Gambling has been around for a long time and has become a popular pastime for many. In the beginning, the game was forbidden and people practiced it illegally. Nevada goes down in history as the first state to legalize gambling in 1931 to curb the economic repercussions caused by the Great Depression. Other countries followed suit until the mid-1990s when gambling joined the internet space, prompting new laws and regulations. Online gambling has taken the world by storm, and it looks like the future of gambling as it generates substantial revenue. For example, Canadian real money online casino 2022 ranked among the highest government earners.
With online casinos becoming a thing among gamblers, countries have realized the need to allow their citizens to enjoy online casinos. Nowadays, the majority of countries in the world have legalized online gambling. Although online gambling is the darling of all players, unfortunately not all countries have joined the bandwagon to legalize it. This editorial will provide detailed coverage of where it’s legal to gamble online in 2022. So keep reading if you want to know where you can engage in your favorite online casino activities this year.
Estimates indicate that over 75% of Canadians are involved in gambling, with the majority gambling online. Despite the high number of gamblers in Canada, the country has a surprisingly low number of problem gamblers, around 2%. Online casinos hit the Canadian market in 1994. Back then, they were unpopular among the masses due to their poor graphics and slow internet speeds. Additionally, in the formative years of online casinos in Canada, the laws of the industry were ambiguous compared to today. Today, the Canadian Criminal Code only allows authorized entities to operate online games of chance.
Unlike the 90s, the online gambling business has become a big industry. Seeing the potential, the Canadian government developed its own online gambling sites. However, it should be noted that the laws governing online betting in Canada may differ by province. For example, the legal betting age in Quebec and Alberta is 18, while other provinces have a minimum requirement of 19. Overall, all online gambling activities in the country are overseen by the Canadian Gaming Association, which allows international gambling sites to operate legally in Canada.
The region has a rich gambling history, with the very first casino being established in Venice in the 1600s. Europe takes the lion’s share with 22.4% of the global gambling market. When online gambling became mainstream, European Union countries were the first to pass laws governing the sector. Until 2017, the European Commission supervised all online gambling companies among member countries. Since then, all regulations have been relegated to individual nations, provided they apply the main terms expected of any online casino operating in the EU. These requirements include Know Your Customer requirements and the Fourth Anti-Money Laundering Directive.
Europe is home to top and reputable gaming authorities such as UKGC and Malta Gaming Authority which ensure user safety for online gamblers. According to the European Gaming and Betting Association, online gambling revenue streams are expected to increase by around 20% to $99 billion. Online gambling in Europe is phenomenal as it is considered a safe business and is legalized in most countries. Let’s look at some of them.
- The Czech Republic
- The United Kingdom
- The Netherlands
The Asia-Pacific region
The Asia-Pacific region ranks second in the global online gambling market. Its value of 11.7% is expected to rise as more favorable laws are steadily passed. The region is considered to be the fastest growing market in the world and is expected to reach the $50 billion mark by 2026. It is home to the gambling capital of the world, Macau. Laws governing online gambling in this region vary by country. For example, Thailand allows horse racing, but all real money withdrawals are made at physical casinos. On the other hand, New Zealand passed the Gambling Act 2003 allowing over 3 million players to participate in all online gambling activities.
Unfortunately, some countries in the Asia-Pacific region have completely banned online gambling to pave the way for state lotteries. Mainland China falls into this category. India only allows online sports betting; all other online games are prohibited. It should be noted that Asia is home to major players in the mobile technology industry, which is an essential tool used in online gambling. That, plus the unveiling of 5G internet, means that online gaming in Asia-Pacific will only get better. Other countries in this region where online betting is legal are.
- The Philippines
North America holds 7% of the global online betting market. In the United States alone, the industry is valued at billions of dollars. It is growing exponentially at a CAGR of 11.5%, with estimates indicating that the industry will be worth over $100 billion in 2026. Online casinos in the United States are booming and international websites are finding refuge in the most states where online gambling is legal. However, the laws governing betting in the United States are specific to each state. In Alabama, for example, to visit the casinos you must be 21 years old, but bets on horseback riding can be placed by bettors who are 18 years old.
In Mexico, more than 76% of its inhabitants are Internet users who double as online gamers. The increase in the purchasing power of Mexicans has led to the rise in popularity of online gambling. In addition, new laws allowing international online casinos to settle in the country have positively transformed the sector. It should be noted that although gambling is legal in the United States, some states still prohibit it. For example, Utah and Hawaii have 100% bans on online gambling.
Experts consider South America to be the region to watch in the global online gaming industry. The region has a large population of around 420 million and an internet penetration rate of 73%. All of these numbers translate into potential adoption of online casinos. However, the regulations that govern online gambling depend on each country. For example, Brazil and Ecuador have banned their citizens from betting online. In most Latin American countries, gambling laws are still a gray area. Colombia is the only country known to properly legislate online gambling since 2016. In addition to this, Colombians can use online betting sites from other countries.
Costa Rica is another country in this region with particular betting laws. Since 1922, betting has been illegal in the country. However, seeing the potential in the online gambling industry, the country has allowed players to operate within its borders. There is only one take; they must abide by Costa Rican laws that prohibit their citizens from betting, which means that their services are only available to foreigners. Here are some other countries where online gambling is rampant in South America.
It is obvious that online gambling is becoming mainstream, and this is where the future of the gambling industry lies. to ensure the prosperity of this activity. However, those who lag will surely miss out on the revenue generated from online gambling.