Canada Online Casino Market for 2024 According to Statista

Highlights

• The market for online gambling is expected to bring in $4.19bn by 2024.
• With a compound annual growth rate (CAGR) of 6.39% from 2024 to 2029, the market is estimated to be worth US$5.71bn by 2029.
• It is expected that the Online Casinos market will be worth US$2.61bn in 2024.
• Compared to the rest of the world, the United States will bring in the most money ($24,980.00m in 2024).
• From now until 2024, the Online Gambling market is expected to bring in an average of US$154.40 per user.
• By 2029, there will be 33.9 million people in the market for online gambling.
• By 2024, 69.4% of people will have used online gambling sites.

Analyst Opinion

In Canada, the market for online gambling has grown a lot in the last few years.

One of the main reasons the Canadian online gaming market is growing is that people want things to be easier to get to and more convenient. People in Canada can now access online gaming sites from their homes or while they’re out and about thanks to advances in technology like smartphones and the internet. The ease of use is what has brought a lot of people to the online gaming market.

Trends in the Market

Another trend that has contributed to the growth of the online gambling market in Canada is the increasing popularity of sports betting. People in Canada have always loved sports, and now that they can bet on their favorite teams and players online, watching sports has become even more exciting. The approval of single-event sports betting in Canada has made this trend even stronger and given internet gaming companies more ways to make money.

Local Unique Circumstances

The growth of the online gambling market in Canada has been affected by both customer tastes and trends as well as some unique local circumstances. One of these is the rule-making atmosphere. In Canada, it is legal to gamble online, but each province has its own rules and license requirements. Because of this, the market is now broken up into many smaller ones that serve different areas. However, work is being done to make a more unified legal system to protect consumers and promote responsible gaming.

Major Macroeconomic Factors

Major macroeconomic factors also have an effect on the growth of the online gaming market in Canada. Canada has a pretty high spending income, which means that people can spend more on fun things like online gaming. The Canadian economy has also been pretty stable over the past few years, which has made people more confident and ready to spend money on things that aren’t necessary. In conclusion, the Canadian online gambling market is growing quickly.

This is because customers want easy access and ease, sports betting is becoming more popular, there are unique conditions in Canada, like the legal environment, and larger economic factors are also playing a role. Because the market is always changing, businesses will have to be able to react to new rules and changing customer tastes in order to keep growing.

Author (Head of Content)

Alec Martinez

2 Articles

Alec Martinez, the Head of Content at Rather Dashing Games, brings over a decade of experience in the online gambling industry. His journey at Rather Dashing Games began as a Content Writer in 2012, progressing to Senior Editor in 2018, before assuming his current role in 2022. Alec’s comprehensive knowledge of the iGaming landscape enables him to oversee the content strategy, ensuring all reviews, guides, and articles meet the highest standards of quality and relevance. His passion for the industry drives him to lead a team of writers and editors, creating engaging and informative content that empowers players to make informed decisions.

Verified by Head of Content: Alec Martinez