Canada's online gambling sector witnessed a skyrocketing growth in popularity and profitability in the past few years, thanks to online casinos.
Canada’s online gambling sector witnessed a skyrocketing growth in popularity and profitability in the past few years. The digital era has revolutionized how Canadians perceive gambling, making it convenient for people trying to turn their fortunes. The online gambling landscape in the country is growing exponentially, with several factors contributing to its popularity.
A big chunk of the credit goes to live casino games, poker, online slots, and sports betting. However, online casinos have emerged as the clear winner amongst Canadians. If you are someone who wants to try their luck, check out the best paying online casinos in Ontario reviewed here.
The allure of enjoying casino games from the comfort of your couch, all thanks to these digital platforms, has been the driving factor in the rise of online gambling in Canada. This surge has revolutionized how Canadians indulge in casino games and shifted the conventional brick-and-mortar casino landscape. Let’s understand what caused this major shift.
COVID-19 increased the demand for online gambling platforms.
There was hardly any area or industry that wasn’t affected by the COVID-19 pandemic. The gambling industry certainly took a significant hit. But it was, for the better or worse, still a debate among people.
Brick-and-mortar casinos throughout the country faced the wrath of the pandemic. Local lockdown measures prevented casinos from opening their doors to citizens for several months. Even after the restrictions were lifted, casinos faced several hurdles.
With most people locked inside their homes, online casinos witnessed unparalleled growth. While many developers saw their revenue soaring during the initial phase of the pandemic, the trend left an impression on an industry-wise scale even after the peak of the pandemic passed. In the first half of 2021, online casinos saw a 51% growth YoY.
With a plethora of online casinos, Canadians have been very particular about choosing licensed and regulated operators. Thankfully, the online gambling environment is now well regulated, with a robust framework in place for authorities to push online gambling while ensuring consumers’ safety and security.
Legal considerations for online gambling.
The skyrocketing growth of online gambling in the country has necessitated a legal approach for the authorities. The exponential popularity of these platforms has encouraged the government to reevaluate the existing framework to ensure responsible gambling.
Canada’s online gambling rules are detailed and differ by province, making for a diverse ecosystem. The federal government has enabled provinces to regulate and run their online gaming services. This has allowed consumers to access regulated online casinos and betting sites in their regions.
These measures also include responsible gambling programs and tools enabling players to limit their deposits and wagers. This stance has ensured that the country’s thriving online gambling sector continues to soar to new heights while keeping consumers protected at all times.
Online gambling is convenient.
Another reason for the unparalleled success of online gambling in Canada is the availability of mobile devices. This has enabled Canadians to spin the wheels and gamble from anywhere without concern about their whereabouts. Besides, online gambling apps and websites have changed the industry by providing gamers with a user-friendly platform.
The several games accessible to consumers are one of the most significant driving forces behind the success of online gambling in the country. Conventional yet popular casino games, including roulette, poker, and blackjack, as well as a wide variety of slot machines with diverse features, are available to players.
On the other hand, sports betting has also seen a spike in Canada, with consumers betting on various sporting activities, ranging from hockey to football and other sports.
Gambling statistics in Canada.
Similar to any other country, gambling is pretty standard in Canada, with around 75% of citizens gambling in some form. While the percentage may seem high, their gambling industry is more structured and regulated than in other nations.
As per a report by PlayToday, user penetration of the gambling market in Canada can soar by 51% by 2027. The country’s average revenue per user (ARPU) is $220. Around 65% of regular gamblers in the country bet their money on lottery tickets, making it the most favored form of gambling in the country.
As for online gambling, bettors are not bound to many restrictions. The ease of use allows them to gamble online without any hassle. Besides, it’s cheaper and more convenient than visiting physical casinos. Most importantly, online gambling has a higher reward ratio on investments.
With many apps and websites available, Canadians are more inclined towards Lottery games, casino games, including poker and blackjack, and sports betting on football and horse racing.
The report also suggests that the online gambling industry witnessed an overall 97% return of winnings in 2022. On the flipside, the overall return on winnings of brick-and-mortar casinos was only 61%. With several users enjoying online gambling on their smart devices, mobile casino games have gained popularity.
The most popular online casino game amongst the Canadian bettors is slot machines. Besides, online casino games do not compromise on the thrill and excitement they get while indulging in physical gambling. Moreover, online gambling offers more bonuses, which results in more traction.
That said, the online gambling scene in Canada is on the rise, all thanks to growing technology, a variety of games, and the framework for responsible gambling. This multibillion-dollar industry has not just revolutionized the way Canadians bet but has also added value to the country’s economy. As the digital world continues to evolve, the future of online gambling in Canada could see more growth and innovations.