By Alexander Raev
March 15th, 2023
BURLINGTON, ON
Chad Beynon, a senior employee at Macquire Group, the Canadian sports betting market alone is estimated to be worth USD 2.2 billion by 2030.
This anticipation rides on the fact that Canada has legalized gambling sports after the Safe and Regulated Sports Betting Act has been passed. As a quid pro quo, huge markets for sports betting have opened up, triggering speculation among all.
With the betting sites online you can relax, try a few games and see how you do.
After Law Bill C-218 has been signed this year, single-sporting betting events in Canada is legalized. The legislation is all set for Canadian provinces to integrate locally. Ontario, being the largest Canadian province, is expected to be the first one to open a market that is anticipated to be double the size of its contenders.
Market experts also anticipate that the online Gaming sector will reap billions, considering the complete legalization of the market and expecting Canadians to spend $60 for sports betting and $75 on online casino games.
As per market experts, the Canadian gaming market, especially the online casino games, has huge potential that ranges in billions.
Online Casino Games Booming Canada’s Gambling Market
There can be several reasons why Canada’s gaming market is growing at an exponential rate, and online casino games are steering the wheel for it.
It is a concrete fact that Canadians love to play online games. From casino games to sports betting, they love it all. Games that promise fun and rewards work for Canadians predominantly. With recent revolutions in mobile gaming, the affinity for online casino games among Canadians has manifold.
Online gaming websites host mobile gaming apps. People generally download these apps on their particular devices and then relish playing these games anytime they want. This facility has shot up the reputation of online gaming in Canada. At present, there are numerous gaming portals in Canada, offering a plethora of games. Regardless of the variety available, casino games top the chart among all-time favourite games for Canadians.
Furthermore, the bonuses provided by online casinos also play a vital role for the uprising trend of online gambling in Canada. Some sites reward their new players with a free welcome bonus. Such a bonus often comprises free spins and free cash. Often on the first deposit, some sites provide free bonuses too.
Predictions for Canada’s Gambling Sector
As per market experts, the Canadian gaming industry is anticipated to undergo exponential growth in the next few years.
Quite recently, Canada has been sanctioned the Safe and Regulated Sports Betting Act. This is a game-changer, not only for betting operators but for casino owners too.
As per Forbes forecast in late 2020, the gaming sector might exceed USD 200 billion by the end of 2023, and online gambling is anticipated to play a huge role in it. In Canada, these numbers could reach the USD 4.6 billion mark by 2030. All these reports clearly solidify the fact that the gambling sector of Canada is poised to experience significant growth. In other words, the future of Canada’s gambling markets looks bring and promising.
On account of the recent Law Bill C-218, significant attention has been roped into the Canadian gambling market. This new rule is expected to have a great impact on online and offline gamblers along with the casinos.
It is an undeniable fact that a significant part of the credit for the boost of the gambling sector should go to the online casinos. Before Covid-19, online casinos started gaining popularity, and during the lockdown phase, being trapped behind doors, have worked in great favour of online casinos and gambling on the internet.
Online Gambling is the “Next Big Thing” in the Canadian Gambling sector
It is not wrong to quote that the online gambling market in Canada is soaring high big time. It comes as a practical truth that online casinos are highly appreciated amongst the population in Canada and worldwide too.
People bet on the game while watching the game
These games entertain people and often make them extremely emotional towards it. These online gambling games are the perfect blend of anxiety-driven, fun, and excitement. Furthermore, these games are very good and trigger people to play quite more and use their luck for other different games.
One of the biggest credible facts about the gambling market of Canada is that it is the 8th largest gambling market across the globe. Hence, Canadians feel extremely confident when it comes to placing bets in the biggest gambling market across the globe.
Experts quote that the sudden spike in internet gambling, almost by 77% according to some estimates, could be because of the lockdown. Hence, online casinos are anticipated to emerge as a dominant form of gambling in Canada in the near future.
Surely, the offline casino and gambling industry has taken a hit due to the pandemic, the online casino games are now interpreted as the only compensation. If the online casinos keep functioning as they have been, it is quite possible that they may witness double the number of footfalls in comparison to the land-based casinos.
All in all, the trends for online gambling in Canada and across seem very promising. As per predictions, this form of gambling will grow exponentially shortly.
