Gambling in Canada has long been something with which the Canadian government has struggled to get along well, and laws around gambling can be confusing. However, the system does allow gambling to be managed by provincial government, so depending where you travel or are based in Canada, you may or may not be infringing upon laws when it comes to gambling.
The attitude of consumers to gambling, however, is changing. Different genres of gambling have helped to attract different fans. Poker tournaments are popular, and homegrown talents such as Daniel Negreanu have helped the game to build a large fanbase. Below is a look at the gambling industry in Canada, with a focus on the factors that have contributed to its growth, at the benefits for consumers and at what the future might hold for the industry.
The state of the gambling industry in Canada
The opening of the first lawful casinos in Canada has been significant, for since then the industry has flourished and experienced some serious growth. Today, the industry is worth more than $12 billion, and within the next nine or ten years it could become more than $50 billion.
Players have a wider range of choices and opportunities for gambling. A new gambling law has helped to create even more choice for betting fans by making it possible to bet legally on single sports games. Of course, this depends on whether the province wishes to allow this.
Online gaming, which has been something of a grey area in some instances, has been growing steadily. The new law now brings more legitimacy to online operators.
Understanding the growth of the industry
The Canadian public has long had a passion for gambling, but previously, they’ve had to go underground and pursue their gambling illegally. Regulation of the industry has had a major impact. Gambling has become integrated into the country and become a means of entertainment for the citizens that they can enjoy legally in those provinces that allow it. Operators can also apply for licenses and provide their services legally.
The regulation of the industry means that players can play safely and securely, especially if they’re playing at an online casino. This makes online operators very attractive to any citizen wishing to play casino games or engage in other betting activity from the comfort of their own homes. Players should check for the eCOGRA stamp of approval, which indicates an online casino has passed strict tests and gaming on the site is fair.
Greater accessibility has also been a key factor in terms of online gambling services. Registration processes are straightforward. In just a few minutes, players can create an account and begin playing, and they can play from anywhere in the world. This greater convenience is important to Canadians, who are used to having various betting options and now don’t have to go far out of their way to find a reliable gaming service.
How consumers and the gambling industry are benefiting from industry growth factors
The greater accessibility of gambling facilities such as online casinos has now made gaming an entertainment option for citizens who previously might not have considered it. Features such as low wagering have enabled people who earn low salaries to participate in gambling and keep their pursuit of this in their leisure time affordable. It’s also led to more interest in gaming.
The regulation and allowance of gaming also benefits tourism in the country. When abroad, some tourists like to enjoy a casino experience, The growth of the gambling industry makes it possible not just for locals, but also for tourists to play safely. As the industry grows, gambling service operators can reap the benefits of tourists coming in through their doors.
The future of the gambling market in Canada
The changes in the laws around online gaming have created many opportunities in a market that has seemed underserved. Although online gaming wasn’t completely illegal in Canada, punters were having to rely on offshore operators to accommodate their gaming needs. Now the industry can become more profitable and provide more options.
Gambling has become much more a part of the lives of citizens in Canada, and the world of tech is striving constantly to develop ways of technology into people’s lives. As a result, this may see the incorporation of virtual reality into the online casino experience and possibly into the sports betting one.
The Canadian gambling industry has grown, thanks to new regulation and greater accessibility. Canadians can enjoy even more gambling options, and as the industry grows even further, the number of options is likely to increase, which will be much to the delight of citizens.