A Historical Look at the CAD Currency and How it Affects Online Payments

The Canadian dollar enjoys very good reputation in financial circles and is used more frequently than you might expect for the currency of a relatively small country. It’s not rare for online payments to be
accounted in CAD on many different websites ranging from e-commerce stores to online casino sites.

There are several reasons why this is the case, and to truly understand the role that the Canadian dollar plays on the international scene today we need to look back at the early days of this currency. Canada’s past and present relations with other nations has shaped how Canadian money is used, and continues to affect its value in the era of digital trading without borders.

Brief History of the Canadian Dollar

Before it became a sovereign nation, Canada was trapped economically between its colonial master and its large neighbor. During the colonial era, several North American provinces that are today part of Canada found it impractical to use imperial money and created their local versions of the US dollar. In 1858, the Canadian dollar was established and almost 10 years before Canada became a country, the burgeoning nation replaced local currencies with its own money.

Originally the Canadian dollar was tied to the gold standard, but this practice was disrupted during
World War I and completely discontinued in 1933. In the post-war period its value was sometimes
pegged to the US dollar, with the rate changing over time but never getting too far from parity. This too was deemed too limiting, and after the 1950s CAD was allowed to have a floating value based on supply and demand in the market.

Today, CAD 100 is worth around $US 75, so whenever prices are shown in Canadian dollars their cost in the American equivalent is around 25% lower. A similar rate is maintained on exchanges across the
world, and Canadian dollars can be swapped for practically any other currency. Canadian dollars are
currently available in bank notes worth between $1 and $1000, while coins are still available for smaller denominations. The Bank of Canada is considering the possibility of issuing a digital version of CAD in the future, but there are no immediate plans to do so.

How Is CAD Regarded Today in Global Trade

Throughout its existence, Canadian dollar has proven to be exceptionally stable. It never experienced
large fluctuations in value as consequence of hyperinflation or other economic problems, and its rate vs. the US dollar has remained roughly similar for decades. This is in part because Canadian economy is strongly connected with the US, but also because the country exercises good financial governance and manageable levels of public debt.

Due to its status as a reliable and convertible currency, CAD is readily used for international transactions that involve Canadian companies or government. It is frequently used between third parties as well. However the CAD is not on the same level in this role as $US, Euro, or Pound Sterling and is more similar by volume to Swiss franc and Singapore dollar. Many foreign banks also prefer to keep a portion of their reserves in Canadian dollars because of the low likelihood of a sudden loss of value.

A case from 2012 provides a great illustration of the reputation for stability that Canadian dollar enjoys. During a financial crisis in Iceland, there was a proposal for the tiny island nation to adopt CAD as its legal tender. While the plan was eventually abandoned, the fact that a foreign nation had a higher opinion about Canadian currency then its own is very telling.

The Role of CAD in Online Payments

Much like in traditional trading, Canadian dollar plays a significant role in online commerce. For online transactions within Canada, CAD is the default currency but it is also commonly used to pay for goods or services distributed internationally. Almost all leading digital payment services such as PayPal or Skrill support transactions in CAD, which means money can be instantly sent anywhere in the world. That greatly benefits Canadian citizens and others who keep their money in CAD as it allows them to save on conversion fees.

The penetration of CAD on online marketplaces is also considerable, but less than ideal. In general, you can pay for a lot of things on the internet without conversion since many companies based
elsewhere in the world are happy to accept Canadian money. Many online casinos, like these slots in Canada, list CAD as one of supported currencies so you can just deposit your cash and not worry about
the exchange rates.

It’s fair to say that Canada is already punching above its weight when it comes to facilitating online
trade, but it could do even better. A concerted effort to promote the use of CAD outside of the country
could create additional benefits for the economy and fortify the value of CAD against American dollar
and other top currencies. It will be interesting to see how a national currency that’s almost two
centuries old will adapt to the changing landscapes of online commerce.

Todayville Content Team

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The online casino industry is growing so fast, and the question of how to participate remains pertinent. In fact, according to recent statistics, the number of online gamblers is expected to hit 210 million in 2025. And, of course, it follows that players from regions like Calgary and Edmonton have contributed a lot to this growth.

However, just like any other industry, getting the right information is also important for online casino players. Realizing this, we have crafted an article that will enlighten you on a number of things, ensuring your gameplay is engaging. Therefore, you’ll actually do well to hang around.

Identify a suitable platform

A great online casino gaming experience all begins with choosing the right platform. But how do you ensure that it’s actually the right platform? Let’s take a look at a few factors.

Online security

No one wants to gamble on a platform that could expose them to attacks. And now that attacks are really becoming prevalent in this industry, you don’t want to turn a blind eye toward online safety. By the way, do you actually know that, according to experts, more than 70% of online casinos have been involved in security incidents just recently? You can imagine what things could be like in 2025, given that cybercriminals are ever-evolving.

But that should not leave you hopeless. Infrastructures like 2FA have really proven to be helpful. A popular statistic noted that this technology can prevent exposure to over 99.9% of targeted attacks and 96% of phishing attacks.

