The gambling industry is huge worldwide, but how big is it in Canada? The size of the gambling market is dependent on the restrictions and laws on the matter. And the laws on gambling in Canada vary across the country.
On a global scale, the gambling industry is a billion-dollar business. And the economic effect of the gambling industry is clear. The legalization of activities like gambling and betting can generate a quite big amount of money and boost a country’s economy. So, what is the status of Canada’s gambling industry? And what kind of restrictions does it face?
The pandemics effect on gambling
In Canada, the economic impact of the gambling sector fell during the first year of the pandemic. And in 2020 the gambling market size was around 12.75 billion US dollars. However, in 2021 65% of the Canadian population over the legal gambling age was expected to put money into the gambling industry. Either in the form of betting or an online casino. So, even though the industry experienced a fallback in 2020, the end of 2021 showed an increase in online gambling around Canada. Therefore, it looks like it has taken a turn.
The gambling laws across Canada
As in many other countries, gambling laws have a long and complex history in Canada. Until recently online gambling was illegal, but then the government changed the rules. Now there are two types of gambling laws in Canada, one is the First Nation law, and the other is the Provincial law. On a nationwide level, gambling is legal in Canada, however, the provincial law indicates that the different provinces across Canada have the power to legislate in the field of gambling.
Therefore, the same law does not apply all over Canada but differs from province to province. You can run into restrictions depending on which city or province you reside in or visit. In Ontario, for example, the restrictions on gambling make it hard for citizens to gamble in online casinos. So, make sure you check out the local and provincial restrictions before embarking on online gambling.
How online gambling works in Canada?
If you are situated in a province where gambling is legal and if you want to use your possibility to gamble, you should find Canada’s best online casinos. It is important to look for a site that is both trustworthy and well-reviewed as this will indicate its quality. This way you will be sure, that you get fair deals and that you are provided with truthful information on gambling rules and laws.
Gambling online is not illegal countrywide, but as written it can be illegal in different provinces. Among the many gambling sites, you will find sites that offer to bet as well. If you are a sports fan and for example follow every NFL moment, you can bet on your favorite team as well. The same laws apply to betting as to gambling in casinos. And betting on sports is popular across Canada as it is a nation proud of its sports.