Online casinos are thriving all over the world, but it looks like only a couple of countries really dominate the global market. Not surprisingly, the US leads the way as it is by far the largest online gambling market, but most people are indeed surprised to hear that Canada is the runner up in this race.
So, what does the online casino industry in Canada look like? What is the market size and what makes online gambling such a massive business in Canada? Buckle up as we are about to answer all of these questions in the coming paragraphs.
How much does it generate?
If you say that online gambling in Canada is a big business, you are actually making a serious understatement. The figure is surprisingly high, even for experienced business analysts who’ve been following the virtual gambling realm for years.
According to one of the most recent reports, the online casino industry in Canada makes a profit of $12 billion per year. This fact alone makes digital casinos one of the fastest-growing businesses in the country.
What is even more important is the prediction that the market will keep expanding. Internet is becoming more accessible, online apps are getting better, while casinos keep investing in new and more entertaining virtual games. All this leads to what seems to be a never-ending expansion of the business and, for the moment, it is really hard to say when the whole process will take the U-turn.
Key online gambling expansion factors
Okay, online gambling in Canada is flourishing, but what’s the catch here? The truth is that numerous factors drive the expansion of Internet-powered gambling in Canada, with some of them being more influential than others. We will focus on the most important impact factors and describe them one by one.
- The whole world is going online.
The first reason is fairly simple – gambling is following global trends and going where the target audience spends most of its time. Of course, we are talking about the Internet because you can find and do almost anything online these days. People enjoy shopping online, making friends online, doing business online, so it’s natural to see them gambling online as well.
- Comfort and convenience.
Online gambling provides players with unparalleled comfort and convenience. You can sit back, relax, and enter the most trusted $5 deposit casino within seconds. There’s no need to go out, drive, wait for a cab, or do similar time-consuming activities. All this makes gamblers satisfied and ready to play even more than they planned in the first place.
- Play at your own pace.
Some gamblers love the thrill of a traditional casino, but most of them prefer playing at their own pace. When you play your favorite casino games virtually, there is no dealer to push you to play faster and you can really do your thing without missing a single detail of the game.
- The pandemic closed offline casinos.
Another major reason why online gambling in Canada is thriving is the coronavirus pandemic. The virus forced state authorities to close offline casinos and it gave a huge opportunity to online casinos to step in and grab their market share. Players who used to gamble offline simply switched to online games without noticing any major changes.
- Online gambling is legal and regulated.
Online gambling has always been a bit shady, but it turns out that the business is legit and legal in Canada. Although there are a few restrictions, the truth is that online casinos can operate regularly in this country. Of course, such status only helps casinos to attract more players to their sites.
The bottom line
Online gambling in Canada has been growing steadily over the past couple of decades due to a wide range of reasons. The industry generates billions every year and it still continues to grow. In this article, we gave you an overview of the Canadian online casino market and explained the main growth drivers.
The prediction is that the business is going to keep booming in the years to come, but you are free to leave a comment if you think that the online casino industry in Canada is entering the stagnation period.
Read more: Best Canadian Online Casinos
