The iGaming scene in Canada is somewhat behind that of the US things are starting to pick up; however, there is still a lot to do if they want to catch up. There are several differences between the two markets, and as more operators are set up in Canada, things are set to grow. Big names are entering the arena with bet365 Ontario Account Migration allowing existing customers to move over to the Canadian platform. So what differences are there between the two markets?
The Legal Issues
Gambling is a bit of a grey area in Canada. It can be difficult for players to understand how to find safe sites because the authorities are not working to regulate all licensed online gaming sites. In America and individual states were given the power to regulate and license online casinos in 2011. This has changed gambling and iGaming in America, and there has been a massive surge in companies setting up there.
A Canadian Tax Haven
Because the government is not responsible for regulating online gaming. It is also not that interested in the winnings players may take from a casino. Therefore, there is no tax to pay, and if you are a lucky winner in Canada, you keep everything you win. In the US, players are not so fortunate because every win is declared to the authorities by the operator using a format W–2G, which notifies them exactly how much you won, and you will then receive a deduction for 24% of your winnings
The lack of licensing and registration in Canada can make it hard to know where you can iGame safely. Sticking with big names and companies you have heard of is the best idea. In the USA, because online gaming is so heavily regulated, it is rare for offshore sites to be awarded a license. It is easier to guarantee you are playing with a reputable casino because all you must do is check the licensing and registration details that any reputable casino will give you with the gambling board. Ensuring you stick to casinos that offer verified electronic wallets, such as PayPal, Neteller and Skrill, will also help you stay safe when playing online. Players are always advised to use these rather than handing over bank details directly to a site.
There are still many differences between the two markets. Of course, one of the benefits the US has from legalising iGaming is the massive revenues they can make from the operators and the taxation of winnings. If Canada was to follow suit, it could do the same and increase money coming into the country legally. Conversely, there are still states in the US that refuse to legalise or have anything to do with gambling, and given the time passed since the laws changed, it seems that they are unlikely to want to join the legalised gambling scene any time soon.