The Popularity of Online Gambling Among Millennials
Online casino gaming has become more popular in Canada through the use of offshore sites in all legal age-limit groups. Yet, one group stands out for a particularly steady popularity increase in online casino games and sports betting: millennials. With this new trending leisure activity, more online platforms are becoming available e to Canadian players by providing safer online gambling.
What Is the Attraction of Online Gambling?
One of the key factors driving the increase in online gambling among millennials is the widespread use of smartphones and other mobile devices. The ability to access gambling platforms on the go has made it easier for millennials to participate in online gambling activities. Additionally, the availability of a wide range of online casino games themed around pop culture elements draws fans of film and music closer to experience a different side of their favourite artists and films.
- Convenience/accessibility – Available to access/download from most smart devices.
- Entertainment – Various gaming categories are popular among millennial age groups, including traditional blackjack and poker games and newly advanced crash and crypto games available from select platforms.
- Exciting promotional offers – Exciting promotional offers are available from most reputable and licensed gambling sites where players can get ‘bonus money’ which is essentially free credit provided to the player when a deposit has been made, such as with the BitStarz casino welcome bonus for players from Canada.
- Potential big wins – Although gambling is always up to chance and never a guaranteed win, potential big wins are always on the cards.
- Responsible gambling tools – Unlike most ground-based online casinos, online platforms have various responsible gambling tools to assist players in being limited to how much they can spend or lose in a predetermined timeframe.
- Social attraction – Through live immersive games ‘real dealer games’ players are attracted to the social aspect of meeting fellow players and being able to communicate with the dealer.
Is Online Gambling Safe?
Yes, online gambling has grown in popularity largely due to its wide acceptance stemming from the strong regulatory existence in the industry. In online gambling, platforms must adhere to strict safety measures, provide responsible gambling tools, and be transparent about the terms, bonus wagering requirements, and more.
Furthermore, through the strict regulatory requirements set out by authorities including UKGC, MGA, and others, online gambling platforms are required to undergo strict fairness tests for their ‘RNG’ Random Number Generators and security measures.
What Are the Stats Surrounding Online Gambling?
The majority of online gamblers in the world tend to fall in the age bracket between 22-34. The first sign of this was seen in 2014 when the use of real money gambling went up more than double (18% from 2013 to 32% growth by 2014).
- Revenue from online gambling in Canada is projected to reach up to 4.19bn by the end of 2024 with a further annual increase of at least 6.39% up until 2029.
- Regarding user penetration, Canada s considered the country with the highest projected penetration rate in the world at 69.4%
- ARPU (Average revenue per user) in Canada is considered to reach close to $154.40 per person by the end of 2024
- The worldwide gambling market is forecasted to reach usage numbers of up to $33.9 million by 2029 with a market volume of $5.71
A True Millennial Trend – Safer Legal Gambling
As online gambling continues to evolve, regulatory bodies are addressing the importance of responsible online gambling among all age groups taking part in online gambling. With online gambling being considered mostly legal by Canadian regulators and policymakers, online casinos are however, by law prohibited from operating in Canada, which in turn has sparked great interest among millennials to opt for legal and highly reputable off-shore gambling platforms.