How the Online Gaming Market in Canada is Increasing

When viewed holistically, there’s clear evidence that Canada’s gaming industry is heading for steady growth in 2020 and beyond. What’s fuelling this growth? Quit banging your head against the wall, and read on to uncover how online gambling activity is assisting Ontario, British Columbia, Quebec, and Alberta economically. Let’s dive in. 

The rapid growth of online gaming

Canadians are enjoying greater freedom with easing regulations on online casinos. This freedom can be summed up into quicker deposits and withdrawals. There's no pressure in Canada. The gambling culture enjoys relaxed regulations compared to its neighbors, the United States. That's when it hits you; it's time to move to Canada. The size of the legalized gaming sector nearly tripled from 1995 where it stood at $6.4 Billion, to about $15.1 Billion in 2011, according to a study by the Canadian Gaming Association. Astonishing, isn’t it? 

So let’s take a closer look into what exactly is driving this growth. First things first, innovation is taking the place of the gaming market. The rapid growth of Canadian online casino has been assisted by innovations which allow players to load up games instantly, and enjoy gaming right from their browsers, no download needed. As a result, online casinos are starting to play a significant role in the industry, with their land-based counterparts losing their share of importance to these iGaming operators. 

Furthermore, the advances made in terms of applicable technologies in the gaming industry allow Canadian players to enjoy a wide range of games online. For starters, HTML5 technology allows casino games to become accessible on smartphones and tablets with an internet connection. Think about it this way; without these software platforms, there’s no engine to drive the casino industry, which means the industry will flop. 

Beyond that, gamers can deposit and withdraw funds quick and easy. Canadians are spoilt for choice here. The most popular payment processing platforms remain the usual household names, include Visa, MasterCard, and Interac. But hang on, players are also getting buoyed by the adoption of new technologies and modes of payments, notably cryptocurrency payments, which uphold the integrity of fund transfers, and real-time settlements. 

Then again, the shift towards online gaming in Canada can be seen as part of the much broader trend experienced the world over. There’s sufficient statistical evidence to show that the value of the gambling industry could balloon to $180 Billion in the next two years. Perhaps the growth is driven by the ever-expanding entertainment industry. 

Contributions to the Canadian economy

So what do all these mean to the economy of Canada? Let's not forget the number of goods and services necessary to sustain the operations of online gaming in Canada. The answer might surprise you. Take a close look at gambling list casinos; you'll realize how the growth of the industry coincides with the growth of the communication sector, both printing and publishing, professional and business services, food, and beverage industries, as well as finance, insurance, real estate, hospitality, and more. 

Once the gaming industry has nailed the growth of these industries, the chain reaction is created from the purchase of goods and services. In the end, the online gaming market sustains the economy of Ontario, followed closely by British Columbia, Quebec, and Alberta, among other Canadian provinces. 

Through the combination of eased regulation, consistent innovation, and promotion, Canada’s online gaming sector is quickly emerging as a hub for online gaming. In any case, you can imagine a future where Canada is at the forefront of the iGaming industry in the world. The number of foreign gambling vendors is also on the rise, who are now admitting Canadian players to play slots online for real money.