There can be no denying that online casinos in Canada are incredibly successful and popular. While the sector has its detractors (there are always people who want to criticize fun and anything that could be regarded as a vice), its positive contribution to the Canadian economy cannot be overstated. The casino industry generates over $14.2 billion annually, with a significant portion of that revenue coming from online casinos.
It is reported that more than six in ten Canadians engage in some form of betting, with many playing online slots, poker, and other casino games. Experts predict that the industry will experience five percent growth over the next five years, making the market even more critical. Online casinos generate more annual revenue than their land-based counterparts. While brick-and-mortar establishments are expected to generate $9 billion by 2028, online sites are predicted to amass nearly $19 billion.
So, why does Canada stand out as such a beacon of success in the online gambling world, and what can other markets learn?
Regulated markets
Probably Canada’s biggest and most financially successful online gambling market is to be found in Ontario. The province decided to take the proverbial bull by the horns and create the country’s first fully regulated commercial gambling market, which covered all forms of gambling. This coincided with the explosion of the popularity of online gambling, which occurred during and was sustained after the Covid-19 pandemic.
The authorities in Ontario realized that a regulated market would be beneficial for players, offering additional safeguards, and excellent for the provincial coffers, which were in need of replenishment. By moving players from the grey offshore markets to a regulated, legal market, the province generated over $1.48 billion in revenue in an industry sector that supports more than 12,00 jobs.
Covid-19 – the pandemic kickstarted something
Lockdowns might have been devasting for many business sectors, but many in the entertainment and online sectors found new audiences and customers. People were seeking alternative forms of entertainment and ways to occupy the long hours. Many people tried out online casinos in Canada for the first time during this period. While many suspected that the sharp growth might be a blip, it turned out to be a trend.
When the world reopened for trading as usual, people who loved to gamble stuck with what they had found; across the country have continued to rely on review sites like Casino.ca to find out what are the best online casinos. Knowing which sites are reputable and trustworthy has been crucial to the sector’s success.
Great Gaming opportunities
The sector has attracted and welcomed the top international operators and game studios. This means that Canadian players have access to some of the most exciting gambling games in the world. Many of these are tailored specifically to a Canadian audience or are available only at specific casino sites. While the online slots are, undoubtedly, the most popular, Canadians really are spoiled for choice, with some sites featuring thousands of games across a whole range of casino table games, including roulette, poker, blackjack and craps. What has made traditional games even more alluring is the introduction of live dealer gaming, where players get to play alongside and against human dealers. By the wizardry of IT, they are transported from the comfort of their own homes to the virtual casino floor without needing any peripheral equipment.
Accessibility
The best online games in the world could not be successful if there were not fast and nearly instantaneous access. Back in the early days of the internet, during the Dotcom Boom and Bust, entrepreneurs had fantastic ideas about how the World Wide Web would transform our lives. However, early incarnations of e-commerce and gaming sites failed because not enough people had internet access, and for those who did, download and upload speeds were painfully slow. The arrival of superfast broadband, fibre to the premises, and 4 G and 5G mobile has changed all of that. Canada has excellent internet connectivity, even if Vancouver is still not on par with the other major cities, and some people joke that Canada Post is faster.
The rise of mobile gaming
Fortunately, players are not reliant on home or public broadband to play at online casinos. The rise of mobile gaming has been a significant contributing factor to the success of online casinos in Canada. Smartphones have become so ubiquitous and mobile connectivity so good that these days, most people who want it can have a mobile casino in their pockets.
Online casino companies are cashing in by developing platforms and apps that are optimized for use on smaller screens and devices. Native casino apps enable players to access games even when there is no internet connection. The best apps integrate seamlessly with web-based browser versions, allowing players to easily move between phone, laptop, desktop, and tablet if desired. Some online casinos are ‘mobile-first’, meaning they have created their content to work primarily in a mobile environment. When playing on a smaller screen, it is essential that players cannot accidentally place the wrong bet or make a mistake when selecting a bonus due to restricted playing space.
The online casinos have spent millions creating and delivering the perfect playing space for iGamers on the go.
Propensity to gamble
Canadians seem to have a propensity to gamble hard-wired into their DNA. The business could not be so successful if the audience did not love what was on offer and wanted to partake. There are many theories as to why gambling rates are high in the country, including relatively high disposable income and extended leisure time compared to other countries. Social media influencers have also popularised online gambling, with rapper Drake taking it to a whole other level.
Payment options and safe playing spaces
Canadians were early adopters of online payment systems, with Interac pioneering safe money transfers between customers and businesses. iGamers have a wide range of options for making deposits and withdrawing their winnings. The commercial online casino operators have tailored their platforms to offer payment options that Canadians are comfortable with. This, coupled with excellent security protocols and policies, means that players can deposit their money knowing that both their funds and data are secure.
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