Assessing the Impact of the Success of Online Casinos on Land based Casinos
Over the years, the following have been established about the gambling community in Canada.
- Canada has a good population of gamblers with many active online casino players
- Online casino in Canada has an average revenue of about C$31 billion.
- The best online casinos draw millions of eager players each year.
The above statistics can be found on the Casino pilot and goes a long way to emphasize the popularity of online gambling in Canada. Online gambling, despite its present acceptance, had trouble taking off in Canada and all over the world.Aside from the fact that it was not completely legal at first in Canada, there were issues of suspicions, mistrust and rigging that usually accompanied it. However, presently, laws and regulations have been set up to protect the online gambler, making sure the games are run legally and ethically, customers have also figured out ways to ensure secure and fair play online.
Since online gambling took off in Canada, the numbers have soared. It helps that Canada is a large country, with a diverse population. The IGaming scene in Canada is, as a matter of fact, said to have one of the highest numbers in the world, generating about C$31 billion every year.“In fact, even when compared with other iGaming superpowers, Canada has one of the most interesting and vibrant iGaming scenes in the world. Although the Canadian government initially frowned on all forms of casino activities, online casino in Canada has gradually become a sort of national institution.” Says a report on Casino Pilot.
The main reason for this success is a general improvement in the quality of services offered by these online establishments. Many of them provide safe, profitable and pleasant iGaming environment.
These impressive improvements and the subsequent success and popularity of the online Casino, have raised questions as to how the traditional land-based casinos are faring, having to compete side by side.
Ontario Lottery and Gaming Corp. issue shares of casino revenues to the City of Niagara Falls as casino-hosting revenue, which has accounted for a massive $124.7 million since 1996. Better still, they appear to be going strong as $7.4 million of that came following Q1 of 2018.
The Nova Scotia Business Journal, reports an improvement in the numbers of certain land-based casinos whose profits seemed to have crashed with the earlier boom of internet gambling.
According to them, “Loto-Quebec seems to have made a steady comeback as well, boasting increased revenues from 2016 at casinos and gaming establishments, yielding a 5.3 percent increase across both revenue streams. Furthermore, Gateway Entertainment and Casinos has recently seen the casinos in the Western Fair District as a viable business opportunity as they’ve completed the purchase of three casinos and six slots operations.”
With the foregoing, it is safe to conclude that, despite the initial loss in revenue, land-based Casinos have survived the impact of online casinos, made a comeback, and are competing side by side online casinos despite the latter's immense popularity.