iGaming is amongst the fastest growing industries in the world. It continues to grow popular as a form of entertainment for internet users,ut what is iGaming? The term iGaming is used in reference to any kind of betting online where players can wager on the future outcome of an event or a game. The term covers popular online betting activities like online casinos, sports betting, eSports betting and poker. The main difference between iGaming and other forms of gaming online is that iGaming involves placing wagers i.e., gambling. The iGaming industry is quite complex as it incorporates elements of traditional gambling with new technologies from online gaming to create a unique experience for online gamblers. b
iGaming dates as far back as the early 1990s. The internet had just been made available for commercial purposes and its early uses were unrestricted. There was no security, no privacy and consequently making payments online was a challenge. Later in 1994, the Caribbean nation of Antigua and Barbuda passed the Free Trade & Processing Zone Act. The act gave companies the liberty to apply for licences to run and manage online casinos. In 1996, two years after the act was passed, the Kahnawake Gaming Commission (KGC) was established. The main role of the commissions was to licence casinos operating online.
Within a year of the launch of the KGC, a good number of online casino sites emerged. Fast forward to 2010 and the advent of smartphones and high-speed internet, iGaming companies rushed to capitalize on the fast-growing technologies and started to produce several mobile applications for online casinos. Since the 1990s, the iGaming industry continues to grow with new technological innovations and features that are changing the way we place bets and gamble online.
iGaming Canada is booming. The country has one of the fastest growing online gambling industries in the world with more than 19 million active gamblers. Canada is also ranked eighth in the world amongst countries that spend the most on gambling. Many Canadian provinces are taking advantage of the fast-growing industry to create new iGaming markets and expand existing ones.
In this article, we will be discussing everything you need to know about the iGaming industry, and the regulations that govern the practice in Canada.
Popular iGaming Activities
The term iGaming covers a good number of gambling-related activities that are conducted online. These include online casino games, sports betting, online poker, and fantasy sports. Online casino games offer players the opportunity to place bets on the games you would find at a conventional land-based casino online. These games include slots, table games like blackjack, baccarat, roulette etc.
Sports betting is another popular alternative. Sports fans can bet on a good number of sports games, tournament, and leagues from popular games like football, basketball, and hockey to surfing and cricket. You can as well bet on esports and fantasy games like Dota 2, League of Legends and FIFA.
Benefits of iGaming for Canadians
iGaming platforms is convenient and accessible. The ease with which you can place bets online and win real money is unmatched by conventional land-based casinos. The iGaming industry gives bettors the chance to place bets from wherever they are using convenient and secure payment methods.
The variety of gaming options available at online casinos is almost limitless. Players have access to an incredible number of games, including eSports, lotteries, casino games like slots, and table games. Try as they might, traditional gambling structures cannot accommodate such extensive offers in one place.
Another benefit of the iGaming industry for punters in Canada is the generous promotions and bonuses that are available. These bonuses are designed to entice new players to sign up for services while motivating returning players to keep placing bets. Claiming promotions and bonuses is a low-risk way to gamble. It grants you the opportunity to test out a service without spending much of your own money.
Furthermore, there is no lack of social interaction and a sense of community. Thanks to the incorporation of live chat features and chat forums, you can be a part of exciting exchanges, suggest improvements and create relationships with other players form around the world.
iGaming Regulations in Ontario
While the rest of Canada’s gambling regulations are still murky, Ontario has taken the lead to create a unique structure to conduct and manage gambling activities within the province. Canada’s federal regulations make all forms of gambling illegal in the country, but section 207 of the Criminal Code gives provincial governments the authority to regulate gambling activities within their province. Most provincial governments have created Lottery Corporations to that effect. In addition to managing and conducting gambling, Ontario’s regulatory body AGCO (Alcohol and Gambling Commission Ontario) registers iGaming operators and gives them the options of operating legally within the province.
Operators seeking to be registered with the Alcohol and Gambling Commission Ontario must submit to strict responsible gambling measures including even stricter Know Your Customer guidelines. Online gamblers in Ontario must complete several steps in the registration process including submitting a live video as proof of their identity. Operators must also provide players with other responsible gambling tools and resources like time-outs, self-exclusion measures, deposit limits, and time limits. Click here for more information about Ontario’s responsible gambling regulations.
Top iGaming Platforms in Ontario
The best Ontario online casino offers players a good number of features and services. These include good quality games, dedicated mobile applications, live streaming options, in-play betting, and a good range of payment methods. These leading iGaming platforms use software designed by reputable developers with highly immersive features. You can also take advantage of chat and multi-players options for an interactive experience.
The platforms themselves are well designed and easy to navigate. New and seasoned players may have unrestricted access to games, payment options and support features without breaking a sweat. Enjoy customer support features like live chat, email and telephone lines that are available for players round the clock. Support agents are usually knowledgeable and respond promptly to your requests.
Tips for Safe and Enjoyable iGaming
Here are some tips for staying safe on iGaming sites and having an enjoyable experience.
First, only sign up to iGaming casinos and platforms that are reputable and licenced. If you are playing from Ontario, check that the casino is registered with AGCO in addition to holding licences from recognized regulatory authorities like the Malta Gaming Authority, the United Kingdom Gambling Commission, and the Kahnawake Gaming Commission (KGC).
Be responsible while you gamble. Have a budget for your gambling activities and stick to you. Make sure that you are not spending more than you can afford to lose. It also helps to set time limits or make use of the other responsible gambling tools that are available on iGaming sites. To learn more about responsible gambling measure and resources, visit this website.
Protect your personal and financial information. Only play on iGaming sites that use SSL encryption technology to secure your data. You may also opt for payment methods like e-wallets and prepaid cards or cryptocurrency that do not require you to share sensitive financial information with iGaming operators.
iGaming Trends and Future Outlook
Changes in the industry are fueled by technological advancements and innovations. As new technology trends continue to evolve, there are endless possibilities for the future. iGaming software providers are constantly on the prowl for the next best addition or feature. We can expect more iGaming operators to incorporate virtual reality and augmented reality in iGaming. VR and AR gaming systems generate realistic and immersive sensations which heighten the overall gaming experience for players. These features have already been incorporated in other online gaming sectors and we can expect a crossover to the iGaming industry.
There could as well be potential changes in Canada’s iGaming regulations as the federal government warms up to the idea of regulating gambling in the country. Outside of Ontario, legal online single-game sports betting is expanding across Canada quickly. We can expect these services to become more available in other provinces as they gear up to launch new iGaming markets.
Understanding the history and progress of the iGaming industry is crucial if you must understand its current successes. It is an essential step in exploring the exciting possibilities within the industry. iGaming Canada is an influential and fast rising market for online gambling services. The internet and constant technological innovations contribute to its exponential growth. Punters in Canada are also drawn by the convenience of placing bets and gambling online. It is important to stay safe and be responsible while using the services of any iGaming operator. Stay update to date with the latest iGaming news and check the local regulations that govern gambling activities in your province.
Frequently Asked Questions about iGaming
What is the legal age for iGaming in Canada?
The legal age for iGaming in Canada is 19.
How can Canadians deposit and withdraw funds in iGaming platforms?
iGaming platforms offer players a good number of deposit and withdrawal methods include bank transfer, e-wallets, and cards. Check the platform’s page to see the banking options they offer.
Are winnings from iGaming taxable in Canada?
Unless you are a professional gambler, winnings that are earned through recreational gambling on iGaming platforms are not subject to taxation in Canada.