Online gambling started out as somewhat of a novelty over two decades ago. However, this industry has gained a lot of traction in the past few years and is now a competitive source for gaming. The prediction from multiples sources indicate that the online gambling industry will likely increase to north of $1 trillion by the year 2021.
A major driving force behind gambling online is the convenience that it offers players across the globe. There is no longer a need to waste time and money traveling to a brick-and-mortar casino when the same quality is available online.
Although the massive growth of online gambling has created a massive industry, there are constantly concerns from players and politicians alike. The concerns revolve around the safety and security of online casinos, especially as far as bonuses and promotions are concerned. Many countries around the world have restricted or just plain banned online gambling. However, the reasons for distrust and their remedies are far more complex.
Online Casinos In Canada
For the country of Canada, online gambling law is about as confusing as it gets. The control over remote gambling services is decided on a provincial level, but there is no specific law that prohibits accessing gambling online from an offshore operator. While Canada does have many of its own online casinos run by the government, many players still prefer to gamble with private operators.
Since Canada does not outright ban privatized online casinos, the country has set itself up for the ideal situation. A primary concern is the well-being of players who may be at risk of developing a gambling problem. For this reason, the regulation of online casinos is important and it also does not create government overreach. Another obvious factor behind regulation is the revenue generated from taxes on online gambling. The funds can go a long way in helping ailing economies get out of the hole.
BCLC and OLG CA
In 2010, a province in Canada opened the first online casino in North America that is operated by the government. The British Columbia Lottery Corporation, or BCLC, launched an online casino with online slots, table games, and later added the live casino format in 2011. If this name sounds familiar, it’s because the corporation is in charge of popular products such as BCLC Lotto Max and BCLC Keno. A similar product line followed suit from OLG CA as the government agency created an online casino to complement its lottery.
While these two bodies control a lot of provincial online gambling, Canada does have other licensed and regulated options. The Kahnawake Gaming Commission is a well-known agency in the country, and it controls the licensing for many privatized online casino operators. This commission allows online casinos to offer content to players, but they are monitored for security and fairness. A part of the regulations requires online casinos to be committed to responsible gambling and player advocacy. Ultimately, the player wins with the freedom to choose and the regulated Canadian market facilitates future growth of online casinos.