The advent of online casinos brought a massive change to the gambling industry not only in Canada but also across the globe. Canada, a land filled with many opportunities and beautiful landscapes, houses over 90 attractive land-based casinos. You can say the Canadians are a bit heavy on the gambling thing and the country managed to generate over $1.2 billion from online gambling in 2021.
The emergence of online casinos offers Canadians the chance to play their favourite online casino games like poker, baccarat, blackjack, craps, and slot machines directly from their mobile devices and computers. They don’t have to carry cash around or book a flight or taxi to play their favourite games. Everything is accessible with a few taps on their devices.
Online casinos have been growing in popularity over the years, but do these online platforms bring any benefits to the local communities? In this article, we will be discussing the measures online casinos take in Canada to contribute to the local communities.
Tax Revenues
The biggest benefit online casinos bring to their local communities is the provision of tax revenues. Taxes play a big role in people’s lives as well as in the growth of an economy. The tax revenue generated by online casinos is used to finance different kinds of community projects like sponsorships, building schools, and roads, providing house facilities, improving sports, paying salaries and many more. With Canada having several land-based casinos spread within its borders, you should notice that the regions these casinos are located have improved growth rates than others. According to industry expert Michael McKenzie (find out more of his work on here) iGaming is one of the most lucrative ones, and its revenue can be used by the government to fund several community projects. All online casinos operating in Canada contribute to tax revenues.
Increase Job Opportunities
Like every other prominent industry, the online casino industry also provides jobs for lots of people, and they usually start with locals who are interested in the industry. Both land-based and online casinos offer impressive business benefits when the economy faces troubles. In the local areas, they operate, online casinos help decrease the unemployment rates by hiring local residents of the area.
Online casinos hire people for different departments like Graphic artists, Customer Support, Computer Programmers, Executives, Advertising, Marketing, and many more. Research showed that communities with online casinos have higher employment rates.
Online Casinos Improve Economic Growth
Online casinos also contribute, significantly, to economic growth because new economic activities always come with their emergence in regions. Having contributed significantly to the employment rates, you can always expect a positive result in the country’s economy, taxes and local businesses.
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Conclusion
Having online casinos operate in certain areas will always have its pros and cons. While the case of potential addiction is being battled with the safe responsible features embedded in all legitimate online casinos, many countries will continue to enjoy its benefits.
With the Ontario government taking the lead in creating a new open market within its province, the end-of-year tax revenue to be generated will be reaching a new record as top online casinos are already swarming into the market to offer their services to Canadians. So Canada stands to benefit a lot from online casinos in terms of tax revenue which will lead to an increase in economic growth.
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