Canada has gone through several phases in terms of the policies adopted with respect to gambling. We know that in the past it was legal, but after the arrival of the British in the Country, casino gaming was banned because there was concern about the moral conduct of citizens.
Later, games such as Bingo and Lotteries were allowed, but only for the purpose of raising funds or for charity. Through the centuries, we have arrived at the current era which allows the various provinces to manage and regulate the betting sector, with the possibility of issuing licenses for the management of remote gaming activities.
This regulation made it basic for the provincial government to launch digital iGaming sites run by commercial companies. Prior to this legalization, bookmakers were not allowed to operate legally in the market.
In fact, several offshore sites existed, and the transfer of offshore and illegal companies increased so much in Canada, that investigations by law enforcement and government officials were necessary.
One of the key provinces for iGaming in Canada is certainly Ontario, the only legal province expected to increase its online casino gaming operations. In fact, sports betting has recently been legalized in Canada and is currently booming.
Preceding to this legalization, some betting opportunities existed for residents to explore single betting operations. However, since the authorization, Ontario has become the focal point of gaming and wagering propositions, assuming a pivotal role in this new era of iGaming.
For example, on Spike Slot Canada, you will find a lot of information and various features introduced after the legalization of gambling in Canada. We are speaking about Canada’s largest community dedicated particularly to online slots.
Despite the emergence of several provincial gaming sites for iGaming in Canada, even today, around $4 billion a year is still spent by Canadians on illegal and unlicensed offshore Sports Betting sites.
These are websites not legitimized to operate by the provincial government, which have been investigated by the country’s administrations.
Canada’s goal is to regulate and enrich the supply of gaming while maintaining control and implementing policies to protect gamblers in order to prevent problems related to gambling and pathological gaming behavior.
The new set-up to structure the operation of the iGaming market provides for any company wishing to operate an online casino or gambling-related site in Ontario will have to follow a dual track, namely:
At present, there is no particular limit to the number of licenses granted, which can also be applied for by foreign companies.
As far as taxes are concerned, they are not calculated on the revenue generated by the licensing site, but developers have to deposit their GGR (Gross Gaming Revenue) in a different bank account by moving funds to a secure iGO bank account.
iGO as a legal earner will pay the full tax on the gross revenue produced by regularly licensed iGaming sites. This efficiently allocates the tax to the operator partners who will recover their GGR in the revenue-sharing state.
Obviously, the Ontario gaming sites will have to be separated and distinguished from the other online casinos controlled by other operators. Any company offering gaming-related benefits and developers will have to be registered. Each operator must have a specific license for each brand it intends to use in Ontario.
The betting market in Canada is particularly thriving, as residents love to entertain themselves with online games and spend considerable sums on these betting activities every year. With each passing day, the world of gambling is enriched by new sports betting apps and new sites that are more and more comprehensive and full of advantageous offers such as Welcome Bonuses.
The legalization of gambling has in fact encouraged a plurality of new sites and the creation of a safer and more protective space for casino users.
The new perspectives of Ontario iGaming herald a positive development, while respecting bettors’ protection policies. Although there are a number of information sources available on the web, where to learn about the risks involved in betting activities, we remind you to limit your betting with real money.
Casino gaming is risky and it is very easy to lose your bankroll, so we invite you to test the free demo versions of the best slots games available on our site.
If you are interested in even more entertainment-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
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