Online poker is a global phenomenon and today it is played in nearly every country of the world. Canada in particular is one of the biggest markets for online poker and some of the best online poker players in the world are in fact Canadian or living in Canada.
While USA restricts online poker significantly and American players are not allowed to play at most sites, Canadian players are accepted on nearly every major online poker network out there. It is still not legal for sites to be hosted in the majority of Canada, but international online poker sites accept Canadians with no major issues.
The list of poker sites that accept Canadian players includes the biggest sites in the world such as PokerStars and 888 Poker and the best part is that Canadians get to play against players from rest of the world with no special restrictions. Here are a few things everyone should know about playing online poker in Canada:
It is not illegal!
Playing online poker in Canada is definitely not illegal. While one would probably get into legal issues if he was to host an online poker site within Canada, playing at an international site like PokerStars is perfectly fine. In fact, when the DOJ shut down online poker in the USA, countless professional poker players moved to Canada to continue their careers.
Like any form of online gambling, online poker is also regulated in Canada. Under the current laws, it would be illegal to host an online poker site in most provinces, but this does not mean one will be prosecuted simply for playing online poker.
Taxes do apply!
Online poker may seem like a great way to make a living if you are good enough at it, but one should remember that even as a poker player, you must pay your taxes. Online poker winnings, just like any other income are subject to taxes and you should always remember to add them to your tax filings and pay the taxes.
You may be wondering how much you need to pay, but there is no single answer. Just like any other income, the taxes will depend on the province you reside in as well as your other income, your family situation etc. Either way, make sure you get proper consultations and pay according to law.
Online poker is not gambling!
Online poker has been deemed a game of skill for many years and countless players have proved that if you are good at it you can consistently show a profit. Likewise, if you are bad at it, you will consistently show a loss. This is very important to understand because many people play poker as a form of gambling but actually end up losing more than they would if they were playing casino games.
If you plan on playing online poker in Canada, get ready to study as well. There are countless online poker courses and books out there that you can use to get better, so make sure to make use of them and don’t lose when you don’t have to.
Depositing can get tricky!
While you will certainly not get into trouble when playing online poker from Canada, many banks refuse to process payments associated with online poker. For this reason, it is best to avoid using your credit cards to deposit online and use a payment processor like NETELLER or PayPal instead.
When using these payment processors, your money should go through with no issues. In fact, your bank will not even be aware of where the payment is going, so it will not get flagged in any way. Using electronic payment processors for all online gaming transactions also adds additional security to them, making them an obvious choice.
The best poker player in the world is Canadian!
This may come as a surprise to many, but Daniel Negreanu who is probably the world’s best poker player, is in fact Canadian. Daniel was born in Toronto and has built up a respectable career that has led him to the very top of the poker industry.
Negreanu has excelled at both online and live poker but has made a career at the live felt where he feels the most comfortable. Back when he was starting out, online poker was not an option, but Canadian players today get to learn the game from their homes by playing online and follow in his footsteps with much less hustle involved.