The rise of the internet has opened up the door to a number of new industries. One of the most notable of these is the gambling industry, mainly in the form of online casinos and iGaming. Over the last three decades, technology has become an integral part of our lives, which has subsequently allowed the aforementioned industries to thrive.
Technology & A Changing Landscape
This article has been put together to look at the online casino and iGaming industry in Canada. So firstly, let’s take a look at how technology and, most significantly, the internet has impacted the lives of Canadians, thus opening up the door for the expansion of said industries.
Technology truly has become the driving force of the world and has transformed almost every major industry on its way. As a result of this, the way we educate our children has changed, the way we provide healthcare has changed, the manner in which we conduct business has changed, and most importantly, we, as people, have changed.
Between the year 2000 and today, the number of internet users in Canada has risen from 15.75 million to upwards of 34 million, with a staggering 87.4 percent of the population accessing the internet in 2020 alone. Furthermore, this percentage is projected to grow to 88.3% by the year 2025.
In addition, it is not just the amount of individuals accessing the internet that is increasing, with this year’s Internet Performance test data showing a 46% increase in the median average Canadian download speed, rising from 15.42 Mbps in 2019 to 22.58 Mbps in 2020.
It is clear that the internet is now an integral part of Canadians’ lives. While it is obvious how social media has changed how we socialise, it is also changing how we work. Thanks to technology, more and more people are choosing to work from home or on the go, with the number of smartphone users in Canada estimated to reach 31.38 million in 2020.
Simply put, technology, and the rise of the internet, has not only changed how people live their lives, but also what they demand from them. Digital natives expect to be able to design their daily timetables and decide when and how they spend their time. It is no longer viable to expect one factor, be it social or professional, to dictate where you have to be on a consistent basis. And when it comes to people’s free time, especially in terms of entertainment, people demand flexibility and autonomy…
If You Build It Online, They Will Login…
The online casino and iGaming industries are two that have more than taken advantage of the digital age. With more and more people expecting things on demand, the opportunity to partake in your favourite pastime online as opposed to going to a physical location has proved to be an offer too tempting to turn down. When it comes to online casinos and iGaming, Canada is among the global leaders, with its overall value hitting C$30 billion per year.
We have already examined how the rise of the internet has allowed these industries to rapidly grow and there are several other aspects that have resulted in in an estimated 76% of adult Canadians participating in some form of online gambling on a regular basis. So, in order to fully get to grips with this success story, let’s take a look at some of the additional factors that have created the perfect conditions for the online casino and iGaming industries to thrive in Canada…
Canadian Gambling Laws
The Canadian government has allowed each individual province to determine the legality of online gaming services, meaning they can decide for themselves whether or not they want to regulate online gambling, including online casinos and iGaming. In addition, the laws allow individuals to enjoy their favourite pastime via international websites if they so choose, provided that they are fully licensed and regulated.
When it comes to Canadian websites, they are mainly licensed by the United Kingdom Gambling Commission, the Malta Gaming Authority and the Kahnawake Gaming Commission. The government has been more than happy with the increased popularity online which, thanks to adequate taxation polices, have helped fund a number of governmental-initiated funds and social programs.
An Abundance of Choice
As online casinos and iGaming increased in popularity, the development of these sites in general, the potential gaming options as well as the devices and platforms they are available have all increased accordingly. Developers have answered the call for a variety of gaming options and there is now an incredible selection available online. For example, Wildz online casino in Canada offers a selection of slots, live tables, jackpot games, roulette, blackjack as well as a huge selection of iGaming options.
Improvement in Quality
In years gone by, one of the main complaints in relation to online casinos were that they don’t sufficiently recreate the atmosphere one would find on a real life casino floor. However, both the technological improvements and the options available, thanks in part to the aforementioned liberal regulations in Canada, have meant that Canadians have an abundance of choice when it comes to top of the line online casinos and iGaming.
What Does the Future Hold?
The rapid growth of the online casino and iGaming industries show no signs of slowing down and based on the ongoing developments within these sectors, all trends indicate that the Canadian gambling industry, including iGaming, will continue to grow.
This is a success story that will likely continue to succeed. Technology will continue advance, the internet will become even more prevalent and gameplay experience will keep improving and, in turn, the demand for online casinos and iGaming options will only increase.
Furthermore, as each new generation is born into the digital age, their preference of all things digital will only increase, creating more and more opportunities for the aforementioned industries to continue to expand and develop.