One of the fastest growing sectors in the Canadian economy is the online casino industry and the online gambling industry in general. According to recent reports, there are now more than 19 million active gamblers, and the most notable provinces are said to be Alberta, British Columbia, the newly regulated Ontario, and Saskatchewan. What does the future hold for online gambling in Canada? Find out more right here.
How popular has online casino gambling become in Canada?
Online casino gambling has always been popular in Canada, but more so in recent times, and the country now ranks eighth on a global scale among countries that generate the most revenue from online gambling. Don't forget there are land-based casinos too, which annually generate somewhere in the region of $16 billion. A further $4 billion is spent at foreign operator-controlled online casinos that are licensed offshore and fall outside of Canadian jurisdiction. In the first quarter alone in 2022, the newly regulated iGaming sector in Ontario generated $162 million.
What types of gambling are legal in Canada?
There are lots of different ways to have a flutter in Canada, and the main forms of gambling that are currently legal in Canada (both online and offline) are:
- Video lottery terminals
- Charitable gaming
- Sports betting
- Casinos
- Horse Racing
- Lottery (including bingo)
- Online gambling
- Table and card games
Regulated online gambling is available via the Ontario Lottery and Gaming Corporation (OLG) at OLG.ca, the official body that oversees online gambling in the province. OLG and iGaming Ontario also work closely with the Canadian government and the Alcohol and Gaming Commission of Ontario (AGCO). In 2022, the best land-based Ontario casino has to be the Niagara Fallsview Casino Resort, which has many of these different forms of gambling all under one roof (apart from horse racing, obviously).
If you can't afford to get to the Niagara Fallsview Casino Resort, or if it's just too much hassle to travel there, then you may want to consider playing at an iGaming Ontario-licensed casino instead, such as ComeOn Casino.
What is likely to happen over the coming years?
At the time of writing, there are around 40 trusted gambling sites that are licensed and regulated in Ontario, and they often rank among the highest-rated gambling sites in the world. It's a huge, relatively untapped market in Ontario, so over the coming years, we are likely going to see even more globally renowned operators applying for an online gambling license with the official licensing authorities and regulatory bodies. In other words, we will see even more variety of gambling sites popping up.
As more options become available with generous new player welcome bonuses, more people will start gambling online at casinos, sportsbooks, poker sites, and bingo sites, which, in turn, means that the industry will also generate even more revenue than ever before. However, this could lead to a rise in problem gamblers, which the Canadian government, the regulatory & licensing authorities, and various non-profit and charitable organizations will be keeping a close eye on.
Some of the other changes we are likely to see first are more people gambling from their smartphone or tablet device and far more games being developed and released. Faster internet speeds and improved technology, plus several other factors, will also help create a better experience for the player. In short, the online casino industry's future looks bright, and there will no doubt be huge growth over the coming years.