When it comes to regulating gambling, Canada has a somewhat relaxed approach. The Canadian Gaming Association oversees the industry, but it’s up to individual provinces to enact and enforce any laws relating to online casino gaming, sports betting, traditional casino gaming, and other forms of gambling.

Canada’s online casino gaming laws are not totally clear, but individual provinces are starting to put this right. Ontario was the first and did so when it launched its own regulated igaming market in April 2022. Now some other provinces have followed suit, creating a safer igaming environment for players in those provinces. Below is a look at gambling in Canada compared to other parts of the world, at gaming laws in Alberta compared to other provinces, and at the future of the Canadian, US, and UK gambling industries.

Canada: a forever love of gambling

Gambling in some form or other has always been popular in Canada. Way back in the 1990s, research found six in ten Canadians (60%) gambled every month. Additionally, four in ten (43%) spent between 1 and 20 Canadian dollars on gambling. Fast forward to today and the Canadian gambling market is worth 14.2 billion US dollars as of January 2024, according to data on the website of consumer and market data company Statista.

It seems Canada enjoys wagering just as much as two other countries that love a gamble: the US and the UK. Data on the Statista website shows that 49% of US adults took part in gambling activities in 2023. Fifty-six percent said their attitude towards gambling had relaxed, compared to the 50% of 2019.

The UK returned similar stats for the same year. Forty-eight percent of adults reported engaging in gambling activity. Online casinos generated the most gross gambling yield in 2023, but it was the nation’s National Lottery that people played the most.

Alberta: following Ontario’s lead

The regulatory developments in Ontario have triggered movement in Alberta. In May 2024, Bill 16, the Red Tape Reduction Amendment Act, made it through the process and later received Royal Assent to become law. The act removes the monopoly of gaming by a single government entity and will allow private operators, licensed by Alberta’s provincial regulator, to provide online gaming services in Alberta, meaning players will have a choice of more than one Alberta online casino to play at.

The regulation transforms Alberta into one of the more liberal provinces when it comes to online gambling, others being Quebec, Ontario, and British Columbia.

Several provinces, such as Novia Scotia and Northwest Territories, have no provincially regulated online gaming sites. Some also restrict betting on horse racing and/or other types of sports betting, obliging citizens to use international betting sites for freedom from caps and betting on as many events as they wish.

What lies ahead for the Canadian, US, and UK gambling industries?

Canada’s appetite for gambling is clear, and the industry’s online sector is beginning to thrive. Ontario has enjoyed vast success by creating its own regulated market, one which, in just its first year, saw Canadians place billions in wagers and the industry itself generate more than a billion in total gaming revenue.

Canada can expect to see other provinces follow Ontario’s lead and allow private operators to provide services in the province under license. The purpose of the regulation is player protection. Any province that develops a regulated market will focus on this, so there will also be regulations around the advertising of gambling services.

The US

Gambling online is the future for the US, too, although states are slow to legalize it. As of September 2024, 38 states had legalized sports betting, following the US Supreme Court’s ruling that states could regulate sports gambling directly.

Despite allowing sports betting, some states only permit in-person betting, and only a few states allow online casino gaming. Operators believe online casino gaming is the future of gambling.

The UK

In the UK, the use of artificial intelligence (AI) will get bigger and bigger. Companies have realized AI can enhance players’ experience and are embracing it more and more. For instance, sports betting websites can use it to crunch data and provide iGamers with stats and other data to make better betting decisions. They’re also understanding they can use AI to prioritize content players are likely to be interested in and to personalize their offerings and services to players’ preferences.

Canada enjoys gambling as much as America and the UK. Although laws around igaming are more of a grey area in Canada, some provinces are clearing the issue up by creating regulated markets and experiencing great success. As time goes by, more are sure to follow.

Not many people would think of cryptocurrency as the right solution to taking better control of their finances; due to their unique features, crypto wallets are an excellent way to gain more financial independence. Their flexibility and security make them a perfect tool for modern budgeting, which is all about tracking spending and organizing bills. 

One of the greatest advantages of crypto wallets is their ability to give detailed insights into your transactions 24/7 – a perk that helps you take control of your habits and avoid overspending. This is particularly important when shopping online or backing your favourite hockey team on betting sites with BTC deposits, for example. They’ve become a popular option for online gamblers, as they don’t require personal information in order to verify a player’s identity. Thus, they allow quick and anonymous access to the most popular sports betting markets. Crypto wallets are among the most secure and affordable payment options for online hobbies, closely followed by prepaid cards and other digital wallets.

Here’s how cryptocurrency and crypto wallets can help you become a budgeting pro:

#1. Potential for appreciation

A cryptocurrency’s volatility is a double-edged sword. It can result in a significant loss of funds – but it can also help your investment soar. Take Bitcoin’s volatility as an example – it has periods of high performance and periods of serious drawdowns. Nevertheless, BTC investors who managed to assess the risk well ended up sitting on a serious goldmine, and the same can be said for most other cryptocurrencies. 

It’s known that crypto is perfect for investors with high-risk tolerance; in reality, the risks associated with Bitcoin are in the same realm as those attached to many familiar investments, such as Nvidia, Meta, and Tesla. Allocating a portion of your budget to a well-chosen cryptocurrency can help you gain financial independence more quickly, as long as you prepare a solid entry and exit point strategy. 

#2. Significant accessibility

With the ability to sell and buy crypto 24/7, investors can react to any unexpected market changes right away. Even though it’s recommended to create a long-term entry and exit strategy and not make emotional decisions when market changes inevitably happen, the ability to take action at any time will help investors feel safe – unlike some other traditional investments.

This accessibility and liquidity will help both long-term and short-term investors feel more secure in their decisions, ultimately leading to new streams of income, such as staking and yield farming. Ethereum and Solana are among the biggest cryptocurrencies in the world based on total staked value—with a staked value of $133.16 and $89.09 billion respectively—so investing in them could open up new opportunities for passive income. 

#3. Portfolio diversification

Ever heard of the saying ‘Don’t put all your eggs in one basket’? Well, it fits perfectly here, as you should never invest all of your money in just one asset. Instead, when creating a budget for your upcoming investments, it’s better to mitigate risks by spreading investments across different classes. It’s perfectly fine to invest 20% of your money into cryptocurrency, as long as you put the rest toward stocks, bonds, and other investments. 

On the off chance that your crypto investment doesn’t pan out, you’ll have something else to fall back on, lessening the financial blow of a bad decision. With their unique market behavior, you can never be sure which way the pendulum is going to swing with cryptocurrency.