The Canadian gambling industry has long been regarded as one of the fastest-growing fields of entertainment. The market of gambling services and offers now peaks at C$30 billion per annum, eventually showing that this niche is one of the largest worldwide. Those wondering what made Canada such a perfect example of a growing market, a few reasons stand out the most.
While the Canadian legislative system is favorable for the growth of land-based and online gambling projects, people in Canada are also fond of gambling. Other notable reasons include adequate taxation, proper regulation from the Canadian Gaming Association, and favorable provincial gambling laws. Let’s take a closer look at the current state of the gambling industry in Canada in 2020 in our featured analysis, as follows.
COVID-19 or Switch to Online
Although it is hard to estimate what share of the enormous C$30 billion worth online casinos have, they seem to be leading in 2020. It was quite common for most Canadians to take a road to the nearest land-based gambling venue back in the days. Right now, most reputable platforms have already switched online, bringing their loyal customers to a digital domain. Such a switch is noticeable in most countries with favorable and liberal gambling laws, meaning that Canada is no exception.
With a novel outbreak of COVID-19, even more fans of old-school gambling have likely switched to digital platforms. It is worth mentioning that Canadian growth in the sector of gambling service was achieved due to a decentralized approach. It means that each province is considered responsible for shaping its policy related to online gambling. Such an approach means that the residents of a Nova Scotia province can easily access an online casino registered in Quebec, where online platforms can operate without any barriers.
Another notable reason why the Canadian market of gambling services is so vast in Canada relates to mobile technologies. Alongside the growth of online gambling sites, mobile technologies were developing accordingly. Since Canada is a fairly developed country with a great extent of mobile appreciation, people aren’t scared of using mobile payments and their gadgets for Internet-related spendings. This regional specification has allowed mobile gambling endeavors to skyrocket all across Canada.
It is worth noting that gamblers in Canada are interested in finding the best platforms to enjoy their favorite casino games. However, it might be somewhat hard to find a legit and safe online casino in Toronto. In such regard, we do our best to publish updated reviews on the websites available. If you’re looking for the best casino in Toronto, don’t hesitate to get acquainted with the reviews. There, we will recommend all the best sites that can enrich your gaming experience considerably. The increasing popularity of such websites as ours, coupled with an overall interest in mobile gambling, is among the main trends that shape the state of the Canadian gambling industry in 2020.
When it comes to the economic implications of gambling, this niche is regarded as one of the most ambitious parts of the entire Canadian entertainment industry. According to the research, the gambling industry alone provides approximately 135,000 full-time jobs. What is more, its revenue equals C$9 billion per annum, whereas these funds are used to fund a range of governmental-initiated funds and social programs. Except for these impressive statistics, one can also recall that Canada has adequate taxation policies regarding online and land-based casinos. The more players wager, the more tax incomes the Canadian government can generate in the long run.
Another factor to mention is a prospective future for the incomes generated by the online gambling sector. Right now, more and more ordinary players are looking for a well-rounded online casino in Ontario. The good news is that our website has dozens of review articles on choosing a proper online casino. In case you’re interested in online gambling Ontario, it might be wise to read the reviews and get to know more about digital platforms there. After all, such an interest in online gambling only projects a bright future for the entire niche of online casinos in Canada.
Quality of Services
When we discuss liberal and favorable laws regarding online casinos, you shouldn’t forget that even a criminal code is a convincing reason for platforms to offer the highest quality of gambling services. That means you can be certain that all online casinos operating in Canada would be licensed, monitored, and tracked by the respective regulatory authorities. What is more exciting is that the market for sports betting in Canada is also subjected to similar regulatory approaches.
Although liberal rules and regulations are definitely positive for the industry’s growth, they also create healthy competition among online casinos. In other words, all platforms are doing their best to stay competitive and appeal to users. Such a decentralized approach was definitely helpful in building one of the most impressive online gambling industries globally. It also ensures that all games presented in those online casinos would be certified by independent testing agencies to ensure that they’re not rigged. What attention to detail!
Future of the Industry
One of the greatest aspects of the Canadian gambling industry is that it is likely to grow even further. The ceiling hasn’t yet been reached, whereas the demand for land-based and online casinos is growing. Thanks to liberal regulation of gambling endeavors and an overall interest in gambling among Canadians, this market will undoubtedly show even more promising results in 2021 and further on. When dozens of companies are continually releasing their new products, alongside investing in land-based infrastructure gambling projects, the industry is unlikely to fail. We are waiting in anticipation for the next year to track how the situation with casinos and sports betting will change in Canada. As for now, enjoy what you have, Canadians!