Over the last few years, the Canadian iGaming market has experienced an exponential amount of growth. According to findings and studies to have been conducted, it is estimated that around 18.9 million people in the country have gambled online over the last 12 months, with $9 billion having been generated. Moreover, the market was thought to be valued at $12.54 billion in 2021, a figure that is estimated to grow further.

The lottery has been one of the most popular forms of gambling for residents to participate in, although many have used an online casino Canada platform to enjoy their favourite games on the internet as many like to play slots and bingo, with findings having found these are the most preferred types of electronic games.

Naturally, there are a number of reasons for the market’s growth in Canada, with some more obvious than others. Let’s take a look at how each of them is having an impact in 2023 and why they continue to have an impact on the industry’s increase.

Online Gaming Boom

Online gaming has always grown at a steady pace, but it is impossible to deny that the last few years have seen a huge increase in the number of players participating. The pandemic would have forced people to find new ways to help pass the time that they had to spend while in lockdown, and online gaming was ready to accept them. They allowed players to get as much enjoyment as possible, thus eliminating any potential boredom that could be experienced. They also offered a social aspect, as players could communicate with each other and get the interactions that they would have missed.

Mobile Gaming Increased

The rise of smartphones and tablets has had an impact on the iGaming industry, with individuals being provided with convenience and accessibility that they never had before. They can load their favourite games whenever they want and without the need to travel to a physical casino establishment. With some games providing an authentic casino experience, such as live dealer games, many are more than happy to play their favourite table games through a portable screen like a smartphone.

Legalization of Online Gaming

The Canadian government has been discussing the legislation of online gambling for years. Recently, Ontario launched its online gambling market, which could open doors to other provinces. The demand for new and innovative online gaming platforms is high, and there is a potential for many new players to enter the market. By legalizing online gambling, the industry can expand further, leading to significant growth and revenue in 2023.

Technological Advancements

The iGaming industry is constantly evolving with the latest technologies, such as virtual and augmented reality, artificial intelligence, and blockchain. With technological advancement accelerating at lightning speed, we can expect to see newer and more engaging games emerging in 2023. These innovations are expected to drive the growth of the industry by offering players a more immersive and seamless gaming experience.

Final Thoughts

The Canadian iGaming market is growing at a rapid pace, and in 2023, we can expect to see significant growth in the industry. With so much more still possible to experience and achieve, though, do not expect the sector to slow down anytime soon.