Land-Based Casinos Decline as Online Casino Growth Soars in Canada
The fact that online casinos seem to have increased in popularity at the expense of land-based casinos should come as no surprise
The world of gambling has come a long way in recent times, and over the last decade online gambling has become significantly more popular. The entire industry has evolved and moved to a digital platform, and it is clear that online casinos have changed the world of modern gambling. It is clear that the influence has been felt right across Canada as well.
Now, there has been a diverse casino market in Canada in recent times, both on and offline. Indeed, Great Canadian Gaming recently posted 2nd quarter results that showed further growth for the national gaming giants. However, the general consensus seems to be that land-based casinos are on the wane across the nation, and that online casinos have grown in popularity. Though the revenue of land-based casinos can often fluctuate so it is perhaps unfair to suggest they face a big decline. However, it is certainly true that online casino gaming in Canada has skyrocketed in the past ten years
It is clear that the gambling market in Canada is huge, especially with many provinces having their own mandates for gambling. There are loads of land-based casino all across the provinces that have proved to be hugely popular, with British Columbia seemingly leading the way. However, figures seem to suggest that more people are beginning to gravitate toward online casinos instead. In fact, Loto-Quebec saw a drop in revenue a few years ago, but in recent times profits seem to have climbed again.
The fact that online casinos seem to have increased in popularity at the expense of land-based casinos should come as no surprise. Looking at the way in which online shopping has taken over in recent times at the expense of the high street, this is something that seem to be a natural progression.
So what is it that has made this change so striking, and why have online casinos proven to be so popular in Canada of late? Well, there could be a lot of reasons that might play a role in this, and one of the main ones is the growing online slots market. Indeed, just this year we have seen a huge growth in the number of slot releases made by major providers, and this shows that there is a big market for them.
People also seem to be more inclined to trust their money with online casinos these days as well. This is perhaps to do with the fact that land-based casinos can feel somewhat intimidating at times. But also, provinces like B.C. have experienced a lot of issues in the past with money laundering in its casinos. This is not something a lot of people want to cross paths with, and something that is not an issue when they play online.
It seems that, despite a decline in revenue for land-based casinos, they don’t appear to be going anywhere any time soon. In fact, it appears more likely that the two different ends of the spectrum will co-exist together until such a time as gamblers decide they want their gaming fully digitised.