Other infrastructures that show a platform is secure include SSL encryption, firewalls and anti-fraud systems, among many others. Online casino platforms that integrate AI into their security efforts can also be good options.

Payment methods

You perhaps could be surprised to learn that GoCardless associates 30% of all churn to failed payments. As if that’s not enough, Testlio claims that more than six in ten customers likely stay loyal to brands with smooth, hassle-free payments. Assuming you were a game provider, would you ignore such a statistic? You probably wouldn’t because it would imply you don’t care about your customers’ preferences.

Similarly, platforms that pay attention to payment experience show they prioritize customer experience and could be worth your consideration. And one of the ways to guarantee this is by offering multiple payment methods.

That ensures that even if one fails, you have an ocean of other options to use. Plus, diverse payments also cater to multiple preferences. And, of course, if a platform goes a step further to localize these features, it can provide an even more engaging experience.

User-friendliness

Given that a single platform can offer even thousands of game variations, you want to use the minimum time to engage. But what about if navigating the platform becomes problematic? This can be frustrating, which only injures your gameplay. As such, a great platform will use features like logical hierarchy to improve the discoverability of games.

To further improve its friendliness, the platform will also want to cater to multiscreen consumers. And this is where the responsive design approach comes in. The website should work well even on smaller devices without needing you to pinch or zoom it. That way, you can always be sure of a great experience even when on the go.

Get started

Once you have examined these factors, it’s time to play. Most casinos will provide you with the option of either downloading their apps or participating instantly. For most platforms, you’ll need to sign up or register by providing some basic information like your name, email address and so on. Always ensure that these details are as accurate as possible.

This normally comes in handy for stricter platforms that may require you to verify your details. For instance, some may need players to upload copies of their IDs, passports or even driver’s licenses. Remember, gambling restrictions are becoming tighter by the day, and such measures can really help reduce fraud. Once all this is done, go ahead and fund your account.

Navigating the online casino lobby and playing responsibly

The casino lobby is where all the magic happens. You’ll find a wide variety of games, from classic slots and table games to live dealer games that bring the casino floor to your screen. Use the search bar or filters to find your favorite games, or try something new—many casinos offer free demo versions so you can practice before betting real money.

If you’re a fan of slots, look for games with high RTP percentages and exciting bonus features. For table game enthusiasts, check out different variations of blackjack, poker, and baccarat. And if you’re looking for a more immersive experience, live dealer games are the way to go. By streaming in real-time with professional dealers, these games actually make you feel like you’re in a real casino.

But, of course, we can never fail to mention the need to ensure you gamble responsibly. Since gambling should be done purely for fun, you may want to set a budget before participating. Good enough, most platforms actually have features like deposit limits and self-excursion options to help you with this.

It actually is true that a lot goes into making for a great online casino experience. But even before you start, you want to ensure the platform is secure and has several payment options. On top of that, it should also be user-friendly.

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The limited nature of sports betting opportunities in Alberta makes it difficult to judge just how successful a full launch will be, with only single-game sports betting allowed since Bill C-218 was passed in 2021.

However, projected legislative changes that look set to take place in 2025 should provide the regulatory framework required for a more comprehensive betting market, with a focus on online operations.

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At present, the only online sports betting operator licensed to run in Alberta is PlayAlberta, a government-run operator that is regulated by the Alberta Gaming, Liquor, and Cannabis Commission (AGLC).

The new regulatory framework was set to be implemented at the end of 2024, but the project was delayed. The popularity of Ontario’s online sports betting market, which has seen significant growth, has encouraged other provinces to look at ways they can enjoy the revenue it would create and the improved protections they could offer their citizens.

Albertans have Canada’s highest spending on gaming per capita, and this statistic has led experts to believe that it would welcome a more open online sports betting industry.

The province is home to one of Canada’s youngest adult populations, and a legal betting age of 18 would be conducive to a successful online sports betting market. Another benefit for the 4.9 million inhabitants of Alberta is that Canadians don’t pay tax on winnings.

The wide selection of pro-sports teams in Alberta would also help with a launch, with the Calgary Flames, Edmonton Oilers, Calgary Wranglers, Calgary Stampeders, Edmonton Elks, Calgary Roughnecks, and Calvary FC just some of the options for local sports fans to get behind.

Alberta is in pole position to become the second province to allow commercial online betting operations and will benefit from insights available from Ontario, helping to avoid potential pitfalls. The industry would provide a welcome boost to provincial finances via tax revenue and improved employment.

The opportunity to allow other sports book operations will alert existing live-betting operations including Enoch’s River Cree Resort and Casino and Eagle River Resort, as well as the Stony Nakoda Resort and Casino in Morley, Starlight Casino in Edmonton, Calgary’s The Grey Eagle Resort and Casino, and the Casino Lethbridge.

The province will likely follow the lead of other regions that allow online betting markets by implementing application and license fees, with license fees requiring annual updates.

The limited nature of the existing sports betting market in Alberta leaves significant room for growth. The wide variety of sports and betting markets available for locals to explore will provide great competition for potential new betting apps.