The online gambling market in North America is on the upside. It has been for years, although legislative obstacles prevented it from blooming like it is in the moment. Mindless acts set up decades ago also prevented states in the USA from reaping the benefits of legalized online gambling, which turned out to be another Las Vegas once it was allowed to run.
Record profits and sky-high revenue year by year have made it an industry that can compete with the best. While it is lagging a bit behind its rivals, Canada’s just beginning its ascent. Things are much different in Canada when it comes to gambling legislation – online gambling was legalized for a while, but those licenses were mostly issued to tribal casinos.
The market has been ‘liberated’ in the past couple of years, with Ontario jumping on board as the latest province to legalize online gambling. It has instantly sent the number of great gaming sites in the country up. A reputable online casino in Canada isn’t that hard to find right now, with many US competitors jumping over the border.
Still a Lot to Grow
The iGaming market in Canada is in its infancy. It has a lot to grow to reach the numbers the US market has posted, mainly the gross revenue of nearly $200 billion in 2021. It’s supposed to grow up to $339 by 2027, which are numbers that can beat many industries. Continuous technological advancements are propelling the industry forward, with studios making enhanced games that improve the immersive experience.
In Canada, the industry has posted numbers over $30 billion in gross output and more than $14 billion in purchased services and goods. It’s a far cry from its US rivals, but still a respectable number that will grow for years to come. Ontario is the latest province to legalize it, and since the launch of this brand-new market, reputable providers have been flooding in.
One of them is DraftKings, a popular bookie and casino that didn’t miss the chance to jump over the border. While it isn’t live yet, it’s expected to launch in Q2 this year, following a string of rivals. The Boston-based bookie will bring its great online sports betting odds, daily fantasy contests, and casino gaming to the Ontario masses, heading to a new market that will certainly boost its value.
The company has reported an increase in revenue guidance for 2022, stepping over the $2 billion mark. That number was ‘collected’ from its US customers, but a similar output is expected in Ontario.
Better than Ever
The North American iGaming industry is more than alive and kicking. It’s better than ever thanks to the immersive sims and great betting odds. The number of sports markets is on the rise, and with that many metrics to take notice of and such a wealth of markets to bet on, the popularity of DraftKings and similar casino/bookie hybrids isn’t going down anytime soon.
Canada has a lot to go before it posts the revenue numbers of its US rivals, but it is on the right track. New technological developments are making the iGaming industry more profitable than ever. All new games are more immersive than their predecessors and way more fun. That’s precisely what players want and need, and as the industry develops, so will the numbers.
As the market opens up in other provinces (and it surely will), the floodgates will open. Canada is an excellent spot for iGaming records, and the competition with its US rivals will drive the industry to go supernova.
