Reasons Behind Canada’s Success in the iGaming Market

Simi Khurana | Dec 15, 2022

Pexels David Vives Vegas - Reasons Behind Canada's Success in the iGaming Market

Image: Pexels/David Vives

With the new developments in the iGaming industry in Canada, you can now engage with legal activities in Ontario. But this isn't the only reason behind Canada's success in the betting world.

We'll take a look at the main contributing factors to the rise of iGaming and whether the recent changes have had any major effects.

Factors Contributing to the Success of iGaming CA

There are several reasons why the iGaming realm is brimming in the country, especially if you compare it to the boarding states. While some changes are recent, others have been successful contributors for a few decades now. Let's look at the main factors:

New Legal Marketplace & Licenses

You may be familiar with the Kahnawake Gaming Commission – the regulatory body that's been operating in the country since 1996. However, while this regulated the iGaming market within the Mohawk Territory of Kahnawake, the remaining provinces were left in the gray area. However, this hasn't stopped players from joining offshore sites, as Canada hasn't banned the act.

A recent change was the introduction of the AGCO – the Alcohol and Gaming Commission of Ontario. Now that the market is fully regulated in the province, players from Ontario have safe and reliable choices for their gaming activities. Whether you are into sports betting or casino games, you've got various choices.

Top-Notch Online Casino Sites

Even though, apart from Ontario, the rest of the Canadian players have to settle for offshore sites, the choice is excellent. There are plenty of high-quality online casinos that accept players from Canada.

We're talking about sites that have a proper license from the UKGC, MGA, Curacao, or others. Joining one of these platforms will grant you a safe, reliable, and fun experience. Players can enjoy various games, payment options tailored to Canadians, and 24/7 customer support.

Hefty Bonuses

The iGaming industry found a way to reward its customers by giving them bonuses, and operators catering to Canadians didn't shy away. In fact, the bonuses contribute to the iGaming craze.

Players from CA can enjoy an abundance of deposit and no-deposit offers. The no-deposit deals have so far made the biggest influence, as they allow gamers to try out the gaming platforms for free.

Availability of Payment Methods

CA players have a major advantage compared to players from the rest of the world, and it's called Interac. This inter-banking network has allowed players to fund their accounts and ease money transactions.

The fact that gamers can make safe, fast, feeless, and secure transactions through a payment option they trust has surely contributed to the success of the iGaming market in the country.

Convenience of Use

Convenience may be the biggest factor why iGaming is so successful. You can engage in many online games or place bets without going places. Unlike in the US, where some states (where online gambling is legal) ask you to be physically present with the casino or bookie to place bets through your phone, Canadians can do it online.

What's more so, with the emergence of HTML5, software providers now create mobile-optimized games. This has prompted bookies and online casinos to design mobile-optimized platforms, allowing even further flexibility.

Limitless Options

Back in the days, when Canadians had to travel to a land-based casino or bookie, they had to settle for the owner's choices. Today, all you need is an Internet connection. In fact, the better the network coverage and Internet speed, the better the results.

You can now find thousands of slots, live dealers, table games, and even scratch cards online. The same applies to sports fans – a wide range of odds are available, and they are competitive.

No Taxes on Winnings

That's right – one of the most popular factors contributing to the rise of the iGaming industry in Canada is the no-tax policy. As the Government finds that online casino or sports betting winnings aren't a constant source of income, the winnings aren't subject to tax. In other words, you get to keep whatever you win while gambling.

See:  9 Consumer Trends Currently Impacting the Gaming Industry

This is a drastic change to the US, for example, where taxes are on both federal and state levels. The federal taxes are as high as 24%, while the state taxes vary. This has prompted many US gamers to travel to Canada and use Canadian payment methods and services to enjoy taxless online casinos or betting adventures.

Conclusion

While many factors influence the success of the iGaming industry in the country, the newly legalized market has surely played a large role. The fact that Canada has rather liberal views on gambling activities has also influenced the rise of the iGaming market.

Combine tax-free, safe, and multi-choice platforms, and you get the formula for Canada's iGaming success.


NCFA Jan 2018 resize - Reasons Behind Canada's Success in the iGaming MarketThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Reasons Behind Canada's Success in the iGaming MarketFF Logo 400 v3 - Reasons Behind Canada's Success in the iGaming Marketcommunity social impact - Reasons Behind Canada's Success in the iGaming Market

Support NCFA by Following us on Twitter!







NCFA Sign up for our newsletter - Reasons Behind Canada's Success in the iGaming Market




 

Leave a Reply

Your email address will not be published. Required fields are marked *

4 + eleven =