Online Casinos Really Are Fun For Canadians
The concept of the online casino sounds like a great idea. You can go to such a place, deposit money and play all sorts of fun casino games. You could win quite a bit of money by playing a variety of games. These include games that you’d play at real casinos.
Contrary to what you might hear, the online casino is actually a great place for online entertainment. You won’t be put at risk of being scammed by any online casino. The standards that are being utilized in today’s online casino industry are very strict.
Licenses Are Required
Any online casino to operate out of Canada has to be fully licensed before it can start working. However, some online gambling activities are organized by individual provinces and are associated with lottery functions.
The concept of legalized online gambling is relatively new in some parts of the country. British Columbia has allowed online casino games to be linked to the province’s lottery since 2010. Quebec has been doing the same since 2011. Ontario has also established some plans for its own online casino games.
However, these licenses are for games that are linked to provincial lotteries. The concept of the online casino has been around for much longer than this.
For instance, the Mohawk Territory in the Kahnawake jurisdiction in Quebec has held the legal right to operate online casinos since the 1990s. Indians that live in this territory have aboriginal rights. Therefore, they have the right to operate and license online casinos to others. It ensures that online gaming is allowed provided that a proper casino holds a permit. Any business that wants to operate as an online casino in Canada can receive an appropriate license from the Kahnawake jurisdiction.
Other organizations will allow for the legal operation of online casinos in Canada. The Lotteries and Gaming Authority of Malta and the Gibraltar Betting and Gaming Association are among the many organizations that allow for the legal operation of online casinos in Canada.
The same goes for online poker sites. This subsection of the online casino industry has grown over the years to include many options. These options are typically licensed by overseas organizations like the Isle of Man Gaming Supervision Commission. The intention of these licenses is to ensure that such sites will meet the necessary fair play and security standards that casinos must follow.
What Regulations Are Covered?
The basic conceit of regulations relating to online casinos in Canada is that they are legal. That is, the Criminal Code of Canada says that online gambling is not illegal. No one in Canada has ever been charged for playing at such online casinos.
Many rules and regulations are utilized by online casinos that are accessible within Canada. For instance, there are laws that relate to how the money that is won at such a casino can be taxed. Winnings that come from a gambling site are not taxed, unless they are interpreted as funds that were gained through a business-based transaction.
In most cases a jackpot win worth thousands or even millions of dollars may be interpreted as a business-based move. This regulation for the winnings that come from online casinos is similar to what is used in the United Kingdom and Ireland.
Also, all casinos must be powered by software programs that are designed in accordance with all fair play standards. Playtech, Microgaming and many other programs are being used by today’s online casinos. These programs must be registered with the Interactive Gaming Council and eCOGRA in order to operate. This is to ensure that all games are designed to be fair. Every game is tested to ensure that there are suitable odds for winning and that no games are being rigged.
Audits Are Performed
Audits are utilized to ensure that such online casinos will continue to operate in accordance with fair play standards. Audits are performed by the e-Commerce and Online Gaming Regulation and Assurance, or eCOGRA, organization.
eCOGRA will test different casino software programs as they are being operated by individual websites on a regular basis. Every program is audited with full reviews based on how the software is maintained and how payouts are held. The payout totals must be given out with certain standards that are identical to what is featured in real casinos. The software may also give better odds than brick-and-mortal casinos if desired.
All online casinos that are endorsed by eCOGRA will proudly display the organization’s symbol on their front pages. It states that the casinos are tested regularly. These tests may be held on a monthly basis. All testing procedures are organized as a means of determining if a casino is safe to do business with.
How Are Deposits and Withdrawals Monitored?
The financial transactions that occur at such casinos are consistently monitored. This comes from a banking system that utilizes strong bank-level encryption. 128 or 256-bit encryption is often used as a means of protecting all online transactions. It creates a key that can only be accessed by a casino’s servers. It cannot be accessed by any third party.
All financial information will be moved through a secure banking system. This system is inside the casino’s software program.
In addition, these are linked to proper usernames and passwords. These have to be presented before entering in any financial information. This is to ensure that the online transaction will be held between the legal user and the online casino.
The deposit and withdrawal methods will vary by each casino. Traditional MasterCard and Visa transactions are typically allowed in the deposit process. Withdrawals will require the use of different online money transferal services like Click2Pay, Skrill, Neteller and EcoCard among many others. Traditional wire transfers may also be offered but it will take longer for such a transfer to be utilized.
If you have ever thought about going onto online casinos in Canada then you should not have any reservations over doing so. The casinos that you can access today are legal and safe to operate with. These will protect you as necessary and will give you a fair sense of play. This is a truly fascinating form of online entertainment that you should explore! If you’re not quite sure which casinos to choose, our recommendations are a good place to start!