A Closer Look At The iGaming Industry In Canada

Photo by Jason Hafso on Unsplash
2 years ago

Online gambling, also known as iGaming, is increasingly popular in Canada. Old and new players are turning to virtual games and joining online gaming platforms.

But why is this industry growing so fast? Why are individuals looking to play online games more so than traditional, in-person games?

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In this article we’ll look into the iGaming industry in Canada and the reasons behind its increasing popularity.

What is the iGaming industry?

As mentioned previously, iGaming is synonymous with online gambling. The term is used to refer to all forms of online gambling.

For example, iGaming consists of consumers who play online poker, online sports betting, poker games, esports betting, and more.

The iGaming industry can be linked back to the invention of the World Wide Web (WWW) in 1989.

Invented by British scientist Tim Berners-Lee, the web has led to new opportunities for the gambling and gaming sector.

New technological developments continue to revolutionize and impact the iGaming sector.

Gambling and Canada

In Canada, most forms of gambling have been legalized since the 1970s. In 1985, the government authorized the different Canadian territories and provinces to supervise local gambling activities.

The country is known for having more relaxed gambling laws than the United States of America.

The Canadian city with the most gambling players appears to be Ontario. In 2011, it was revealed that 82.9% of adults living in Ontario had gambled at least once that year.

As for online gambling, it is legal in Canada and is now gamers’ favorite form of playing.

As a matter of fact, Canadian gamers are some of the world’s biggest online gambling spenders. The country is ranked in the top ten online gambling spenders.

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The popularity of iGaming in Canada

The economic performance of the iGaming industry in Canada is very impressive. Online gambling is reaching new levels and contributing massively to the country’s economy.

According to a recent study, there are over 19.3 million active online gamblers in 2022.

Online casinos are particularly popular. They have increased by 70% since 2020.

By April 2022, Canada’s online gambling industry had already brought in $1.2 billion dollars in revenue.

But why is online gambling so attractive and so successful in Canada? What are the factors that come into play?

Some of the reasons behind the popularity of iGaming

iGaming is a growing and expanding industry in Canada for several reasons. First of all, Canada legalized gambling relatively late compared to some other countries.

Gambling is relatively new in the country but has had time to expand and grow abroad. Since its legalization, the market has boomed as a result of legislators who review online law for iGaming.

Casinos, both virtual and physical, began to open up across the country. Players seem eager to catch up with other countries and explore gambling games.

In recent years, gamers have had many more legal gambling options to explore. This might be exciting and novel for many of them.

Perhaps the relative ‘newness’ of the gambling industry in a country like Canada, is contributing to iGaming’s success and popularity.

Another reason is the convenience of online gambling. Players can play from the comfort of their homes without having to travel to a gambling venue.

This is attractive for many individuals who enjoy playing virtually.

A third reason might be the expansion of the market itself and the acceptance of gambling in society.

Indeed, the larger the market, the more gambling options are available to players. This in turn attracts more gamers who are seduced by the growing selection of games.

Because gambling games are becoming more popular, gambling in general is now becoming much more accepted. As mentioned previously, many Canadians have gambled, in particular in big cities like Ontario.

The removal of punitive laws and regulations has led to societal acceptance of gambling. In addition to that, gambling has proven to be very beneficial to Canada’s economy, bringing in billions in revenue.

iGaming’s positive economic contribution and financial boost to Canada’s entertainment sector is making it all the more popular.

A fourth reason is the improvement of technologies. Indeed, iGaming is growing in popularity thanks to the rapid technological developments.

Online gambling on a device is now an enjoyable and smooth experience thanks to the current technology, it works for a variety of other different genres too, especially those who like to play online shooters too.

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The future of iGaming in Canada

The market is sure to increase over the next decades with more and more gamers turning to online gambling.

The future technological developments will also contribute to the market’s expansion.

Online casinos and gambling games such as poker, roulette, and blackjack, will continue to attract players. They will also deliver improved gaming experiences year after year.

Live dealer games in online casinos are also on the rise, revealing that gamblers are happy to interact with other players virtually.

Despite the increase of iGaming, players will also have the opportunity to visit physical casinos if they want to play both virtually and in-person.

Final thoughts

In this article, we have discussed iGaming and its popularity in Canada. We have explored some of the reasons behind the success of online gaming and the specific example of Canada.

We have then discussed the potential future of the iGaming industry and its predicted growth over the next decades. Technology is definitely iGaming’s best ally and will help the sector expand considerably.

For more business related news, read online articles here.

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