Online gambling is among Canada’s fastest-growing industries. The same is true in other parts of the world. Globally, Canada ranks position eight among nations that spend the highest on online gambling.
Several provinces countrywide have taken advantage of iGaming for its lucrativeness. These provinces include British Columbia, Alberta, Ontario, and Saskatchewan. Each day, Canadian casinos record thousands of visitors. Both online and land-based establishments enjoy a huge customer base.
Similar to other online gambling markets, Canada is unique. That’s why casino investors focus much on this iGaming hotspot. Below are 5 interesting facts about Canadian online casinos.
Unique Payment Solutions
Among the many factors that players consider when choosing an online casino are the supported payment methods. Globally, there is a plethora of banking solutions accepted at various casinos. However, the number tends to drop when you narrow it down to individual casino markets.
Besides the globally accepted payment methods, Canada has its country-specific solutions. Payment methods such as Interac and Entropay are specific to Canada. That’s why you’ll rarely find them on casino sites outside Canada. Through the aforementioned payment solutions, Canadian players can link their bank and casino accounts. By so doing, they can make effortless top-ups and withdrawals.
Yet another payment solution available specifically for Canadians is PayByPhone. Even though the payment option is available in the UK and US as well, it is more prominent in Canada.
Mobile Gambling Demographics
The landscape of active Canadian online gamblers becomes quite interesting when you consider player demographics. Although females love gambling a lot, the majority of players in Canada are males. Moreover, most Canadian players are young adults who are still in college or at the early stages of their careers.
Males make up about 80% of players in Canada. The interesting part about the player demographic is that — although most males gamble a lot, women take part in mobile wagering more than males. In fact, Canada is among the few countries where females outnumber males in mobile gambling. About 55% of females who gamble in the country use their phones. Gambling over the internet is more pocket-friendly. It is also quite convenient on several fronts.
Age Demographics
Based on our research, Canadians that are most likely to engage in gambling are between 30 and 55. Be that as it may, the number of young gamblers cannot be overlooked. The major difference between players within these age limits is all about preferences.
Younger gamblers prefer gambling options that are more active. Moreover, they like making wagers online since it is cheaper. Older people, on the other hand, prefer games that are more chill and comfortable. These include bingo, blackjack, and roulette.
However, note that this pattern has an exception. Old and young Canadian players alike prefer playing slots. This has remained so since the hype of slot machines began in the country. Again, Canadian players spend relatively more on slots games than players in the US. They spend about $385 per person annually.
Prevalent Casino Games in Canada
Online casinos in Canada have a vast selection of games. The selection is usually diverse since gamblers have varying preferences. You can play table games, slots, and live casino games. All popular online casinos have a wider selection of fun games in the aforementioned categories.
In 2022, the most prevalent casino games in Canada are slots. Table games like roulette and blackjack come second. Shockingly, poker has the lowest popularity in the country. Although the latter is popular on an international scale, it is left to competitive players that prefer skill-based titles.
If you are looking to have fun in Canada, you can always try your luck in table and slot games. Outside the casino setup, scratch cards and lottery games are also available.
Canadian Gambling Laws and Market Cap
Currently, Canada’s legislation on gambling is kind of a gray area. This is because it works on two different levels. First, the country has a Federal law that applies to all provinces. Second, you’ll find the Provincial law that allows each province to regulate gambling sites independently. That’s why understanding gambling laws in Canada can be confusing.
The Provincial law allows each province to overrule the decade-long federal ban on gambling. They can now formulate gambling regulations as they please. For instance, provinces like Saskatchewan have set 18 years as the legal gambling age. Others like Ontario only allow 19-year-olds and above to gamble. Notably, Alberta has friendlier gaming regulations while Ontario is pretty strict on the same.
To some people, statistics is not always an area of interest. However, it becomes important to mention a few with regard to market cap. How else can we appreciate that lucrative online casinos are in Canada?
Currently, the iGaming market cap in Canada stands at CAD$14 billion. Compared to the past years, this number has reduced mainly because of the coronavirus pandemic. Nonetheless, the market cap is expected to recover as time goes by.
Interestingly, offshore online casinos benefit more from this market cap. This, therefore, calls for better regulation to ensure the revenue is collected greatly from within the country.
Closing Thoughts
Undoubtedly, various gambling markets have different peculiarities. It even becomes more interesting when the uniquenesses play a critical role in shaping iGaming in the country. In Canada, the gambling market is still evolving.
More interesting facts and trends will come up in the coming years. Maybe males will outnumber females in mobile-based gambling in the future, or maybe poker will be the most popular casino. Who’s to say?
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