Canada and It's Online Gambling Market: 2022 Expectations & Projections

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Like its neighboring country, the United States, Canada’s online gambling markets are heading towards significant growth in 2022. In 2021, online gambling throughout Canada produced billions of dollars when more than twenty million citizens used online betting services. Naturally, a significant amount of the cash flow ended with offshore sites. A certain level of the industry’s success resulted from the global pandemic that caused us to focus on activities from home. 

The online gambling stratosphere in Canada has evolved during the previous decade, as local governments introduced online casinos and alternative sports wagering options. Despite these markets facing an array of newly established competitors, the overall sector is further evolving at a dramatic rate.    

Ontario, Canada, is less than a month away from allowing foreign betting sites to construct a business in their district. Ontario residents will choose from several online betting sites when this scenario comes to fruition. Aside from the obvious perks such as new customer bonuses, these introductory benefits are expected to generate a plethora of new customers. The business strategy underway in Ontario could become the blueprint for neighboring areas. If the projected success materializes, the likes of Alberta and Quebec will be eager to emulate the achievements. 

Everything is pointing towards Canada and its online gambling industry falling into another revenue burst in 2022. Again, with the microscope under Ontario, their estimated revenue of 2022 is exceeding a billion dollars. Gross revenue within the next five years is anticipated to generate just under two billion dollars, placing Ontario amongst the most prominent online gambling markets in North America alongside New Jersey, New York, Michigan, and Pennsylvania. 

April 4, 2022, is the official date for the launch of iGaming and online sports wagering in Ontario. With the introduction of single-game sports wagers, Canada’s markets are provided with equal opportunities to succeed. Bettors will no longer be given any option but to place bets with offshore bookmakers, as the legalization allows gamblers to place single wagers with a local sportsbook. 

Alternative components such as virtual reality and eSports should also be considered. These revolutionary aspects will recruit the next generation of gaming enthusiasts.

It’s not difficult to understand why Canada’s gambling industry is receiving such a positive end result. Markets over the globe have watched their revenues soar in recent years, and Canadian companies only have to look at the United States to understand the rapid success that’s involved in the gambling industry. With each sector owning its own unique novelties and consumer bases, the debut of online gambling will be positive for those involved, such as: 

• Online Casino’s
• Online Sports Betting 
• Online eSports Betting 
• Bingo 
• Lottery 
• Online Poker
• Horse Racing    

The corporations generating profit aren’t the only sectors that will benefit from Canada’s online gambling legalization. Taxable income in the billions will drive the Canadian economy in a great direction, and the gaming industry will additionally provide jobs in the thousands. 

How is the Online Casino Industry Growing So Quick? 

Canadians love to gamble, which creates a highly enticing market for operators worldwide. As a result, the top legal casinos in CA are receiving the most significantly rising user bases; why? Because licensed casinos provide a collaboration of perks that won’t be found in the underbelly previously utilized before legalization came to light. 

Incentives and bonuses are a true staple of successful casinos. Legalized online casinos in Canada are doing a great job of acquiring customers by delivering a boatload of generous sign-up bonuses for all types of gamblers. 

Perhaps it’s an obvious observation, but online casinos can only be reached with an internet connection. This is another reason why the popularity of online betting in Canada is growing so fast, as 90% of households have an internet connection. 

With the transition from 4G to 5G, the speed and power of mobile internet will further grow the online gambling industry as creations that require and demand the latest innovations will be more accessible. For example, live dealer casino games often need a strong connection for their real-time hosting.   

Canada’s gambling market has tried to focus on mobile-friendly content, and software developers strive to supply the needs of Canadian’s desire for ease of access. Mobile online casinos are becoming more and more popular due to their accessibility, making marketing services to customers a simple task. Like having an internet connection, most Canadians own a smartphone that’s able to connect to the internet, heightening the likelihood they’ll stumble across an online casino sooner or later. 

Canada has long been a sought-after country to live in, a significant number of people would love to move there. A good quality of life combined inside a liberal country goes hand in hand with a government that looks after its citizens. These factors produce a desirable state of living where you’ll find more people who don’t mind gambling and don’t mind losing money for the entertainment value involved. In addition, a happy country produces happy people, and making the correct choice when bankroll management is involved can make a difference. The bleak judgment towards gambling is also reduced, as most people aren’t finding it challenging to make a living. 

At the End of The Day 

Although the industry has already delivered positive results in other countries for various reasons, the overall business model is still frowned upon in Canada. Certain areas won’t feel comfortable allowing online gambling, even though some of these locations have brick-and-mortar casinos. 

The main concern is problem gambling and irresponsible spending. Still, the irony is that if customers spent less money, the industry would succeed at an even faster rate because the stigma behind online gambling is what’s damaged its growth thus far. 

Canada’s online gambling industry is slowly adopting different values, but Ontario will open the floodgates for surrounding provinces to get on board. It won’t happen overnight, but 2022 will make a significant impact on the Canadian online gambling industry as a whole.