While it’s certainly not Las Vegas in terms of gambling capitals, the iGaming business is a large industry in Canada. It’s one of the favorite pastimes despite the fact there’s no governmental ruling on it. The rules and regulations are handed down to state level, and not all of them are open to the idea of online gambling. Luckily, the bigger provinces such as Ontario are, allowing gambling platforms to thrive on the market.
Overall, the laws on online gambling in the country are among the most loose we’ve seen. Offshore operators can offer their services to Canadian players legally. Plus, winnings from it are not taxable as they don’t come from a source of income. It’s a large and thriving industry that doesn’t seem to stop its march, and in this article, we’ll explore how big it truly is.
Gambling Laws in Canada
There’s no single law that allows or doesn’t allow casino sites in Canada. Provinces are free to decide on rules and regulations on their own, making casinos legal. Every province and territory has its own regulations and governing bodies that issue licenses. Each casino site needs to have a license in order to offer its services to Canadian players, but offshore casinos are free to do so too. This has resulted in a major online gambling boom, with net revenues increasing all around the country.
Online Gambling Demographics
Canadians love to gamble online and that’s no lie. With such a great choice of casino sites on offer, that’s not a surprise. This roundup of new gambling platforms shows the latest and greatest casinos on the market, with players flocking to join them because of fantastic offers and thousands of available games.
According to statistics, the average Canadian casino player online is aged 30-50. Gambling preferences are different per age category. The younger players prefer slots, older players prefer casino classics including roulette and blackjack. Live casino games are popular among all demographics, but overall, online slots are the biggest game in the industry.
Not surprisingly, most players use their mobile devices to play games on the go. That’s a trend we’ve seen developing in other countries too. Casino apps are legit and popular all across Canada, with no major hardware requirements. Of course, millions of players enjoy gaming from the comfort of their home as well.
How Large is the Industry?
In global ranks, Canada is on the 8th spot among countries that spend the most money on gambling. Latest reports show that there are nearly 20 million active gamblers online in Canada – to be more precise, 19.3 million. Every year, these players spend more than $16 billion in local casinos and over $4 billion at offshore sites.
The industry is worth around $10 billion per year. The online sector brought in $1.64 billion during that time, followed by $1.97 billion the next year and $2.31 in 2023 (and counting). The market is projected to grow by 8.57% per year by 2027. At that point, it should be valued at a whopping $3.21 billion. User penetration and the average revenue per user is expected to grow too, meaning that the industry isn’t stopping down anytime soon.
This is a global trend that has seen the iGaming industry grow in many parts of the world. It’s the same in the USA and other countries as governments begin to realize how much the industry can thrive. More and more players are turning to online casinos, as they offer much better game variety and bonuses that are too good to refuse.
Most Popular Games
Online slots are by far the most popular type of game among Canadian online casino players. They come in many shapes and sizes, ranging from vintage slot machines to modern games with thousands of winning ways. Progressive jackpots are popular too because of their amazing prizes that no regular game can match. Players are impressed by the winning opportunities slots offer. They are most popular among younger players who prefer a faster pace.
Online poker is also a popular choice among all demographics. It’s popular all over the world, with the latest variants such as Texas Hold’em playing a big role in it. Poker tournaments are quite popular as well, offering high-stakes action and proper payouts for skilled players. Of course, compared to slots poker is a skill-based game that takes time to learn. Practice makes perfect for these games, and it’s a good thing that online poker games at Canadian casino sites are free to play.
A poker strategy is a complex subject, but serious players always play with one. Poker requires strategic thinking and loads of practice if you want to become a top player. It’s a game where you learn from every loss and win, unique in that way compared to any other.
When it comes to the older generation of players, they prefer bingo, blackjack, and a bit of roulette. Live dealer games are popular among young players as they are developed with cutting-edge technology that appeals to the youth.
The Future of Online Gambling in Canada
There’s no question that the future of this thriving industry is bright in Canada. Even though gambling is often seen in a negative light, players love to play casino games online and that won’s stop. Unless the government or provinces introduce stricter regulations, the industry is projected to grow.
Which isn’t a bad thing after all. Online casinos need personnel to keep everything running smooth behind the curtains. According to the Canadian Gaming Association, the gambling industry directly provides 135,000 jobs, and many of those are linked to online casinos. They don’t run by themselves, and the money spent on gambling online eventually goes back to the country’s budget.
As technology moves forward, so will the casino industry. They’re interlinked to the delight of younger players who are impressed at what new technologies can do for the industry. The iGaming industry is here to stay, and it will unequivocally grow in the future.