iGaming or online gambling has been gaining popularity in Canada in recent years. Gambling is legal and regulated in the country. However, different provinces have regulatory bodies and laws governing betting.
As a result, the booming iGaming industry owes its improvements to various factors. They include legislative changes, technological advancements, and more. Online casinos attract locals and tourists. Cities like Montreal and Calgary are known for their exhilarating casino scenes.
Nonetheless, some provinces still have stricter regulations and conservative stances concerning gambling. Let us explore the Canadian gambling industry in numbers to determine its growth and 2023 prospects.
The Numbers Growth of Online Gambling in Canada
Did you know that the Canadian gaming industry contributes nearly $10 billion in revenue yearly? In 2021, the sector was valued at $12.54 billion. Most revenues came from lottery sales, and around 19.3 million people gambled in the past year.
As a result, the country ranks eighth among countries where people spend the most money gambling online. Interestingly, over 95% of the players were considered non-problematic gamblers.
Slots, poker, and roulette are the most popular electronic games in Canada. The increasing mobile device popularity has contributed to the expansion. Providers use mobile-friendly websites and dedicated mobile apps to improve access.
In 2016, the Canadian province of Quebec launched online gambling sites becoming the first province to allow legal gambling. Likewise, Ontario launched the internet gaming market on April 4, 2022. But to participate, operators must register with the Alcohol and Gaming Commission of Ontario.
In Canada, 43% of online gamblers are female, while 56% are male. About 55% of females prefer betting through their mobile devices compared to males. Most gamblers are aged 30-50; however, youngsters bet since the legal age is 18 in most provinces. Older betting fans prefer laid-back Alberta casino games like bingo.
In contrast, younger players enjoy fast-paced games like slots. There are currently over 2,100 online casinos in the country, and since there is no tax on gambling returns, players keep 100% of their winnings. But be careful, as this rule only applies to recreational gamblers. Professionals pay tax, but the threshold varies by territory.
The Factors Behind iGaming Growth
Various factors contribute to the boom in iGaming among locals and tourists. The most popular are technological advancements, which have provided ease and convenience. Mobile technology is powerful, and users are increasing at a steady rate.
Operators are adopting these intuitive solutions to improve customer engagement and satisfaction. Unlike in the past, players can now access games via mobile phones and play from anywhere.
Another reason for growth is the availability of bonuses and promotions. Operators use gifts to attract new players and retain existing ones. Casino rewards include free spins, deposit bonuses, cashback, and more. The attraction incentivizes gamblers to play, which improves the industry’s growth. Furthermore, there are inexhaustible options players choose from.
The iGaming industry is highly competitive. As a result, developers release new games monthly in an attempt to provide variety. The proliferation helps players try out different selections. It further prevents monotonous gameplay and promotes enjoyment.
But the most important consideration is gambling legalization. There have been several changes surrounding online betting. These rules make it easier to gamble legally without worrying about punishments. The initiatives have helped to open the sector and drive more people to become involved.
iGaming in Canada
Online gambling is generally legal in the country. Nonetheless, it is subject to regulations and licensing by each province. Quebec and British Columbia have launched their online gambling platforms. In contrast, other provinces allow licensed operators to offer their services. Take a look at the most popular gambling options available below.
Sports Betting
In August 2021, Canadian lawmakers amended the nation’s criminal code bill C-218. It allowed single-game sports betting making gambling in Canada legal. The legislation allows provinces to decide whether they want to allow sports wagering and in what forms. Ontario’s sports betting sector supports over 12,000 full-time equivalent jobs and contributes about $1.6 billion to the province’s GDP.
Nova Scotia first legalized single-event wagering on February 11, 2022. Likewise, Saskatchewan launched the BCLC-powered PlayNow sportsbook on November 3, 2022. The Canadian Premier League announced a partnership with TonyBetas as its official sports betting partner in April 2023.
Some popular sportsbooks in Canada include DraftKings, BetMGM, Bet365, BetRivers, and Caesars Sportsbook. Provincially run and licensed international platforms adopt responsible gaming measures to protect players. For example, age verification, self-exclusion options, and more.
Online Casino
Online gambling is regulated in Canadian online casinos. However, the law varies by province. Gamblers can legally play poker and online casino games in Ontario, Quebec, and British Columbia. British Columbia has PlayNow, Ontario has PlayOLG, and Quebec has Espacejeux. In addition, players can visit offshore gambling websites not based in the country.
These sites have an extensive game selection and may not be regulated by Canadian authorities. The regulatory bodies overseeing gambling include the Alcohol and Gaming Commision of Ontario, Kahnawake Gaming Commission (Quebec), the Loto-Quebec, and the British Columbia Lottery Corporation.
Traditionally, Canadian casinos accept the Canadian dollar. However, some international online casinos don’t support CAD transactions. As a result, players encounter currency conversion. Furthermore, different payment providers offer varying rates and charge transaction fees.
This method is cumbersome and ultimately leads to paying more. To ensure players get only positive emotions from gambling, reputable Canadian dollars casinos accept bettors from Canada and allow gambling with their currency. Hence, players don’t need to endure stressful currency conversion or worry about legality.
Casino operators must meet specific requirements to be licensed. In addition, they have to adhere to regulations set by provincial gambling authorities. It includes using various advanced security measures to protect players and promotions to attract gamblers. Operators have optimized their websites for mobile devices, while most have dedicated applications for convenient access.
2023 Outlook
The industry is undergoing transformations fueled by technology. They include blockchain, immersive 3D software, cryptocurrency, and AR/VR integrations. By examining other countries, we can predict iGaming will continue to grow throughout the year.
Countries with strict gambling laws are easing regulations. Hence, the newest online casino Canada providers are venturing into these markets. With new players entering the market and Canada’s relaxed legislation, these companies won’t encounter any issues.
As a result, experts believe gambling revenue will increase by 30% to 40% by the year end. The gambling industry is projected to grow to $133.9 billion by 2028 and shows no signs of slowing down.
Bottom Line
Betting in Canada wasn’t always like this. In fact, there was a time when it once had one of the strictest rules surrounding gambling. However, times are changing, and the country is relaxing its regulations. As a result, more companies are flocking into the sector. If anything, the iGaming industry will continue to grow for many years to come.
The economy will benefit from such advancements. Therefore, we expect new legislation and the development of the gaming business to make betting more accessible for players. More players mean better reward programs and offerings that promote unique player experiences.
