The progress and evolution of the casino gaming market in Canada
We live in a world where everything is just two clicks away from us. The connections and possibilities are continuously growing, but legislation and laws may differ from country to country. It’s not easy to say what is the current situation in Canada, as laws and legislation in different provinces vary.
Canada’s Gaming Market Rise
It is estimated that the global gaming market today is worth over $150 billion. It is expected the total revenue to reach over $500 billion by 2023. This makes it one the most advanced and continuously growing industries out there. The gaming industry in Canada contributed $4.5 billion to the country’s economy.
Researched data shows that the casino industry in Canada is mainly characterized by a shift from traditional to online gaming activities. The ease of access and convenience are the main reasons why people prefer to play online. Comfort, flexibility, and being able to claim bonus without making a deposit are among the strongest advantages of online casino sites over their land-based counterparts.
Technology and Progress
Like many established online casino providers, the Canadian casino industry uses technology and data analysis, in order to improve the efficiency of marketing practices. The deployment of predictive analytics and Big Data has allowed us to measure and optimise the offer and demand of this product. These analyses also help in developing and presenting new features that customers would want to see.
As blockchain currencies became a popular way to pay and place bets online, providers in Canada have united in making a crucial decision. They have agreed to allow gaming with cryptocurrencies. The rise of crypto popularity happened because of the big demand and interest from players and investors. Players get more benefits from Bitcoin because it is a safe and encrypted payment system. The interest among gamers has significantly increased and it affected the global economy contribution.
Government rules and regulations
The Government in Canada has a decentralised approach when it comes to casino games in general. Each province or territory is allowed to have its own take and laws regarding gambling within their borders.
Quebec is the first well established state when it comes to online gaming in the country. Provinces like Manitoba, Alberta and Saskatchewan are trying to follow Quebec’s good practices. Ontario is known to be the place where most registered players come from. It is listed as the top territory to have the highest gaming revenue in the country.
While laws in some provinces might seem complex and confusing, there are no real restrictions on the Canadian casino market. Online casino games remain legal as long as they don’t advertise in provinces where casino gaming is not legalised.
From a federal point of view, the state respects everyone’s right and free will when it comes to online activities. Each person has the freedom to play games and engage in other online activities, as long as they are legal. This also refers to online casino games.
Online gaming licence applications are continuously in pending processes, while land-based are not that attractive and popular for providers. Despite the success of many offshore casinos, the Government still holds to its regulation processes on online casino legislations.
Future plans and market growth
The rapid growth of online gaming is mainly enabled by innovation and the spirit of innovation that is fully embraced by the casino industry. Online deposits and withdrawals are possible and easier than ever before. Games load instantly and can be played directly from your browser, there is no need to download them. Open an account with bet365 Canada and you can get bonus money and start playing right away.
The synergy of embracing the new technology and government freedom leads to the continuous industry growth and success. The contribution to the economy is expected to grow by 50 per cent in the next five years. Along with these statistics, it is expected that there will be more than 150 000 new full-time job positions in this industry by the end of 2025.