Canada has long had a very successful and lucrative online casino gambling industry. While it is only expected to grow bigger and bigger as the years go on, there are some concerns for the industry – and some are calling for more clearly-defined rules and regulations. The great thing about the Canadian market for online gambling is that it is vast. There are plenty of choices for Canadians who wish to play at online gambling sites. Variety is the spice of life, as they say, and competition often breeds excellent benefits for the consumer. However, there are some concerns, as the online gambling market could be considered a Wild West of sorts in Canada. Players need to be vigilant when they are choosing an online casino, as not all operators are trustworthy and legitimate.
Where the Canadian online gambling market is now
What hurts one man can sometimes benefit others. That’s what proved to be the case eight years ago. Over in the United States, they had what is now known as Black Friday – a day when the country’s Department of Justice shut down operators of online poker sites for violating the country’s laws. All those sites were shut down overnight. Operators lost billions in assets, which were seized, and players lost tons of money as well.
Up in Canada, the country benefitted from America’s Black Friday, because a lot of die-hard online poker players moved up north so they could continue to play legally. This was the first big boon to the Canadian online gambling market. Since then, the market has grown substantially not just in online poker sites, but also for online casinos that offer slot games, for example. This attracted more and more iGaming companies to open up and offer their services to Canadians, but also made it harder for players to know whether they were playing at a trustworthy site.
Where the Canadian market is going
With such an influx of iGaming operators flooding the market in Canada, many have called for tighter regulations from the government. That has thus far proven a task too large to handle, especially as the Canadian government has struggled with reigning in land-based casinos. In fact, many have been charged with money laundering and funding terror organizations, for example. This has left the online casino market in the country rather unmonitored, per say.
Still, with the online casino market continuing to boom so large in the country, it won’t be long before the Canadian government starts to take action. The government’s role, in this case, is to provide rules and regulations that not only prevent casino operators from doing illegal things, but also to protect Canadian players. This includes ensuring the technology the operators use is secure and that they don’t leak, share or lose players’ vital personal information. The games must also be up to snuff and give players a legitimate shot at winning, and not be fixed in the operators’ favor.
Ironically enough, it may be in the Canadian players’ best interests if their country’s government eventually follows suit with what the U.S. is doing in highly regulating the online casino market. That could lead to better protections and an overall better experience.
In the meantime, check out the site below if you are looking for a reputable online casino in Canada.