The online casino industry in Canada is one of the most successful in the industry. And its success has been a major attraction to global investors from places like Macau in Asia, and Las Vegas and Illinois in the U.S. and beyond. But why is the online casino industry so successful in Canada? Keep reading to learn more about Canada’s online casino industry and why it attracts global investors.
How Big is The Gambling Industry in Canada?
As one of the biggest online casino markets worldwide, the revenue generated from casino and casino games in Canada is projected to reach $10.80 billion in 2025 and grow to $12.15 billion by 2029. This projection is based on a variety of factors such as the rise in the penetration of new casinos in Canada which is expected to increase the number of new players in the industry. By 2029, the user base engaging with online casinos in Canada is expected to reach 45.7 million.
Globally, Canada is ranked as the eighth country that spends the most on online gambling, with an average revenue per user of $261.86. Moreover, according to the Ministry of Finance spokesperson, Scott Blodgett, “The government intends to establish a competitive market for online legal gambling that will reflect consumer choice while minimizing the risks to consumers who play on these websites.”
Reasons Online Casinos are Attracting Big Global Investment Opportunities
The online gaming sector in Canada provides great investment opportunities. Particularly with the ever-increasing user penetration, projections for growth are all positive. Investors are jumping at this opportunity for the following reasons:
- Job Creation and Economic Impact
One of the upsides of investing in the Canadian iGaming industry is because of how it impacts the economy and creates jobs at the same time. Despite the online casinos being virtual, they still require employees such as live dealers, customer support, and developers to ensure smooth operations. At the same time, the revenue streams from these platforms can be taxed by the government thereby providing economic benefits.
- Attracting International Casino Investment
Transparency and stability are major concerns of international investors regardless of whether it is a real estate investment or an investment in digital platforms. And in Canada, investors get to enjoy this transparency backed by the government. Policies of organizations like the International Monetary Funds and Security and Exchange Commission hold casino operators to high standards when it comes to international investments.
Canada is one of the fastest-growing gaming industries thanks to its dedication to technology. For example, renowned online gambling review giant CasinoCanada partners with Ocean Spin by LaLa Stars to provide players with a top gaming experience is one of many ways Canada is ensuring it sets the standard in the industry.
One of the reasons casino stocks plummet in some regions is due to regulatory laws. But since the legislation legalizes online casinos, the industry has since been lucrative. However, unlike in some regions, in Canada, the regulatory landscape is broken down such that many regions have jurisdictive control over what is allowed and is now allowed. Some of these regulatory agencies in Canada include:
- Alcohol and Gaming Commission of Ontario
- Alberta Gaming, Liquor & Cannabis Commission
- British Columbia Lottery Corporation
- Loto-Quebec
- Yukon Liquor Corporation
- Market opportunities for investors
The iGaming industry in Canada offers a massive market opportunity for investors to capitalize on. Particularly with the rise of smartphones, and high-speed internet, investing in mobile casinos is quite lucrative, attracting a large and diverse user base. Also, with online casinos integrating cryptocurrency technology like Bitcoin the potential of these platforms is an emerging trend in the space that could yield even more profit for early investors. As Winston Churchill once said, “A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.”
- Attractive casino bonuses and incentives
When it comes to casino bonuses and other incentives, Canadian casinos are in the lead. These bonuses range from welcome bonuses to free spins, no deposit bonuses, cashback bonuses, loyalty programs, and so much more which all increase the entertainment of the platform.
These bonuses and incentives make Canadian casinos a world-class hub that local and international players are looking forward to gambling at to get more value for their money, which promises stability for investors ensuring they get returns on their investment.
Conclusion
In summary, the Canadian online casino industry is a great place for investors to consider starting a business. There is diversity in the Canadian online casino industry, with the risk controlled by reputable agencies, which in return boost investors’ profit.
When it comes to investing, there is no one-size-fits-all approach, but you can contact us as experts in reviewing various aspects of the gambling sector to share insights into our projections about this industry.
