Online gambling market size – Gambling became legal in Canada in 1985, introducing slots and games as a great entertainment option for people. It took for a whole decade to create modern casinos that offer a wide range of possibilities for enthusiastic players. The development of technologies brought online gambling to the market. It is entirely legal in most forms so that players can enjoy a relaxing game. Most of the online gambling options are around Canada’s favourite sports.
The situation on the market
The gambling industry brings revenue of staggering $12.4 billion per year.
From 2015 to 2020, the Canadian market had a decline in gambling services. The slow income growth together with high living costs left Canadians with less money for hobbies and other activities. Consumers had less money to spend, so the demand for non-essential services and goods experienced a fall.
Online gambling is increasing in popularity due to the changes in the industry. The mass use of mobile devices has made gaming a convenient experience. Online casinos and useful resources like canadacasinoreviews.net are available on mobile devices via apps. Everyone can access their favourite game via their smartphone or tablet. The improved internet speeds and modern technologies such as 4G and 5G allow smooth and fast connectivity. All of these advancements have made online gambling evolve and become widely available for everyone.
Nowadays, more and more online casinos appear on the market. They come packed with different games so that everyone can pick their personal favourites. Having lots of other choices is appealing to users, as they aren’t limited only to a few games.
Canadian players value the advantages of online gambling and switch from land-based casinos to online casinos. The users find this a more convenient option due to all the benefits it offers. They can easily access their favourite games on a smartphone or tablet. Players like the fact that they don’t need to waste their time driving to local casinos. Also, they are anonymous, and no one knows when they play or how much they spend on stakes.
Trends for gambling in Canada
Horse racing is one of the most popular sports in the country. This brings many sports enthusiasts willing to put a bet on their anticipated outcome. There are over 44 horse tracks, so players have so many options for people that enjoy sports betting.
Online gambling offers the right mix between both Canadian and American sports. Hockey is most popular with Canadians. This sport is considered the national treasure of Canada, so it is highly popular when it comes to sports betting. The Canadian Football League is another option. However, the choice isn’t limited. Players can place their bets on Lacrosse, as they have the best players in this sport. Next comes football, especially during the World Cup.
When it comes to online games, slots are Canadians’ favourite. Nowadays, a significant percentage of the games available are different types of slot games. This shows that the market is ready to cater to the customer’s needs.
The predictions for the future
During the next five years, the demand won’t experience the same rapid fall. Experts anticipate growth in the economy, which will lead to income increases. People will start spending more on gambling, and the industry will grow.
The introduction of new technologies will change the whole industry for the better. We already saw companies featuring better applications with an easy-to-use interface and smooth graphics. The advancements won’t stop here. VR technologies are expected to make a great connection with gambling. As Virtual Reality devices become more affordable, they will conquer the mass-markets. This will allow players to enjoy the real experience from the comfort of their own home.