One of the best ways to earn money while having fun is gambling. However, the introduction of online casinos has transformed the entire gambling market.
A few researchers predict the value of the gambling industry to increase to more than $114 billion by 2028, all thanks to the accessibility and convenience of online casino platforms.
And you may be surprised to know that Canada is one of the leading countries contributing to impressive casino growth worldwide.
Gambling has dramatically expanded in Canada. More than 79% of Canadians partake in such gaming, reflecting the craze and increased popularity of gambling and casinos in the country.
New to the Canadian gambling landscape? This comprehensive guide explains the popularity of online casinos in Canada and outlines some factors that aided in this growth. Let’s get into it.
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How Popular Is Gambling in Canada?
Even though Canada is not among the world’s gambling capitals, the business still thrives here. The country’s authorities are pretty lenient and flexible in regulating this industry, thus allowing Canadians to participate in online gambling wholeheartedly.
The gambling market in Canada is getting a shakeup, and that’s good news for all those who love trying their luck in casinos to earn money. This country has completely embraced gambling with open arms and set a record in 2021 for having the most online gamblers.
The expansion of technological advancements makes online gambling a popular entertainment in Canada, with nearly 20 million locals involved in active gambling. This number put the country in the eighth spot globally in online gambling.
The increased popularity of gambling and casinos in Canada is responsible for providing 135,000 jobs nationwide, making the industry worth in excess of 15 billion.
If we dig more into the popularity of online casino games among Canadians, lotteries and raffle top the list. Slots are also one of the preferred options, enjoyed by locals to some extent. So, if you are feeling tempted and wish to try your luck, search for the best CA casino on thelostgamer.com, and enjoy an unforgettable experience.
Factors Contributing to the Growth of Canadian Online Casinos
The gambling and casino industry has grown enormously in Canada over the past decade. The country has made it a priority to ensure that its citizens can enjoy different online casino games without any hassle.
Here, we’ll analyze factors that aided Canadian online casinos’ growth.
The first and foremost factor contributing to the expansion of gambling and casino is Canada’s relaxed and flexible laws to regulate this market. The gambling laws in this country come in two categories: First Nations and Provincial Law.
These federal laws are designed to pass online gambling regulations to each respective provincial government. While some Canadian provinces are lenient toward online gambling, others may have restrictive laws.
Hence, players must understand the legal restrictions around gambling in their specific local areas before getting lured to this industry.
Attractive Bonuses and Promotions
Canadian casinos are widely acclaimed for offering attractive bonuses and promotions to keep gamers engaged for an extended period. These rewards are available in many forms and are open to new and existing players.
Popular options include welcome bonuses, loyalty rewards, no-deposit bonuses, etc. These offer extra funds to the player, thus allowing them to get a taste of online gambling without risking their well-earned cash.
Well-Regulated Gambling Market
Another factor thriving gambling and casino in Canada is the country’s well-regulated market. All online casinos in the country are well-monitored by regulating authorities.
Moreover, they must obtain a valid license to operate within the country’s borders, making them reliable and trustworthy to join. Online casinos in Canada ensure that all players enjoy a safe and secure gambling experience when playing on virtual platforms.
All Canadian provinces regulate their gambling activities, thus making sure that every casino operating within their borders is licensed and certified.
Multiple Banking Methods
Finally, online casinos in Canada pack a range of secure and reliable payment methods, thus ensuring safe deposit and withdrawal. Some popular options are credit/ debit cards, e-wallets, bank transfers, prepaid cards, and cryptocurrency payments.
These methods are renowned for their safe transactions, thus helping gamblers to fund their accounts quickly. These payment solutions identify threats and offer additional protection against fraud.
When investing in Canadian casinos, look for the eCOGRA stamp of approval, indicating that the online casino provides fair gaming opportunities and has passed strict testing.
While many countries struggle to make ends meet, the Canadian gambling industry is booming, with a market size of well over $12 billion. The diversity of the gambling market in this country has attracted plenty of offshore investors, that’s likely to increase Canada’s online casino revenue in the coming years.