Published on April 12th, 2022
The online gaming industry in Canada is flourishing. Video games and the best online casinos for Canadians are widely accepted, gathering millions of players on a daily basis. The industry is expected to keep growing in the next years, as new technologies emerge and more people join in the fun.
The industry already has serious economic effects, so we can only expect it to become more important in the following years. But what is the future of the online gaming industry in Canada? Keep reading to find out!
The Size Of The Canadian Online Gaming Market
First of all, we need to take a look at the current size of the Canadian online gaming market. According to Statista, revenue in the online games segment is projected to reach $349 million this year. The same source says the market will keep increasing by 7% a year, reaching $461 million in the next five years.
A more important stat is that the online gambling market in Canada is worth well over $12 billion. This means that Canadians love digital casinos and spend a lot of money gambling on the Internet. The trend keeps booming due to many different factors, so we will check them out next.
Why Do Canadians Love Online Gambling?
There are many reasons why Canadians love online gambling. The simplest way to put it is to say that digital casinos offer a number of advantages compared to traditional outlets, but here are the specifics:
- Convenience: Users can gamble from the comfort of their homes, without having to leave the house or spend money on transportation.
- Variety: There is a great variety of games available online, including slots, roulette, blackjack, and poker.
- Bonuses: Most casinos offer bonuses to their players, which can be used in any game of their choosing.
- Security: Online casinos are much more secure than physical ones. Players don’t have to worry about losing their money or getting scammed.
With so many benefits of online gambling, it’s not a surprise to see that the market is growing big time.
The Most Important Online Gambling Trends In Canada
We can analyse the gambling market in Canada from various points of view. Some trends are very important because they largely contribute to the overall progress of the industry, which is why we want to address them first. Here are the factors that influence the growth of the online gaming market in Canada.
Not all countries take the same approach to regulate online gambling. In some cases, online gambling is completely banned, while in others it is legal but heavily regulated. This can make it difficult for gamblers to know where they stand, especially if they live in or travel to a country with strict laws around online gambling.
The good thing about Canada is that it is one of the countries that have embraced online gambling. The Canadian government has regulated the industry, making it easier for players to access casinos and gamble without any legal issues. This is a major reason why online gambling is so popular in Canada.
2. Mobile Gaming
Another trend that is contributing to the growth of the online gaming market is mobile gaming. More and more people are using their smartphones to gamble, as the technology allows for a great gaming experience. Besides that, almost everyone owns a smartphone these days.
This is also true for Canada. The majority of online casinos are now mobile-friendly, so players can enjoy their favourite games on the go. This is a major plus for the industry, as it widens the reach of online gambling and attracts even more players.
3. Game Variety Is Getting Bigger
Game variety is one of the defining characteristics of the online casino experience. Unlike brick-and-mortar casinos, which are limited by physical space, online casinos can offer hundreds or even thousands of different games. This includes all the classic casino staples, such as slots, blackjack, roulette, and poker, as well as a wide variety of niche games.
This abundance of choice gives players the opportunity to find the perfect game for their personal tastes and preferences. Whether you’re looking for the biggest jackpots, the simplest rules, or the most immersive experience, you’re sure to find a game that suits your needs at an online casino.
With so much on offer, it’s no wonder that online casinos are becoming increasingly popular with players from all over the world. Canada is by no means an exception.
4. Social Gambling
Another big trend in online casinos is social media gambling or simply social gambling. Social gambling is a type of online gambling that uses social media platforms like Facebook and Twitter to connect with potential players.
It is a relatively new phenomenon that allows users to play their favorite casino games together. For instance, social media gambling can provide a way for people to connect with friends and family who share their interest in gambling. That way, they can all enjoy the experience together without having to leave their homes.
This type of gambling is especially popular in Canada, as the country has a strong social media culture. Many people use social media to stay connected with friends and family, so it’s no surprise that they are also using it for gambling purposes.
5. Live Casinos
Canadians who want to take the best of both worlds tend to play live casino games. Live casinos are online gambling platforms that offer a live, real-time gambling experience. This means that instead of playing against a computer or random number generator, you’re playing against a real dealer, in real-time.
Live casinos use cutting-edge technology to bring the casino experience to you, wherever you are. All you need is an Internet connection and a device with a webcam. Whether you’re at home or on the go, you can enjoy all your favourite casino games with a live dealer. You are able to chat with the dealer and other players, just like in a real casino.
And because everything is happening in real-time, you get all the thrills and excitement of a land-based casino from the comfort of your own home. Live casinos are becoming increasingly popular in Canada, as they offer a unique and engaging gambling experience that can’t be found anywhere else.
Technologies That Drive The Market Growth
Needless to say, online gambling would be impossible without some seriously advanced technologies. These technologies are the main success drivers because they stand behind the amazing features that online casinos offer. They make it possible to provide gamblers with all sorts of casino functions.
There are several technologies that are driving the growth of the online gaming market, and they include:
1. The Internet
First and foremost, we have the Internet itself. The Internet has allowed for the development of online casinos as a viable business model. It provides the infrastructure through which players can connect with each other and play casino games from anywhere in the world.
According to the report, the Internet penetration in Canada is almost 95%. This basically means that almost all Canadians have access to the Internet, making it the perfect platform for online gambling.
2. Mobile Technology
Another key technology that is driving growth in the online casino market is mobile technology. With more and more people using smartphones and tablets, it’s no surprise that the online casino industry is booming. Mobile devices provide an easy and convenient way for people to access their favorite casino games from anywhere.
At the same time, smartphone-related stats in Canada are similar to the Internet itself. A study shows that 32 million people in this country own a smartphone. It’s a huge number, so it’s no wonder that online casinos are seeing such success with their mobile versions.
