Over the last few years, the Canadian gambling industry has grown faster than what’s expected. Today, it stands at almost over $11.5 billion, which is projected to hit more than $50 billion in coming years.
You can easily find the best casino online Canada, given more than 19 million active online gamblers and many legitimate online and land-based casinos in the county.
In fact, New Zealand ranks eighth in making most of its money through online gambling. According to the Canadian Gaming Industry Report, Canadians spend more than $4 billion annually on offshore online gambling sites.
Let's find out more about the gambling industry's size in Canada!
The Current Gambling Market In Canada
Currently, the provincial authorities govern the Canadian gambling market and not the federal laws. However, the country has many restrictions and bans on gambling activities. But after British Columbia proposed a new Gambling Control Act and set a legal age limit for bettors, the situation became better. Also, the new act limits the betting amount on each player that you can make on best Canadian online casinos.
What Are the Most Popular Gambling Types in Canada?
Online sports betting is very popular and famous in parts of Canada. Sports betting fans in Canada are happy to make bets on their favorite teams and players to make a profit. However, most people prefer to bet on games like football, hockey, basketball, and other mainstream sports.
Although traditional casinos are great, more people are moving toward online casinos and sports betting sites in the country. It is because online gambling sites are easy to access for everyone from anywhere. Moreover, they are convenient and generous with bonuses and other amazing prizes.
How Much Is the Canadian Gambling Industry Worth?
In 2021, the revenue of Canada's gambling industry was about $2.64 billion. And almost $1.2 billion of $2.64 billion was from online gambling. In addition, the diversity of online casinos or gambling in the country has attracted plenty of offshore investors. So, it is assumed that the gambling industry's net worth will likely increase soon.
Also, the country's authority plans to fix some issues to make the online gambling market more secure and useful. It means that recreational gamblers can access a wide variety of betting options.
The online gambling industry is big in Canada and can increase in the future too. There are various online casino and sports betting sites that allow you to place a bet from anywhere at any time.