Canada’s Casino Gaming Industry: In Numbers
Many Canadians enjoy playing casino games. The country’s gambling industry is now emerging as a significant contributor to the nation’s economy as more people have become interested in this form of entertainment. Last year, it is estimated that the industry achieved around $15.44 Canadian Dollars in revenue, with online casino games and gambling accounting for almost $5 billion dollars of this.
In this blog post, we explore the size and growth of Canada’s casino gaming industry. We look at key trends in the industry, hurdles that it has had to overcome and the future outlook of casino gaming in Canada.
An overview of the gambling industry in Canada
In Canada, the gambling landscape encompasses everything from traditional land based casinos to online platforms, lotteries and charitable gaming initiatives. While lotteries have been considered the biggest sector in the country’s gambling industry, casino gaming is now a particularly popular form of betting, with top played games including slots, poker, blackjack, baccarat and roulette.
The casino industry is expected to grow by around 6.39 percent. In recent years there has been a sharp increase in the amount of people engaging in online casino gaming as the legalisation and regulation changes in provinces such as Ontario have supported the industry to grow and thrive.
Across all internet gambling categories, the average spend per player is $308 Canadian Dollars and there are around 132 million active play accounts each quarter. Internet based casino gaming makes up a total of 86 percent of all bets placed and around 75 percent of revenue.
The shift to online gaming is a significant trend in the country’s gambling industry. These online platforms are favored because they provide convenience and a great range of choice in games.
Also as usage of smartphones has increased and internet connections become more reliable, these types of games have become much more easily accessible for a wide audience of Canadian gamers. Now, players can find casino games at the touch of a button and play in intuitive mobile apps and in-browser sites.
So, what are some other trends that we are seeing in Canada’s gambling industry?
Live dealer games are on the rise and popular choices include live dealer poker, live dealer blackjack and live dealer roulette. These games work by live streaming the game from a physical studio or land based casino and allow the player to play at home and interact with the dealer in real-time.
These live dealer games are a great choice for those that enjoy the authentic casino experience and the convenience of being able to play remotely. While not every online casino platform provides this offering, the number of sites is increasing and so too is the range of live games to choose from.
Another trend we are seeing is the integration of technological advancements such as Artificial Intelligence or AI in casino gaming platforms. AI is now being used in a number of ways to help enhance the customer experience, such as through providing personalized content and optimizing game offerings. AI is also used in customer support through chat bots that answer common customer queries or point to resources on the website.
What are some of the barriers that the casino industry is facing in Canada?
Regulatory challenges
The regulatory environment in Canada is complex for gambling and legislation varies from province to province. This can be a challenge for casino operators to navigate and is similar to the challenges operators face between different states in the United States.
However, more provinces are more to take a less prohibitive stance on land-based and online casinos, presenting opportunities for more casino operators to bring their to Canadian customers.
Security and fraud risks
Regulation ensures that robust security measures are in place in the country for casino gaming, however fraudulent activity still remains a concern. Casino operators have a responsibility to protect their players from financial crime and are investing in cybersecurity provision to help reduce risks.
Market saturation and increased competition
As more online casinos have begun to offer their services in Canada, the market has become significantly more competitive for operators. Because of this, operators need to ensure they are taking steps to differentiate themselves and have a unique offering, this is why many run great bonus offers and promotions targeted at new casino players.
Future outlook for the casino industry in Canada
The Canadian casino industry continues to grow and the online sector in particular has a good outlook for success. It is predicted that by 2030, online gambling will reach a compound annual growth rate of 14.4 percent.
Also, it is likely that technological innovations such as blockchain and Virtual Reality (VR) will play a bigger role in Canada’s casino scene as developers invest in it to transform the casino gaming experience even more and attract broader audiences.