Even those who know only basic things about online gambling know how it has grown in the last couple of years. During COVID-19 lockdowns, there was no alternative to them. Therefore, most players shifted to this concept. After the lockdowns have ended, most players have stayed within this framework. The reason is simple; it is a much more convenient way to play your favorite games. You can do it from the comfort of your home.
The situation in Canada was specific when you compared it to the other parts of the world. Lockdowns lasted a couple of months, and most players shifted for good. So, players now have a completely different string of things they need from an online casino. For example, finding a fast-payout casinos in Canada has become a priority. However, finding a proper one is more challenging than in other parts of the world.
One of the reasons is that each province has a right to decide on the legislation. Not to mention that not all the provinces have decided to legalize it. With that in mind, players need to be as careful as possible when they choose the one where they want to play. Today, we want to discuss the present and future of online gambling in Canada and focus on the most important aspects.
How Popular Are Online Casinos in Canada?
We have mentioned that the popularity of online casinos has skyrocketed during and after COVID-19. But this is not the only reason why this happened. We can agree that the limitations of land-based casinos are obvious. People need to sit in their cards and drive to the nearest casinos before they can participate in their favorite games. Furthermore, the lack of free time will not be a massive limitation as it used to be.
Players have access to their favorite games whenever they want. When you know that all the players want to participate in these players as soon as they want, especially today. With all the technological advancements, there are no signs of stopping in the future. Furthermore, according to all the reports, the most popular games in Canada are slot machines and roulette. So nobody should be surprised why the focus is on these.
You will find countless varieties of these games. We are talking about numerous options, so the websites must provide more options to the players. When it comes to other popular games, you will find on these sites other popular choices as well, like sports betting, bingo, lottery, and many more. Considering all these elements, you will find it impossible to come to any other conclusion than the one we made now.
Technological Advancements
Of course, technological advancements are the main drive-force behind the rise of this concept. The internet’s speed has risen significantly in the last couple of years. Therefore, there are no limitations that were present just until recently. Furthermore, the number of websites where you can participate in these is now literally countless. So you can imagine that finding the one that meets your criteria is quite challenging.
Another important aspect is the number of payment methods available today. For example, recently, online casinos offered one major payment method, credit cards. But now, players can use a string of different options, from credit cards, cryptocurrencies, and PayPal, to many other ones available out there. Your choice depends on your circumstances and whether you think some of them are more useful to you.
Digital currencies have made everything much faster. Think about it, sending money to your account on an online casino requires a certain amount of time if you use credit cards. The same goes for withdrawal. Nevertheless, if you use digital currencies, you will see that everything is much faster. On average, you will not need to wait more than a few minutes before the money lands on your account on a website or e-wallet.
The Most Important Trends
Every market has a string of trends that drive toward the future. Artificial intelligence is probably the most significant one today. When you know we are talking about the trends that play a significant role in practically every industry; you will not be surprised why this is the case. It certainly makes the experience much more pleasant for the players.
Live dealer gambling is another significant trend. Players will have a more personalized experience since they will not feel they are communicating with the machine. Instead, the live dealers will make them feel like they are in a brick-and-mortar casino.
Market Trends
Lastly, we want to touch upon the market trends in the gambling industry in Canada. The market has shown rapid growth recently. The number of players has increased massively. Men are still the prevalent gender in player demographics since they comprise around 65%, while women comprise around 35%. Of course, we are talking about the demography of players on a monthly level. Plus, you can see that Canada is frequently featured on lists of the best countries for online gambling.
When it comes to the market itself, it generates around $10 billion every year. The latest growth in market size and worth was recorded in 2021, a year after COVID-19 lockdowns which makes perfect sense. Furthermore, all the experts in the industry point out that the market’s growth will continue to rise steadily in the future. Online gambling represents a significant percentage of the market, around 55% in 2024.
The gap between the two segments of the market will likely continue to rise in the future for obvious reasons. The most important reason is an increased number of mobile phones used for gambling. It makes the websites more applicable and convenient for the players interested in participating in their favorite games. The system’s transparency also plays a significant role, thanks to the regulations in different provinces.
Summary
As you can see, the online component of the gambling market in Canada plays a significant role and will continue to do so. Here, you can look at all the most important things about the market’s future.
