The global iGaming market seems to continue its momentum with increased development. This is also the case for Canadian iGaming, especially in the last six months. The sector is strengthening its base of business partnerships every day and attracting more and more players. But what are the signs of the growing importance of iGaming in Canada?
What is iGaming in Canada?
iGaming includes all games that can be played online for money. This includes casino games such as online slots, betting, or bingo. The new casinos online offer over 3,400 slots and casino games such as Book of Dead or Riche Wildes, and also has a welcome offer of C$500 and 200 free spins.
The competition is fierce, and professionals in the industry need to have strong skills in web development, web marketing, content management, and customer service, which use the latest interactive solutions.
Coming from Anglo-Saxon countries, this market has gradually arrived in Canada, and has just celebrated its tenth anniversary in 2020. Along with the USA and the United Kingdom, Canada can be considered one of the pioneers in terms of regulation.
It is now a highly regulated sector since the National Gaming Authority (ANJ) replaced the National Online Gaming Regulatory Authority (ARJEL). With the ANJ, 78% of the market is regulated, compared to 11% under the ARJEL. The market also recorded C$50 billion in bets and C$11 billion in gross gaming revenue in 2020. It holds third place in the ranking of the largest gambling markets in the world.
Growth of Canadian iGaming
According to recent research figures, the Canadian iGaming universe has grown exponentially over the last six months, with revenues reaching C$405 million, 24.4% higher than in the second quarter of 2020. This growth has been sustained in particular by football betting and poker. According to the ANJ, if one compares the figures for this last quarter with those for the same time last year, one should observe a growth of +17%.
Many people have gone from being occasional players to regular players. And above all, a large number of regular players have stopped playing with physical operators and turned to iGaming, which now accounts for 2.7 million players and growth of +29% in one year.
One of the reasons why players are turning to iGaming is the industry’s ability to innovate quickly and regularly, releasing new online casino games and slots from well-known developers such as Microgaming and NetEnt. These games even include live blackjack or roulette games such as those offered by Evolution Gaming.
This innovation is reassuring and shows that a number of investors believe in the future of iGaming. Even if the Canadian iGaming market is only ten years old, it has been able to take advantage of the prodigious digital momentum of the year 2020. At such a speed, are we going to see adoption as lightning as one of social networks? Will the majority of Canadian people come to use it with the same frequency?