The COVID-19 pandemic made many industries go into standby mode. However, the lockdowns were advantageous for online businesses, which saw a spike in customers that had no other alternative but to turn towards online platforms for their social, financial, and entertainment needs. Canadian casino sites were at the forefront of this new trend, offering a convenient substitute for land-based gambling venues.
Within 72 hours after the quarantine took effect, nearly 114 casinos across Canada got forced to cease operations, in addition to over 200 bingo halls. But while this segment of the gambling industry was facing a disaster with unseen long-term consequences, the online sector was a beneficiary of a new renaissance. After most players transitioned to top online casinos Canada for their gambling activities, many are not ready to abandon the convenience offered by iGamings sites.
The industry was already in an impressive growth stage, but the quarantine put it into overdrive. It’s crucial to note that top Canadian online casino sites also experienced an uptick of novice players at these testing times, seeking a way to alleviate the psychological burden of the lockdown and find a new form of entertainment during those stressful times. These factors created a new impetus for the growth of an already vibrant industry.
Canadian Online Casinos Surge in Popularity
Two years after the COVID -19 pandemic gripped the world, the new work-from-home culture spilled over to the gambling industry, where many players realized the benefits of playing from home rather than commuting to a land-based venue. This migration was not an isolated incident but a substantial wave, supported by the statistical data.
In recent research shows that about 64.5% of Canadians actively gamble at the best online casinos Canada, like the ones available in this source. What’s more interesting is that both genders are nearly equally represented. Canadian men account for 56% of players, while women make up 43% of the online gaming community.
Getting an exact number of new players after the pandemic started is difficult, considering most offshore iGaming sites accept players from Canada, but are not willing to share data. Yet, one sure indicator of the industry growth after the pandemic is the stats from the United Kingdom Gambling Commission, which oversees all legal platforms operating in the UK. Considering that top online casinos Canada also have a UKGC stamp of approval, it’s worth looking at the agency’s data. Its findings show a 25% rise in Canadian players over the previous two years.
Embracing the New Gambling Normal
Before the quarantine measures took hold, online gaming was not as relevant as it became after COVID-19. The new situation inspired even land-based casinos to embrace mobile applications to stay competitive in the industry’s changing climate. It didn’t take long for many experts, who thought brick-and-mortar casinos will never get overshadowed by a fancy online casino Canada, to retract their statements.
Yet, the new normal, a term coming into prominence during the pandemic, motivated authorities, and operators to embark on a new stage of the industry’s development cycle. Provincial governments started gearing up to legalize online gambling activity. Ontario assumed the mantle of leadership and made a serious push to regulate interactive gaming platforms, which previously functioned in a gray area. Offering gaming services to players from the province, which had no legal recourse in case of issues.
On April 4th, 2022, Ontario launched its online gambling market, ushering in a new era for operators, which lobbied for more regulations in the market. At last count, over 2,000 iGaming sites catered to Canadian players. This number tends to fluctuate, considering new online casinos Canada enter the market every week.
However, not all platforms provide the same reliable gaming offer, or function under a license. Legitimacy is high on the priority scale for most players. Canadians across the nation are searching for the best online casinos Canada has to offer.
The Future of Gambling Belongs to Online Casinos
It should not come as a surprise if March 2020 becomes a milestone in the history of the online gaming industry. Since that date, there has been an upward trajectory in the number of newly registered online casino accounts. From a demographic perspective, the majority of novice bettors are from the younger tech-savvy generations, which feel comfortable with technology.
The financial data supports the claims of an influx of new players. Revenue projections for licensed operators in Canada for 2022 are C$433 million. While the expected annual growth rate is 7.18%, indicating that online casinos in Canada are not only popular but flourished during turbulent times. Although vacancies made the pandemic manageable, allowing physical casinos to open their doors, the exposure to interactive gaming sites and the incentives they offer, such as promotions, motivate players to stay put and play from home.
Consolidation of a Competitive Gambling Landscape
The skyrocketing popularity of online betting is due to several factors: the increasing adaptation of smartphones as an everyday tool, the advancements in data transfer technology, and the erosion of the perception of gambling as a taboo. Yet, the pandemic boosted these factors and placed the gambling market on a fast track.
Canadians have always been more open-minded toward the activity, and gaming operators are eager to tap into that enthusiasm. Some assessments reveal that Canadians spend over 4 billion dollars on gambling offshore. Encouraging authorities to reconsider their long-held opposition to gambling and take a cut in the form of taxes. Something desperately needed after the economic fallout of the pandemic.
Although the commonly held belief is that online gaming performed excellently in the past two years, it has not had a smooth ride. But it’s impossible to ignore the upward trajectory. The online gambling market is fragmented, but there is an attempt by established reputable brands to consolidate their presence in Canada after legal frameworks sanctioned their operations. If one thing can get said with certainty about the industry, it is that Canadian online casinos have a bright future.
