The Canadian Gaming Association says that more than CA$14 billion annually is wagered by gamblers in Canada on foreign betting platforms.
The Canadian Dollar (CAD) is the official currency of Canada and and often referred to as the C$ or Can$ to distinguish it from the American Dollar. Another nickname for the canadian dollar often used by foreign exchange traders and analysts is Loonie. The currency is structured in 5 different bills ranging between 5-100 Can$. The CAD is popular as a foreign reserve currency since Canada is believed to have a relatively sound economy and strong legal and political system. Canadian Dollars is a well respected currency and could be used for online gambling.