The global gaming industry is projected to reach $500 billion in revenue by 2023, and Canada is one of the countries where online gambling is growing in popularity.
Thanks to its quite relaxed gambling laws compared to many other countries, including the US, fun-loving Canadians can easily enjoy their favorite online casino games.
Let’s go over the Canadian online gaming industry and see how popular online casino games actually are in the country.
The Industry Size
Canada makes around $31 billion a year from online gambling, and this figure is projected to grow more in the next few years. Online casino games are popular among players since they allow them to enjoy an authentic casino experience without leaving their homes. Also, online casinos use new technologies to introduce exciting options and advancements.
With online casinos, the players save plenty of time and money they would otherwise be spending on parking and other land-based casino amenities.
It is estimated that over 65% of the population above gambling age will place a bet sometime in the following year.
As per reports, around 80% of online gamblers in Canada still are men, while women represent only around 20% of players. While women are more interested in luck games such as Bingo, men are more into slots and table games. When it comes to the predominant group, these are young career men and women.
Until recently, online gambling was illegal in Canada, and now, each of the provinces has its own way of regulating the industry.
There are two types of gambling laws in Canada:
- The First Nations Law
- The Provincial Law
The federal laws in Canada are designed to pass regulations to each territorial or provincial government.
Some local laws are quite rigorous. For example, The Ontario Gaming Law as well as the City Bans on Gaming pose restrictions that make it hard for players to gamble in online casinos. That is why players in Canada need to make sure they understand legal requirements in their own area before they engage in online gambling. Some Canadian cities like Markham even introduced laws that ban online gaming.
Selection of Online Casinos
There is no need for Canadian gamblers to worry about a lack of online casinos available for them, both locally and in other countries.
There are more than 450 licensed online casinos that use the English language and accept Canadian dollars as currency. On top of that, more than 120 licensed gambling sites accept Canadian dollars and offer customer service in French.
If you’re looking for the most reliable online casinos in Canada, try to research your options on a comparison website such as: https://www.casinotopsonline.com/top-canadian-online-casinos, which ranks some of the best operators based on their features, user experience, and other criteria that can help you identify the best casino in Canada for your needs.
Since every online casino is partnered with some of the leading game providers, they are able to offer a larger variety of games than land-based casinos.
Canadians are well-versed in technology and they love using their mobile devices to play online casino games on the move.
When it comes to the popularity of online casino games, different types of roulette are considered to be the favorites across the country. Other games highly ranked among Canadian players are slots, poker, blackjack, and baccarat.
Licensing and Safety
Online casinos cannot operate online legally if they do not obtain proper licensing. Some of the well-known examples of licensing authorities in the industry are The UK Gambling Commission and the Malta Gaming Authority.
In Canada, trustworthy casinos are registered and licensed by the Kahnawake Gaming Commission (KGC). Seeing that a casino is licensed by KGC is a sign of a reputable operator that will not misuse the players’ payment information.
A reliable online casino should also be using the latest SSL Encryption that keeps the clients’ personal information safe from fraud.
Relaxed Payment Methods
Another reason why Canada is experiencing a rise in the popularity of online casinos is the fact that they offer various convenient payout options.
Any time Canadians wish to deposit or withdraw money, they can choose between Visa, MasterCard, PayPal, Neteller, or Entropay.
Also, the players do not need to use currency conversion in order to play. Casinos accept both US and Canadian dollars and the players have the option to choose which of the two currencies they wish to use so they could avoid paying conversion fees.
Online casino games are very popular among Canadian players. Thanks to less restrictive laws and new technological advancement, it became convenient for Canadians to engage in exciting web-based gambling.
Since the country is already making billions of dollars from online casinos and the demand is constantly growing, the revenue is expected to grow even more in the following years.