The covered potential of the Canadian gambling market
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The gambling business in Canada is worth over $12 billion. The federal government gave it a boost last year by adopting Bill C-218. It's a game-changer that will make a strong impact on all types of fast payout casino and the Canadian gambling market in general.
The Canadian gambling industry is governed by provincial rather than federal laws. It is illegal in New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador. British Columbia introduced a new Gaming Control Act with a legal age limit for players and limits on the bet amounts they could make.
Bill C-218 was adopted by the federal government of Canada in summer 2021. It changes Canadian federal laws with regard to online provincially regulated sports betting.
Bill C-218 allows anyone to apply for a license to offer any kind of legal gambling in Canada. The only type of sports betting that the government does not allow is the one that focuses on horse racing events.
The law will affect the entire gambling industry in Canada. It gives them access to a new market that was previously closed for legal reasons. The decision to allow provinces the legalization of online casino games and sports betting means a big market opportunity for these types of entertainment.
Online gambling was illegal in Canada, but the market was quite big. International offshore providers were the main reason for that. The Canadian government introduced a law that would allow them to provide local access to both online casinos and sports betting.
The new legislation legalizing gambling in Canada is expected to boost the gambling market. It is not clear if international companies will be able to continue operating their brands in Ontario, British Columbia, and Quebec without further changes. The potential of the Canadian gambling industry is almost limitless. Canada will use the lessons learned from other countries to make it easier for local providers to adjust to the new rules and regulations.
The decision to legalize online casinos and sports betting in Canada is a bold move designed to make the industry more profitable. It means that recreational players will have access to a huge variety of betting options. Local providers can go global with their services, creating the potential for Canadian online casino to become more successful in the near future.
