Biggest Challenges of Casino Market in Canada 2022

One of the industries with the quickest growth rates in Canada is online gaming. Canada is ranked seventh among the countries that spend the most money gaming online.  Additionally, in 2021, more than 20 million Canadians used online gambling services, and a lot of them manage to win jackpots. But how will the Canadian online gambling market look in 2022? Tune in if you want to find out what are some of the biggest challenges this industry faces!

Demographics

Before we dive into the biggest challenges for the Canadian gambling market, we should take a look at some important statistics.

As expected, the largest portion of online gamblers is made up of men. Moreover, it’s estimated that 56% of all gambling in Canada is by men, while women make up 43% of all players. However, women are more likely to use a mobile device while gaming than men are, so around 55% of all mobile players are women, while men make up 45%.

When it comes to the age of the player, most customers at gambling sites are between the age of 30 and 50. Nonetheless, there’s a large number of young adults that enjoy playing at Interac casinos for a good gaming session. The most popular games with 18-30 year-olds are, of course, slot games. However, older adults prefer slower games that they’re familiar with such as bingo, poker, and baccarat.

Worth

As mentioned before, the online gambling industry is huge in Canada. Last year, it was responsible for nearly $1.3 billion in revenue, and nearly overtook the brick-and-mortar casino industry. It’s believed that the revenue generated would be a good deal greater if it wasn’t for certain gambling regulations. Although these regulations are a good thing, they prevent smaller companies from getting onto the market. Because every online gambling operator must be granted a provincial license, revenue loss is increased. 

Additionally, because of the small number of online casinos in Canada, there are numerous offshore sites that use this to their advantage. Experts believe that if Canadian gambling laws more resembled UK’s, the gambling revenue would increase from nearly $2.7 billion to as much as $4 billion.

What Gambling Trends to Expect in 2022

There are many different factors that contributed to the rise of online gambling in Canada. The pandemic, growth of mobile gaming, and more accessible internet are all part of the reason. Here are some things we can expect in 2022.

More Crypto Casinos

Ever since they first started operating, crypto casinos have been gaining in popularity. There are countless operators that allow their customers to play with Bitcoin, Litecoin, and other digital currencies. What makes them so attractive to fans is the safety they provide. When you’re making a payment in crypto, you can rest assured that your private details are safe and that the transaction will be secure. 

Because they use blockchain technology, they are impossible to crack and don’t require a bank as the middle-man. Furthermore, the payments are instant, so you can enjoy a quick and dependable payment option. 

Expect Changes in Marketing 

In 2022, there will be a change in the way Canadian online casinos are allowed to self-promote. There will be a major shift towards problem gambling as new laws are voted in. Users will now be able to choose which promotions and bonuses they want to take part in and exclude themselves from them if they want to. 

Esports Will Take Over

Many online gambling experts predict that esports betting will see huge growth in 2022. Although they are a relatively new sport to bet on, esports have amassed a huge following in recent years. The most popular games to bet on include games like League of Legends, Dota 2, CS:GO, and many more. These games have millions of daily players and all of them are potential customers for esports casinos.

Conclusion

Canada continues to rank among the nations that generate the highest amounts of revenue from gaming. Moreover, if the industry in Canada does undergo any changes, they will be for the better rather than for the worse.