Online casinos are a rage among new players looking to get in on the action each day. This surge in masses flocking to online casinos over the years has caught the attention of regulatory bodies worldwide. Understandably, each region or country has its own set of laws to protect the interests of its residents. While some have banned any form of gambling altogether, others have embraced it with open arms. Canada, meanwhile, has taken a different approach to online casinos under its jurisdiction. So let us look at what the Land of Maple Leaf has in store for you when it comes to online casinos.
Technically, no. But hold on, there is a catch. While online casino gambling is not legal, it is not prohibited either. In fact, no Canadian resident has ever been prosecuted for playing at an online casino thus far. Gambling in Canada is an awesome form of entertainment and also a good stimulant for economic growth. It is so famous that the industry's gross turnover was around C$392 million in 2019 itself. Meanwhile, winnings from online casino activities are not taxable unless it is a form of employment for a resident. Additionally, here are some important points and takeaways from Canada's online casino industry over the years.
Unfortunately, while the Canadian government does not grant licences to local online casinos, there are no regulations on the offshore-based ones. Therefore, there is no law against them from accepting Canadian residents. Additionally, the Criminal Code of 1970 allows individual provinces to decide their own licencing rules and regulations without interference from the federal government. This led to the formation of provincial gaming authorities all across the country. These gaming authorities now have the authority to legalize whichever gambling activity they see fit for their residents. This has eventually led to different laws in the many provinces of Canada.
Thus, a province can decide whether it wishes to legalize a specific type of computer-operated gambling within its territory. It is this grey patch in Canada's casino industry that causes certain unregulated activities, which turns to confusion among players. However, although illegal, there are certain online casino providers that operate illegally from within the country itself, solely for entertainment purposes. However, whether you play at an online casino that is based in Canada or an offshore one, it is always advisable to choose a reputed and licenced online casino. This will provide you with sufficient cover against any online casino you may come across.
Canada certainly has a grey market when it comes to online casinos in that there is no prohibition, but neither is it legal. Additionally, the Criminal Code deems it illegal for Canadian residents to host an online casino, it has not prohibited the use of offshore online casinos. To add to it, Canada does not have a national gambling authority, instead, it allows each province to legalize what it sees as fit for its own residents. This disparity in regulations will take a while before they find an amicable solution to it. However, this does look set to change in the future.
According to recent estimates, Canada currently employs over 180,000 residents in the gambling sector alone. Meanwhile, the average salary of an employee is around $65,000. In 2017 alone, the casino sector created about $17.1 billion and this is only going to grow over the coming years. Thus, it is not only boosting the economy but also supporting the local GDP. There is no doubt that liberalization and regularization of the industry would be more beneficial to everyone. The future does look bright for Canada's online casino industry. For now, however, you can be sure that you are legally safe playing at an online casino in Canada.