But laws and regulations are evolving fast. More and more provinces are moving towards fully regulating the Canadian online casino market, which in itself is sure to push the industry into the stratosphere. Let’s take a closer look at how the industry is right now, and how it’s achieving further growth.
Evaluating the statistical details puts the situation firmly into perspective. In 2021, data showed that 70% of locals that participated in gambling did so online. This doesn’t mean that they exclusively engaged in iGaming, but it is an incredible indication of just how big the market is. It means that the Canadian online casino industry is amongst the 10 biggest in the world, which certainly isn’t something to be taken lightly.
More to the point, in 2019 gambling as a whole was valued at a staggering $14.72 billion. This number declined in 2020 due to the world health crisis, but in 2021 the number once again climbed. Importantly, however, it was iGaming that saw the biggest resurgence, showing a clear shift in trends. Although it is difficult to say for sure, in 2021 the Canadian online casino market is estimated to be worth around CA$30 billion a year.
The key to iGaming is that players need access to games to play them. Hence, the more players that have access to broadband internet, the more they will gamble online at sites like PlayOJO Canada. Canadians have been struggling with internet speeds for some time, but as of February 2020 the country ranked 25th in the world in terms of mobile gaming experience.
It isn’t surprising then that both the United States and Canadian online casino industries saw growth of 2% in 2020. The number doesn’t seem extensive, but it added around 24% to iGaming revenue. And this is just the beginning.