Besides that, many digital casinos create special apps for their players. These apps allow for an even better mobile casino experience, as they are specifically designed for smartphones and tablets.
3. Blockchain And Cryptocurrencies
Blockchain and cryptocurrencies are the two types of technologies that are shaking up the entire online gambling industry – and for good reason. Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.
It powers crypto coins such as Bitcoin and Ethereum. What are the benefits of blockchain and cryptocurrencies in virtual casinos?
They provide a secure and transparent way for players to gamble online. Plus, they allow for fast and easy transactions, which is perfect for the casino industry. This is because casinos often need to process large amounts of payments quickly.
Another benefit of cryptocurrencies is that they are global currencies. This means that players can use them to gamble at any online casino, regardless of where it’s based. This opens up a world of possibilities for Canadian players who want to explore international casinos.
All in all, the combination of blockchain technology and cryptocurrencies is proving to be a major game-changer for the online casino market. It’s likely that we’ll see even more innovations in this area in the years to come.
4. Virtual Rreality
Finally, we have virtual reality (VR). It is a simulated experience that can be similar to or completely different from the real world. The user wears VR headsets such as Oculus Quest, HTC Vive, or PSVR, which provide stereoscopic displays and motion tracking to immerse the user in a virtual environment.
VR is still in its early stages of development and casino application, but it has the potential to completely revolutionize online gambling. With VR, players will be able to experience casino games in a completely new way. They will be able to step into a virtual world and interact with other players as if they were really there.
This is an exciting technology that could potentially attract a lot of new players to the online casino market. It remains to be seen how popular VR will become, but it’s definitely something to watch out for in the future.
How To Choose The Right Online Casino In Canada
We already explained what makes online casinos so great and popular among Canadians, but how do you pick the best gambling platform? After all, there are hundreds of options waiting for you at any given moment, so it can be hard to make a decision. We prepared a list of tips that can help you make the right decision. Let’s check it out!
1. Look For The License
The first thing you should do is check whether the casino has a license. A reputable and safe online casino will always have a valid license from a recognised authority. In this case, we are talking about the Canadian Gaming Association because this agency is responsible for regulating the online gaming industry in Canada.
Legit online casinos will always display their license on their website. It’s not just a way to prove their legality, but also a tactic to attract new players. That’s because players are more likely to trust casinos that are licensed and regulated. But if you can’t find the license quickly, then you should probably move on to another casino.
2. Check The Games Offered
The second thing you should do is check the games offered by the online casino. Not all platforms offer the same games, so it’s important to make sure that the one you choose has your favorite titles. This is very important in digital gambling because the best casinos can offer all kinds of games.
Apart from traditional casino games like poker and blackjack, you can also find VR games, slots, and even scratch cards. These games come in many different forms and themes, thus becoming even more interesting than the original versions. So make sure to browse through the game selection to see if there is anything that catches your eye.
3. Read The Reviews
The next thing you should do is read casino reviews. This will give you a better idea of what the platform is like and whether it’s a good fit for you. Make sure to read as many reviews as possible, from different sources. This will help you get a well-rounded view of the casino.
Keep in mind that not all reviews are created equal. Some might be biased, either positively or negatively, so take them with a grain of salt. But if you see many negative reviews, then it’s probably not the right casino for you.
4. Check The Payment Methods
Another important thing to look at is the payment methods offered by the casino. This is especially important if you want to use a specific method like Bitcoin. Not all casinos accept this form of payment, so you need to make sure that the one you choose does.
You should also check the minimum and maximum deposit and withdrawal amounts. Some casinos have high minimums or low maximums, which might not be suitable for you. Therefore, you will need to read all the payment details before making a decision.
5. Check The Payout Percentage
The payout percentage is another important factor to consider when choosing an online casino. This number tells you how much of the money wagered on games at that casino is paid back to players in winnings. A high payout percentage is always a good sign.
You will often see it as the so-called RTP. The acronym RTP is an online casino gaming term that stands for Return to Player. It’s a theoretical statistic that shows how much money a particular casino game will pay back to the player over time. The higher the percentage, the better your chances of winning are.
For example, if a game has an RTP of 97%, that means it will pay back $97 for every $100 you bet on it. While there’s no guarantee that you’ll win every time you play, games with a high RTP are generally more favorable to players than those with lower RTPs.
6. Make Sure The Casino Is User-friendly
You should also check the casino’s user-friendliness. This includes factors like the layout of the website, how easy it is to navigate, and how well the games are explained. If the casino is difficult to use or the games are confusing, then you’re likely to have a bad experience.
7. Find The Best Bonuses
Don’t forget to look for the best bonuses offered by the casino. This could include a sign-up bonus, a deposit bonus, or a free spin bonus. Bonuses can be a great way to boost your bankroll and increase your chances of winning.
However, not all bonuses are created equal.
Some are much better than others and it depends on the game you want to play. So make sure to compare the bonuses and see which one offers the best value. You should also read the terms and conditions carefully to make sure you understand what you’re getting yourself into.
8. Test Customer Support
Finally, you should test the customer support of the casino. This is especially important if are a new player and you have certain questions or concerns. The best way to do this is to send an email and see how long it takes for them to respond.
You can also try calling the casino and see how helpful they are. If the customer support is bad, then it’s not the right casino for you. So make sure to test it out before making a final decision.
The future of online gambling in Canada is definitely bright. There are many great casinos to choose from, and each one has its own unique advantages. So make sure to do your research and find the one that’s best suited for you. And remember, the most important thing is to have fun while gambling responsibly!