Get to Know the Canadian Casino Growth Forecast for the Year 2022
Online gambling is one of the fastest-growing sectors in Canada and other areas globally, and it is expected to continue increasing. With more than 19.3 million active online gamblers, Canada is the seventh most prosperous country in the world regarding online gambling revenue.
Already, several regions are capitalizing on the lucrative nature of the sector. Saskatchewan, Ontario, Alberta, and British Columbia are involved.
With over 20 million Canadians actively participating in online gambling activities, it should be no surprise that the nation generates significant money from the business.
As you have seen, the Canadian casino business has lagged behind the European market for a few years. Still, recent regulation changes have resulted in a significant increase in the industry’s size.
In recent years, Canadians all around the nation have begun to embrace the newest online casino websites, which may be more convenient than their land-based counterparts in certain ways.
According to the previous year’s numbers, the market is predicted to rise even more in 2022, which indicates a 13 per cent increase.
Recognizing the Changes in the Population
Canadian internet gamblers are roughly evenly split between men and women. Women account for 43 per cent of all online gaming users, while males account for 56 per cent. Female gamblers are more likely to use mobile devices than males. Female online gamblers use their mobile devices at around 55%.
In Canada, most internet gamblers are between the ages of 30 and 50. Then there are also a number of younger players. A person’s gambling inclinations may change as they become older.
Those in their 60s and 70s favour games like bingo since they are easy to play and don’t need a lot of effort. Younger players, on the other hand, like fast-paced games. Slot machines are the most common online casino game in Canada.
How Much Money Do Canadians Make from Gambling?
In 2021, the gaming business in Canada brought in $2.64 billion. Online gambling generated $1.2 billion in revenue. Many argue that the nation would be better off without the need for a provincial government to license all online gaming firms.
Investors from other countries have flocked to Canada’s online gaming business because of its wide variety. They’re anticipated to boost future online casino earnings for the country’s government.
The Changes in Online gambling license
An abnormality occurred in the casino sector in 2021 due to a large number of new companies joining the market, particularly in the e-sports industry.
Nonetheless, many land-based casinos were forced to shut their doors, and several of these establishments launched their online casino websites to meet players’ requests.
Every data and forecast produced by industry professionals indicate that the number of online gambling sites will continue to expand.
The licensing for online gambling has changed.
The FATF (Financial Action Task Force) placed Malta’s gambling licenses on a “grey list” in 2021, prompting some online casinos to request that their operations be moved to another licensing location, namely Kahnawake, to avoid being blacklisted.
In addition to being a well-respected jurisdiction, the Kahnawake gaming license comes with a cost-effective, flexible, and very quick set-up procedure. As a result, it is very appealing to startups worldwide.
Currently, roughly 250 gaming establishments are regulated under the Kahnawake jurisdiction, with the number of such establishments projected to rise even further in 2022 as more and more startups are opened.
Casino trends in 2022
These sorts of casinos have been more popular among online gaming providers in recent years, resulting in many casinos becoming pure cryptocurrency casinos. They are more efficient, but they also provide a more secure and anonymous payment method.
Because cryptocurrencies function on blockchain technology, transactions do not need to be authorized by a central financial institution. As a result, transactions using cryptocurrencies do not need approval.
Players benefit from the greater anonymity and speed of gaming afforded by cryptocurrency payments, which eliminates the need to wait for withdrawal requests and deposit approvals and allows them to play more quickly.
Virtual Reality (VR)
VR has been present for some time; the video game industry has recently begun investigating it more as virtual reality headsets have been more widely available.
Many online casino games, particularly live poker games, are already built on virtual reality technology, and the trends indicate that this will continue to develop in the years ahead.
Virtual reality assisted in bridging the gap between land-based casinos and their online counterparts by providing players with all of the know-how and professionalism of a land-based casino in the form of a virtual gaming experience.
Educating others on how to play responsibly
In the previous year, we have witnessed a rise in the promotion of responsible gaming, and this trend is expected to continue into the year 2022.
With the changes in legislation, there has been a significant increase in the focus on gambling addiction. To assist players experiencing such problems, many online casinos like spinzbonus.com have established their responsible gaming departments, which are staffed by professionals who are ready to assist.
Additionally, throughout these gaming websites, you will find links and extra data on how to obtain assistance for a gambling addiction problem.
Live dealer games are becoming more popular.
Online casinos are always striving to improve their gaming experience and make it more engaging for their customers to stay one step ahead of the competition. The use of virtual reality in live dealer games (for example, online poker) has been shown to deliver a more experienced, professional, and consistent gaming experience.
After considering all of the good improvements in jurisdictions and the steadily expanding number of online gambling sites, it is reasonable to state that the Canadian online casino market is incredibly promising for the year 2022.
Much new technological advancement is assisting in providing a nice user experience for casino players nowadays. The introduction of virtual technology, cryptocurrency payments, and e-sports betting has resulted in a significant increase in the online casino business, which is expected to continue in the future year.