Why The Online Gaming Industry Is Booming In Canada
The online gaming and gambling industry is quite simply enormous. With billions and billions of dollars changing hands and huge swathes of people betting and gambling on any one day, it is impossible to see it any other way. In Canada, the industry still continues to grow, and with records profits predicted, it wouldn’t be a surprise to see the upward trend continue.
If the latest figures are to be believed, gambling is on the up in Canada as at least 76 percent of adults across the country are now involved in gambling in some way or other. This would equate to figures of just over 19 million people who now actively gamble. This growth is not isolated by any means, as the popularity of online casinos has continued to soar regardless of what is going on in the world. The latest data would suggest that the popularity of these online casino games has skyrocketed, with a 70 percent increase in the last twelve months. That is simply mind-boggling when you think about it, as with just a bit more help, the industry could double in size. Surprisingly, Canada is one of the biggest countries in the world when it comes to games, where they currently sit eighth in the latest rankings. Just this alone shows how quickly it has been growing and will continue to do so in the future.
How does it work?
There is a number of ways that Canadians can get involved in gambling and online gaming, and with online casinos constantly on the rise, they currently stand out as the primary focus when it comes to gaming in Canada. This isn’t to say that it is the only thing that is causing the growth, but it is important to start to understand that it definitely does have a huge bearing on the economy. Gambling activities generated a simply staggering $17.3 billion as recently as 2017, and whilst that doesn’t quite hold up against the hundreds of billions generated in the United States, it is still absolutely nothing to be sniffed at. In fact, with the continued growth of mobile casino canada, it is clear that online gambling is here to stay, and whichever way you choose to look at it, the juggernaut is just going to carry on and sweep aside everything in its path. The spending rises to $21 billion when you factor in offshore casinos, with Canadians believed to have spent at least $4 billion gambling outside of Canada. Again, although these figures aren’t huge on a global scale they are still impressive nonetheless.
It is fair to suggest that Canadians generate a reasonable amount economically when it comes to gambling and gaming and it is clear that the figures will just continue to rise. With the amounts already spent, they still have a long way to go to catch the likes of the United States and China, but even then, the industry and economy are both looking healthy, and that can only be a good thing if the upward trend continues and business continues to boom.