When it comes to gambling, each country can be likened to a cocoon, with each nurturing gambling uniquely. And while some countries embrace gambling, others either ban it expressly or leave a lot of gray areas to be interpreted by players themselves. This blog post looks at some of the most interesting facts about gambling in Canada, a country falling in the latter category.
1. The Canadian online gambling market makes the top ten
The Canadian online gambling market turns in impressive figures, both in revenue and the number of people who gamble online. According to recent statistics, there are a whopping 19 million people who place wagers online, with online casinos such as those you will find at https://runcasinosca.com/payments/skrill/ making it easy for Canadians to deposit funds using e-wallets such as Skrill. Annual revenues are estimated at four and sixteen billion, coming from foreign gambling sites and local casinos, respectively. It didn’t come as a surprise when the country ranked eighth in a recent “biggest online gambling markets in the world'' listing.
2. Sports betting is the most popular among Canadians
Sports betting takes the top spot in terms of popularity. Other gambling offerings follow, with a good number of residents participating in lotteries, scratch cards, and table games from time to time. Notably, bingo is a favorite among women, who take up about 43% of the gambling population.
3. There’s confusion surrounding gambling in offshore gambling sites
Gambling in Canada is legal so long as the casino operator is licensed within the country. That rule is, however, open to debate because it fails to mention where offshore gambling sites stand. This is precisely why so many people gamble on offshore sites without any repercussions. Most experts in the industry even recommend offshore gambling sites more because of the added benefits that come with them, including added security.
4. Single bets are not permitted by law
Straight bets or single bets, where the player only backs the outcome of a single sports event are restricted. Players, therefore, have to always go for parlays, where a ticket backing several sports events is submitted to the national sports betting program. This is one of the reasons why foreign betting sites have come to be so popular among Canadians.
5. Gambling is regulated at the province level
The Canada Criminal Code of 1892 deems gambling illegal. Section 207 of the same code, however, provides a leeway for provinces to manage gambling within their boundaries. That led to ten out of the thirteen provinces and territories in Canada establishing gambling commissions to oversee all gambling activities. Furthermore, province-dedicated gambling sites offering a wide range of gambling options from sports betting to casino games such as slots emerged.
6. Less wins to keep the taxman at bay
The cost of running a physical casino establishment is always higher compared to that of running a virtual one. For this reason, the Return to Player rating in the latter will always be higher by at least 30%. This is a fact well-known to all punters, including those from Canada who have nearly 3000 online casinos at their disposal.
Playing in an online casino doesn’t mean that you win less either, with progressive games making it possible to bag life-changing wins. The returns are not taxable, but the taxman will be interested when a good run is noticed or when you decide to turn gambling into a full-time activity.