Online Gaming Industry in Canada

Canadian gambling industry makes a lot of profit

Online gaming industry is a most rapidly expanding sectors not only in Canada but all across the world. Canada is ranked eighth among nations that spend the most money online, with over 19.3 million active online gamblers. Several provinces are already benefitting from the lucrative industry. They include Saskatchewan, Alberta, and British Columbia. Ontario opened the legal online gambling market on April 04.

Every year, Canadians spend more than $4 billion on internet gambling sites located offshore. Players in Canada pay $16 billion in local casinos according to the Canadian Gaming Industry Report. With almost 20 million Canadians indulging in online gambling activities, it’s no surprise that the sector contributes a significant amount of money to the country’s economy.

What Are the Most Common Types in the Gambling Industry?

The most popular online gambling activity is sports betting. Canadian gamblers are notorious for squandering their money on it. They enjoy football, hockey, basketball, and other popular sports. Female players prefer bingo and luck-based games over most men, who prefer sporting events. Although land-based casinos are popular, the number of individuals playing at online casinos in Canada is on the rise. Online gaming sites are more accessible today than they were previously. They provide casino bonuses that are quick and generous.

Over the last decade, internet casinos in Canada have grown increasingly popular, to the point that land-based casino business revenue has been on a steady decline. The 2020 closings accelerated the decline. In that year revenues from Alberta land-based casinos fell by 24%. The provincial government established its own online casino in order to boost revenue. Other provinces quickly followed suit. Slots, poker, and roulette are the most popular online casino games in Canada.

Demographics Is A Key Factor in the Gaming Industry

In Canada, males and females make up almost equal proportions of online gamblers. Women make up 43% of internet gambling fans, while men account for 56% of them. Female gamblers are more likely to use mobile devices to benefit from mobile casino bonuses. Female gamers in Canada prefer to gamble on their phones, with around 55 percent of them doing so.

The majority of online gamblers in Canada are between the ages of 30 and 50. There are, however, a significant number of younger players as well. Gambling tastes may differ depending on age. Bingo is a more relaxing game for older gamblers. Younger players, on the other hand, prefer more action-packed games. Slots are one of the most popular online casino games in Canada.

What Is the Canadian Gaming Industry Worth?

In 2021, Canada’s gambling industry generated $2.64 billion in income. Online gambling contributed $1.2 billion to the total revenue of the sector that year. However, some feel that the country would make more money if not for the requirement that every internet gambling company needs to hold a license. The huge variety of options in the Canadian online gambling industry has attracted a slew of foreign investors. They are expected to boost overall online casino revenue in the future.

In Canada, each province has its own set of guidelines for internet gambling. Casinos, on the other hand, are typically legal throughout the country. Online casinos in Canada must have a license by the relevant authorities. Every province, with the exception of Saskatchewan, has at least one online gaming site. Canadians can now engage in gaming from foreign internet casinos. However, these businesses are prohibited from targeting Canadian players in particular.

What’s Next in the Canadian Gaming Industry?

Many land-based casinos had to close during the pandemic. Even players who had never played at an online casino before began looking into them. However, the development of Canada’s online casino sector may be attributed to a variety of additional causes. There are several reasons why mobile gaming will continue to grow in popularity in 2022. These include internet penetration, the adoption of mobile gaming, and an increased need for convenience. The future of the sector is bright. Here are a few trends to look out for in 2022.

In 2022, internet gambling companies in Canada will begin to shift their strategies. There has been a lot of attention on problematic gaming as more legislation is passed. Casinos are providing players with advice to promote themselves. They’ve implemented methods including the usage of gaming tools to assist users manage their experiences and age limits. You can now opt out of certain offers and games.

More Live Dealer Games

As competition heats up, more Canadian online casinos are now offering live dealer games. They’re always on the lookout for new ways to provide you with a genuine gaming experience. Live dealer games allow you to converse with other players and actual-life dealers in real time. Your online gambling experience will no longer be lonely.

The Evolution of Gaming and Bitcoin in the Online Casino Industry

The number of crypto casinos is increasing at a rapid rate. Therefore more online businesses now accept cryptocurrency payments, including Bitcoin and Ethereum. Many casinos have already converted to solo crypto casinos. These gaming establishments are both safe and successful as they allow for cashless payments, which ensures the safety of your personal information. Because they employ blockchain technology, crypto casinos provide quick payments. Transactions do not need an approval by a central bank. However keeping track of crypto payments might be difficult. As a result, you’ll have greater anonymity and better gameplay.

Esports Betting on the Rise

Esports will be a smash hit by 2022. It’s likely to become one of Canada’s most popular sports games and this development will be in accordance to the interactivity of online casino games. You’ll be in the thick of things and get to see what’s going on in real time. Esports betting is fascinating because it is full of activity.

About the Author

Prisha Sevad

Prisha is our SEO and content guru at iBet Network. She keeps everyone else on track and makes sure that all our meta descriptions are up to scratch. Prisha is also very passionate about all things gambling and is a walking encyclopedia of casino slots and sports information.

Prisha has helped set up countless online casino and sports betting sites and has worked for a few major players in the industry.