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May 28, 2021

The Canadian iGaming & Online Casino Market

Canada is one of the largest gambling countries in the world. It is ranked the 8th highest globally based on Gross Gambling Revenue. In recent times a huge chunk of these numbers can be attributed to iGaming. iGaming is a relatively new market in Canada but has continued to grow immensely since it arrived. It is a testament to the popularity of the industry that it has grown during the Covid-19 pandemic that has seen its land-based counterpart suffer record losses. A big reason for the is the ease with which online gambling blends with social distancing during the pandemic. They are also more flexible in terms of stakes and offer higher returns on bets. Over 70% of Canadians who gamble now do so online. That figure puts Canada in the top 10 brackets for online gamblers globally.

It is hard to give an exact estimate of what percentage of Canada’s gaming revenue goes to online gaming but there is no doubt that it takes the lion’s share. Reputable gambling houses are recognizing the importance of the internet and gave already created online platforms for their casinos. Not only does this help against other gambling companies, but it also serves them well against alternative forms of mobile entertainment like video games. Online casinos are also much easier and cheaper to set up because of third-party software providers like NetEnt and Microgaming who do all the hard work in setting and maintenance of the sites.

Online casinos are the most popular type of gaming. Mobile casinos offer a massive selection of games such as online slots, roulette, baccarat, and video poker that are available. Live casinos are also becoming very popular among people who still want to feel the atmosphere of land casinos. With live casinos, gamers can participate in an activity of their choice with live dealers and even opponents when needed.

Canada’s generally liberal approach in government has helped online casinos and iGaming grow. Many Canadian provinces don’t have strict legislation for or against online gaming. This means that Canadians are free to gamble on offshore sites. However, this has not necessarily worked in the country’s favor. The grey nature of online gambling laws means Canada loses billions of dollars yearly to offshore gambling sites. Yearly, Canada losses around a quarter of its GGR to over a thousand offshore sites.

There has been a desire from Canadian lawmakers to redirect the outflow of offshore gaming revenues back into the country’s economy. British Columbia and Quebec were the first provinces to embrace online casinos and iGaming and have been very successful in operating and regulating such games. Other regions have tried to follow suit by creating state-owned gambling sites but Quebec remains ahead of other provinces when it comes to online gambling. In their 2019/2020 fiscal report Loto-Quebec reported that online casino revenues increased by 131.6% and contributed 59% to the overall casino revenue of c $180 million

Most popular casino games in Canada

Slots are arguably the most exciting games ever whether it is three-reel or five-reel slots. A huge reason for slots being so popular is that people need almost zero skill to play the game. To a layman, it is entirely a game of luck.

Poker is so popular that it is almost synonymous with the word ‘casino’. Poker is a game that relies on skill as much as luck. Trying poker at once is almost inevitable. once inside the world of casinos. There is a kind of excitement that comes with being able to outsmart other players and bluff your way to a very big payout. Poker became the most played casino game in the world during the pandemic.

Roulette is a spinning wheel game where players place bets on either a single number, various groupings of numbers, the colors red or black, whether the number is odd or even. There are different variations of roulette and they all offer varying house edge percentages

Because of a large number of online casino websites and games available, it may be difficult to find the one best suited to your needs. To make this process much easier use guides like CasinoBernie.

What does the future hold for gaming and online casinos?

Despite the economic strain of covid-19 on the gambling industry, IGaming is still expected to continue growing at an impressive pace. While many people were forced to isolate themselves in their homes, online gambling was there to provide entertainment and a happy distraction to people who were able to gamble in moderation. A return to normalcy after people have been vaccinated could see a sizable number of clients return to brick-and-mortar casinos. However, there is no suggestion that this will heavily impact online casinos. Technology will continue to improve, virtual and augmented reality gaming are already becoming more accessible to people around the world. Cryptocurrency has become a viable financial tool in online gambling and offers more security and less hassle for players when wagering and collecting winnings.

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