Online casino industry in Canada experiences growth
Predictions for the rise of the global gambling market have never been brighter. As an industry estimated to go well beyond $525 billion by 2023, the online gambling scene is currently one of the most prosperous branches of the entertainment industry. It is not just Canada that is expected to see a surge in gambling activity, the US is also another huge market that is being forecasted to grow over the new few years.
With a continuous shift from traditional gambling activities and land-based casino establishments to their online peers, gambling is being revolutionised. Technology and the advancements in mobile and desktop devices are one of the growing reasons for the increase in popularity. Online casinos, sports betting, poker and even games such as bingo, are more accessible than ever before. Reaching new demographics and a broader player bases, operators are looking to cash in more and more.
When it comes to growth and potential, Canada is currently one of the most exciting markets on the global gaming scale. By various parameters, the Canadian gambling market is rapidly growing in volume. Technology is what drives the growth forward and especially the popularization of gaming through mobile gaming and its mass adoption.
A high-speed internet connection and widespread accessibility have made online gambling highly convenient. The players can now easily access the best online casinos in Canada and play their favourite games without hassle. There is more choice and more information available for those wishing to play than ever before. A need for a connected lifestyle is proving even more popular, not just for social media, but for social gaming too.
The brick-and-mortar gambling venues are fighting a losing battle against their online counterparts in Canada and it is being reported that Canadian land-based casinos have decreased revenues year after year. It seems more and more time constraints are placed on people and people looking to gamble, can now do so in a much quicker, more convenient way by playing online.
Canada is a liberal gambling market at the moment and this is another reason behind such rapid growth in online gaming. Canadian players benefit from a relaxed regulatory frame currently in place compared to the United States for example. Whilst the US is in the middle of regulatory change across the states, it will be some time (years in fact) until gambling is legal in most states.
The Canadian government has a somewhat lenient approach towards gambling and leaves it up to provincial authorities to determine the legality of online gambling services. As a result, some provinces have already taken a no-go approach whereas the others have widely embraced it with open arms.
There is a slight shift in general opinion, however, with provincial legislators beginning to understand the financial potential behind online gaming. With regulated online gaming markets bringing a substantial amount of revenue each year, provinces are introducing regulations that are aiming to put a stop to black-market operations which cannot be taxed.
The non-state licensed operations are still a grey area. The Canadian government’s decentralized approach has, however, allowed the Canadian players to enjoy off-shore online casinos, bingo halls and poker rooms without limitation.
When it comes to taste and preference, Canadian players are not that different from the rest of the world. Microgaming, NetEnt and Playtech lead the way when it comes to online slot products. Moreover, Canadians very much enjoy traditional casino games such as Poker, Blackjack and Roulette.
Live dealer scene is what truly prospers in Canada, however. One of the leading providers of live casino solutions, Evolution Gaming, was the first to enter the Canadian market in 2018 with its state-of-the-art studio located in the New Westminster area of British Columbia.
Evolution’s Canadian studio was the company’s first outside of Europe which speaks volumes for Canada’s appeal to iGaming at the moment. Moreover, the fact the New Westminster studio was the first to operate with its standalone data centre is testament to Evolution’s dedication towards the growing Canadian market.
In addition to providing a new dimension of gaming to Canadian players, Evolution Gaming live dealer studio also created a great number of jobs for residents and thus aided the provincial economy which has yet to reap the full benefits of the ever-growing gaming scene.