Online slots and casinos have taken over the world of gambling since the introduction of the internet. However, while there are many similarities between countries, there are several differences. Canada and the US, for example, have a few key differences even though they serve similar markets. Let’s take a look at a few of them.
Banking & Payment Methods
One of the most significant differences between online slot machines in the United States and Canada is the banking and payment methods provided. While the US and Canada allow for Visa, Mastercard, and Maestro, the US edges the competition by having a handful of extra options.
In the United States, players can use debit and credit cards, as well as services such as PayPal, Paysafe, Skrill, and Ecopayz. These extra options for US players allow for quicker transfers and payments compared to their Canadian neighbors.
Regulations
The regulations surrounding online slots are an interesting topic between the two countries. Not only are they vastly different, but both countries differ from state to state and district to district.
Canadian Legality
Canada has interesting laws surrounding online casinos. Technically speaking, Canada doesn’t allow online casinos to operate within its borders – as in, it is illegal for Canadian companies to own and operate online casinos within Canada.
However, Canada allows international casinos to operate within its borders, and while the options are limited, they still have access to everything from slots to sports betting.
US Legality
On the other hand, the US allows online casinos to be owned and operated within the United States. However, there are different laws depending on which state you are in. So, Colorado would have different legal rules and regulations from California.
Seven states allow online gambling and casinos, including New Jersey and Delaware. While there are far more states that allow in-person gambling and casinos, online casinos are still limited.
Taxation
Many countries and states enforce regulations that make operators file a tax sheet for winnings, with the US, for example, taking almost 25% of your winnings. However, with Canada allowing international casinos to be accessed by players, there is no tax to be taken. A significant benefit of playing online slots in Canada is that your winnings are tax-free.
Market Size
There are no surprises regarding which market is bigger between the US and Canada. There are far more US citizens playing online slots daily, with over $44 billion generated in 2021 alone.
On the other hand, the Canadian market is much smaller due to a smaller gambling and online casino culture. Canadians also have a slight distrust of international casinos, even though they are highly regulated, with many laws protecting players.
Bonuses
Bonuses are one of the best parts of online slots. They give players free spins, deposit matches or bonuses, and extra money to play with. Bonuses vary from game to game and casino to casino, but overall, they are a great addition to the game.
While many US online slot casinos offer incredible deals and bonuses, they are held back slightly due to laws and regulations. This means that even though you can get several amazing bonuses, the Canadian market is undoubtedly better in this regard.
International casinos offer a wide variety of houses that appeal to all types of players and budgets. In many people’s eyes, they are substantially better than bonuses in other countries.
Game providers
Considering that Canada allows for offshore online casino sites, it means that Canadians have a massive variety of games to choose from, especially slots. There are seemingly no limits to how many games Canadians can choose from.
However, only a small handful of developers and game designers have licenses in the US. This means despite a good variety of games in the United States, Canada wins in this category.
Currency differences
An interesting difference between the two countries is the currency you can and can’t use. It is simple in the US: players deposit USD and win back USD, and there are no losses due to exchange rate differences.
However, in Canada, players may use the Canadian Dollar, but the casinos don’t. This means there are differences due to exchange rates, and therefore, your winnings will be affected, too.
Future of Online Gambling in Canada
The Canadian online casino market is flourishing, and many believe it will lead to lasting changes in the country. There has been talk of legalizing Canadian-based casinos to operate in the country, which will take the business to the next level.
While this is all talk at the moment, the numbers and market size speak for themselves, and many believe it is only a matter of time before substantial changes are made.
The Final Comparison
While there are several commonalities between the US and Canada when it comes to online slot play, there are significant differences that make each country stand out in the sphere. Depending on where you are, US citizens have a ton of choices, but Canada seems to win the competition when you compare the two.