling sites gamblers could wager on their favourite sports. However, new regulations have now been approved. The exponential growth of Canada’s online gaming market will now cause a shift from Canadian citizens playing on offshore sites to playing on one of their local province’s providers. Thanks to the new regulations new partnerships will be formed with trustworthy establishments. Thus, helping to create a safe gaming industry that will attract and protect its players more than ever.
Conclusion
The most recent reports regarding online casino gaming could completely transform Canada’s gambling sector in the long run. We can expect the betting industry to grow from its now CS$70 million dollars to a predicted C$1.86bn in the coming years.
Whereas in the past the majority of players chose to wager on offshore gambling sites, this is now changing. The online gaming market is now thriving throughout the country and players have an array of alternatives. All they have to do is select a licenced and reputable website.
