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What Will Be the Future of the Gambling Industry in Canada

What Will Be the Future of the Gambling Industry in Canada

Canada is one of the countries with a rather open-minded approach when gambling is concerned, and the figures come to submit evidence for this. What the future holds is a question many people seem to be asking themselves. Whether or not the gambling industry in the country will continue to thrive at the rate of knots is yet to be seen, and there are several trends that should be taken into account in order to get an idea of what the future possibilities might be.

Canada’s Stance on Gambling

One of the key reasons why the online gambling industry in the country is fast-tracking is that the stance of the government towards gambling is not that tough as is the case in some other countries.

Here, we will provide an overview of the Canadian gambling regulation and laws, which will help you get a better idea of how matters stand with the industry. First off, Canada poses as one of the friendliest territories to all forms of gambling as in practice, the government has not endeavored to prohibit it outrightly even in the past. Interestingly enough, the history of gambling in Canada dates long before the 1490s.

According to the Criminal code of the country that took into effect back in 1892, gambling was considered legal under certain conditions. Despite the fact that certain small changes were introduced to the legislation of the country, the most sweeping shift took place back in 1970. Then, the government of the country introduced several changes to the Criminal Code, thanks to which each individual state was able to hold sway over gambling.

What does this mean is that the individual provinces are given the freehand to come up with legislation about gambling on their own, and to decide whether to legalize this form of entertainment or not. Each of the ten provinces is considered a self-governing entity, meaning that gambling will fall under the oversight of different state authorities. As we can see today, this shift in the legislation of Canada brought about the creation of one thriving industry, and it is reasonable to consider that one of the key contributors to the growth the gambling industry is seeing in the country is the acceptance from the legislators.

One interesting thing here is that there are a couple of provinces that still take a dim view over gambling.

In this relation, Bill 152 poses as a noteworthy piece of legislation because according to it, Ontario puts a ban on advertisements of illegal online gambling sites, especially the ones that target citizens of the province.

Prospective Developments in the Gambling Industry of Canada

In essence, the transition from land-based casinos and bookmakers to virtual such has developed into an inexorable trend not only in Canada but on a global scale. As is the case with many other territories where online gambling is legalized, this led to a marked decrease in the market share of the brick-and-mortar establishments. The advancement in technologies seems to be one of the key contributors to the ever-growing popularity of online gambling as virtual players and sports bettors are buoyed mainly by the unmatched freedom they can enjoy.

The casinos that function across the territory of the country are prolific because lovers of that kind of entertainment will have a choice from over 100 brick-and-mortar casinos. Not to mention the huge number of online casinos that are operating across cyberspace and that cater to the needs of Canadians.

As it seems, the gambling industry in Canada might be on the cusp of some major changes, especially when single-event sports betting is concerned. What poses as an issue, however, is that the government seems to put much resistance to the legalization of this form of gambling. For that reason, a large number of gambling aficionados are looking for a solution to this problem either by using the services of offshore bookmakers or simply by going to Niagara Falls or New York.

While getting to know the gambling industry in the country, we should also mention lotteries as they have developed into an indispensable part of the lives of Canadians. Despite the fact that the sales of lottery tickets saw a small decline in 2019, the revenues that are generated from this form of entertainment have reached nearly $3 billion. As it seems, local lotteries struggle not to let online gambling websites penetrate the market. What will be the future of this segment of the gambling industry is yet to be seen because the situation continues to evolve.

When all is said and done, it is reasonable to expect that the gambling industry in Canada is most likely to keep on thriving in the years to come as well. Judging from the revenues, Ontario is one of the provinces that do particularly well. The data also shows that provinces the likes of Quebec, British Columbia, and Alberta enjoy high levels of growth and whether or not this tendency will be observed in 2020 is yet to be seen.