Globally, online gambling is a popular recreation, and Canada is not an exception to the rule. Participating in the booming market as a player or casino operator demands information to make the most of the market. Canadians are wagering in local and offshore casinos. The 2021 valuation of the online gambling industry is USD 57.54 billion and will increase in 2022 and beyond. About 20 million Canadians regularly bet. That has put Canada among the top 10 gambling nations.
To enable you to stake and invest your money and thrive in the Canadian online gambling scene, find the update on regulation, preferred games, demography, market worth, outlook, and infractions.
The online casino analysis shows that Canada has ten provinces and three territories. It is illegal to set up online casinos in Canada.
- The state does not stop Canadians from betting in offshore Online Casinos in Canada
- Provincial authorities regulate brick-and-mortar casinos
- The state frowns at offshore online casino advertising to Canadians
Canadian gaming association reports put the Canadian gambling industry valuation at over CAD 15 billion and jobs created at over 130,000. A federal law passed in 2021 legalized online bets on single games. That’s a departure from the past when only pool betting was permitted.
Quebec, Manitoba. Alberta and British Columbia provinces can issue permits and have online casinos locally. In Ontario province, online casinos are legal as of April 4, 2022, and they can openly run their casinos there.
What is the preferred Canadian gambling kind?
Among the gambling types available online, Canadians prefer sports betting. The top choices in sports betting are basketball, football, and hockey. Other games are slots, bingo, and lotteries. Land-based casinos are losing their clients as more people play online casino games. For instance, Alberta physical casinos posted a loss in profit in operations from 2018 to 2019.
Online betting is more accessible to everyone due to the proliferation of online gambling sites, advanced technology, better smartphones, mobile casinos, and virtual reality. Another reason for their popularity is bonuses. As a result, provincial authorities set up their online casinos to cash in on that popularity.
Who and what is the age of Canadian online casino games player?
The number of male and female players is nearly equal. Websites state 43% are women and 55% are men. About 55% of women bet through their mobile phones more than men do. Most bettors are 30 to 50 years of age; young gamblers are part of that statistic.
Age may influence Canadian gamblers’ game choices. Younger bettors play faster games, while older players take less risk. Most women and men bet in different games in Canada. Men wager on sports, and women bet on Bingo games. Canadians prefer slots, roulette, poker online casino games. The most favoured online game by Canadians is Slots.
What is the value of the gambling market in Canada?
Canadian online casinos market analysis reveals that the gambling market grossed $2.64 billion. In 2021, the online casino market’s net earnings, despite the legal licensing issues that limited its expansion was $1.2 billion. Since online casinos are legal in Ontario, that may boost the online gambling business in Canada and generate more earnings for the country.
Roundup on Canadian online casinos
Initially, Canadians only played in land-based casinos. That tendency has changed. Now there are more than 2,000 online casinos Canadians can bet on. The gross earnings of those offshore online Canadian casinos are billions of dollars. In the years to come, their revenue may rise.
The Canadian nation does not collect taxes on gambling earnings from citizens. They keep all their betting income. Only professional gamblers must pay taxes on their regular winnings.
The outlook of the online casino market in Canada
The future holds better things for the casino industry in Canada. Many brick-and-mortar casinos closed during the COVID pandemic. The aftermath pushed gamblers to be available on online casinos in Canada, and they have not looked back. Other things that influenced the expansion of the online casino market are many. They are explained below as the 2022 market trends to watch.
Promotion of online casino games
New laws caused a change in the way casinos advertise their offers to Canadian gamblers. Casinos are installing software that increases players’ capacity to control what they can access at a casino. Players can decide the games or advertisements they want to see on a Canadian casino site.
The upsurge of live dealer games
Canadian online casinos are serving gamblers live dealer games. On those live games, gamblers have genuine gambling experiences. They can speak to other competitors in a poker game and tip the dealer.
The debut of crypto casinos
Casinos are increasingly accepting funding of player accounts with cryptocurrency. Presently, a few of them are full-fledged cryptocurrency casinos. Players who want to stay faceless can do so and have the privacy to play casino games.
These casinos advertise fast funding of players’ accounts and immediate winnings’ withdrawal. Payments are via blockchain through proof of work or proof of stake instead of fiat currency methods, which pass through a bank and card processors for authorization.
eSports wagering explosion
The e-sports wagering will keep increasing in 2022. It could become the highest-grossing sports game in Canada. The interaction quality of online casino games may likely make esports games the most popular online game. When you bet on eSports, the actions are real-time and full of exciting activities.
Canadian gambling market crimes
Criminals usually take advantage of popular platforms to launder ill-gotten wealth. Gambling is avenue money launderers use. The online casino Canadian platforms are not immune to criminals.
From 2015 to 2016, British Columbia’s authorities fined casinos and individuals 3.1 billion CAD for failing to comply with non-involvement with financial crimes. Model cases include Hard Rock’s casino in Ottawa, fined more than 220,000 CAD for 36 infractions by the Ontario regulator.
The second case is a well-planned money laundering scheme at Casinos in greater Toronto and Niagara. The criminals were heavily penalized for their actions.