iGaming is one of the up and coming online industries. iGaming includes any form of game that involves gambling. For example, it could be betting on the result of a horse race, playing an online slot for real money, or playing a live casino game of blackjack. These are all forms of iGaming and the term covers a wide range of gambling activities. With that in mind, what is the current status of iGaming in Canada and how is the industry set to flourish in the country?
The Legal Bit
The first thing we must consider when discussing iGaming in Canada is the legality of iGaming. Gambling in general has been legalized in Canada since the 1970s and since the 80s, provinces have held the legal right to govern their own gambling activities. In terms of iGaming specifically, Canadian laws allow iGaming and people living in Canada can own iGaming companies. So, in relation to the law, there is nothing preventing the growth of iGaming in Canada and that alone is one reason it is set to flourish.
The Success of Other Countries
You only must look at the success of other countries to understand why iGaming is set to flourish in Canada. The United States is a good example and the country has handed control of iGaming legislation to each state. More states are legalizing online gambling every year in the United States and that means iGaming is legally being introduced to millions of new people annually. At the time of writing, iGaming using third-party and overseas gambling companies is legal and regulated in Ontario and Alberta. Most other provinces in Canada are run using strict regulation from local government but that could be about to change. As more provinces welcome overseas gambling companies, the more iGaming is going to prosper in Canada.
Popularity of iGaming
iGaming is one of the most popular leisure activities on the planet. There are millions of people who enjoy gambling, whether it be betting on sporting events or playing online casino games. That applies to Canada and in 2022, there were over 19 million active online gamblers in the country. Online casino gaming is where the industry has significantly grown in Canada and the number of people playing online casino games has increased by 70% between 2020 and 2022. It is believed by April 2022, over $1.2 billion dollars in revenue had been brought in by the iGaming industry in Canada, which is a remarkable figure. This goes to show just how quickly iGaming has been growing and why the industry is set to grow further in Canada.
Choice of iGaming Brands
As Canada opens its doors to overseas iGaming brands, the more choice Canadian players will have in the future. A quick glance at the best online casinos in Canada using MrCasinova shows there are already over 50 online casinos available in the country. If we couple that with online sportsbooks and other forms of online gambling, there are currently many iGaming options available. The choice of iGaming brands is only going to increase as the regulations are relaxed across Canada and lead to greater numbers of people getting involved.