In Canada, the online casino industry was in a grey area for a few years. Both casinos and players find it to be challenging that no specific entity is in charge of licensing the Canadian online casino industry.
Currently, all online casinos are considered to be e-commerce sites in the Canadian market.
But, the information presented in the legislation is a little confusing, because Canadian banks are not permitted to process payments that are related to gambling. Hence, there was a requirement for casinos as well as citizens of Canada to handle things tactfully. Thus, most of Canada uses e-wallets such as Neteller and Skrill to process these payments. Moreover, there are no risks associated, when players use these payment methods. In fact, these payment methods are widely preferred in several countries as they enable faster withdrawals.
In Canada, do regulations related to casinos exist?
Since there isn’t one singular entity that handles licensing and regulating casinos, they wouldn’t be called regulations. However, many provincial legislators devised their own gambling acts such as:
How does regulation help me?
Regulators make sure that the online casinos adhere to a few set rules pertaining to advertising, technical checks, as well as payouts. But, the majority of online casinos in Canada tend to complete quality control and technical examinations, by undergoing independent audits.
Ideally, it is best to opt for casinos that hold batches from certifiers such as eCOGRA, Canadian First Nations (Kahnawake Gaming Commission), Technical Systems Testing (TST) and the most crucial test of all, Random Number Generator software / Gaming Associates, BWM, and VeriSign.
Relevant international Regulating Authorities
Especially in Canada, wherein there is an atypical marketplace for online casinos, it is extremely important to look into the casino’s reputation on a global level as opposed to the local level. Typically, a preliminary investigation would incorporate the following:
Refer to online sources and conduct substantial research regarding the reputation of the casino globally, particularly in places such as the UK.
Batches from foreign gambling regulating authorities
As stated above, no particular authorities regulate online gambling in Canada. But, it would be a good idea to check for licenses from international regulators, which go a long way in ensuring a safe playing environment.
Moreover, let us look into individual international regulators as well as their abilities.
Malta Gaming Authority
MGA is the most renowned regulator for iGaming in the world. Currently, it holds close to 10% of the aggregate number of casinos on the planet, including online and brick-and-mortar entities. The favourable tax benefits in the country, which encouraged general investment, has also led to the growth of the industry on the Maltese island.
Today, MGA is associated with fairness, thought regulations, as well as battle with addiction by providing support and donating to charities.
In the 1990s, this was the first regulatory institution to execute legislation for online casinos. There are several core values of the Curacao institution, that upholds the concept of protecting players and providing licenses only to entities that, according to them, can meet the requirements. As it supported the online casino business initially, the entity expanded quickly. Currently, one can observe outstanding collaboration between the MGA and the Curacao eGaming regulator, as they work towards the player’s safety.
The Alderney Gambling Control Commission
The primary competency of this entity is the fact that it collaborates with others. It basically connects various regulators on its platforms to ensure that all the regulators align with the same ideas. As this regulator collaborates with others, their batch can be found there.
HM Government of Gibraltar
This is a very recent legislator, established in 2000, by the Gibraltar Regulatory Authority. The main objective was to monitor electronic communication but gradually, it diversified to include online casinos. The best characteristic of this company is that it goes through the entity’s finances, before granting a license.
Isle of Man Gambling Supervision Commission
It was established in 1962 and starting then, the legislator has collaborated with many others in order to work towards safety. Similar to other commissions, they are can intervene in the case of casino conflicts.
In conclusion, regulators are very important to ensure your safety. It is especially important for people to look into legislators in Canada, as the scenario is slightly complex.