Legal Online Gambling Industry in Canada Continues to Grow

Legal Online Gambling Industry in Canada Continues to Grow

We live in a world that is constantly connected. Can you imagine a life without your phone, your tablet, or your laptop? A world without Wifi? Whether we’re online shopping, catching up on the news, or keeping in touch with friends, the internet is an integral part of our day to day lives. But what about online gambling: is it a part of your everyday online life, and is it legal in Canada? The connectivity of the online world is complicated, and at present technology is developing much faster than the laws surrounding it. So whilst online gambling, both with local and offshore sites, is certainly not currently considered illegal in Canada, many experts consider it to be a “legal grey area” that will be incorporated into stricter legislative policies in the near future.

Online Gambling in Numbers

Despite this perceived confusion surrounding the legalities of online gambling, legal online gambling in Canada is a massively growing industry. The global online gambling industry is currently worth billions of dollars with projected growth targets set to reach incredible revenue figures of over 500 billion US Dollars by 2023. Of this, a considerable percentage is originating from Canada, with Canada having recently secured its place as one of the top ten countries with the most online gamblers within its borders. As a result, the Canadian online gaming industry currently earns $31 billion a year.

Both online and offline, Blackjack is the most popular casino game in Canada. There are several reasons for this, but the main one is that Blackjack is simple to learn and easy to play. Thanks to the popularity of Blackjack and the growing demand for online casinos where it is possible to play with a live dealer, more and more people that are new to the world of online gaming are choosing to give it a try. What’s more, new innovation and technology in the online gaming industry will only serve to make it more appealing to a broader audience in Canada, leading to increased financial growth for the industry.

A History of Growth

The growth of the gambling industry in Canada is undeniable, but this upward trajectory was first noticed during the post-recession period of 2012 onwards, a sign that the economy was beginning to look up. This wasn’t just online gaming though, which was in its infancy at that point. Gambling through land-based casinos, land and online sportsbooks, and lotteries, as well as through online casinos, slots and other online gaming options all grew in the years that followed this point.

This growth has been experienced all over Canada, but in no province more so than Ontario. Ontario is known to have more gamblers than any other province in Canada. As well as the number of individuals who take part in online gaming, it is also listed as the territory which has the highest gambling revenue in the country.

The CAGR of Ontario is at 28.1%. This is closely followed by British Columbia which has a CAGR of 24.6% and Quebec which has a CAGR of 20.3%. Quebec is worthy of note because its revenues from gambling have increased very quickly. Quebec’s gambling revenues have experienced an increase of around 2.12% each year, which is the highest increase of any Canadian state. This made the territory generate over 3 billion Canadian Dollars of revenue in the past year, but it’s important to note that this figure comes from a combination of onshore and offshore sources.

If you’re considering how to choose the best online casino in Canada then you will need to think about whether you would prefer to use a casino that is based in Canada or one that is based offshore. You may also think about the kind of graphics and game style you prefer. Online gaming developers such as Microgaming, NetEnt, PlayTech, and Real Time Gaming ae all highly regarded amongst Canadian gamers.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.