Online Casinos - Canada | Statista Market Forecast

Revenue in the Online Casinos market is projected to reach US$2.61bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.97%, resulting in a projected market volume of US$3.49bn by 2029.
In the Online Casinos market, the number of users is expected to amount to 15.7m users by 2029.
User penetration will be 35.6% in 2024 and is expected to hit 38.7% by 2029.
The average revenue per user (ARPU) is expected to amount to US$187.60.
In global comparison, most revenue will be generated United Kingdom (US$6.47bn in 2024).
With a projected rate of 35.6%, the user penetration in the Online Casinos market is highest Canada.

Definition:

The online casinos market refers to the segment of the online gambling industry that offers a range of traditional casino games, such as blackjack, roulette, baccarat, and slot machines, that can be played over the internet. Online casinos provide customers with the opportunity to play these games from the comfort of their own homes or on the go through various devices, including computers, tablets, and smartphones.

Additional Information

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of the product shares of the total online casino market. User and revenue figures represent B2C services.

Online slot machines such as Starburst, Mega Moolah, and Gonzo's Quest
Online card games such as poker, blackjack, baccarat, and their variants
Online roulette games such as European, American, and French roulette

Offline or land-based casino establishments such as casinos and gaming halls
Skill-based games such as chess, backgammon, and Go
Betting on non-casino games such as sports, politics, and entertainment.

The Online Casinos market in Canada has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Canada are increasingly turning to online casinos for their gambling needs, as they offer convenience, a wide variety of games, and the ability to play from the comfort of their own homes. Online casinos also provide a safe and secure environment for players, with advanced encryption technology and strict regulations in place to protect their personal and financial information. Additionally, the availability of mobile gaming platforms has made it even easier for customers to access online casinos on the go.

Trends in the market: One of the key trends in the online casinos market in Canada is the growing popularity of live dealer games. These games provide an immersive and interactive experience, allowing players to interact with real dealers and other players in real-time. This trend has been driven by advancements in technology, such as high-speed internet connections and high-quality streaming capabilities. Live dealer games have become a preferred choice for many players, as they combine the convenience of online gambling with the social aspect of traditional brick-and-mortar casinos. Another trend in the market is the increasing use of virtual reality (VR) and augmented reality (AR) technologies in online casinos. These technologies offer a more immersive and realistic gaming experience, with virtual environments and interactive elements. VR and AR technologies are still in the early stages of adoption in the online casinos market, but they have the potential to revolutionize the industry and attract a new generation of players.

Local special circumstances: Canada has a well-established gambling industry, with a number of land-based casinos operating across the country. However, the online casinos market in Canada has faced some challenges due to the strict regulations and licensing requirements imposed by the government. While online gambling is legal in Canada, each province has its own regulations and licensing process, which can be complex and time-consuming for operators. This has limited the number of online casinos available to Canadian players and created a more regulated and controlled market.

Underlying macroeconomic factors: The growth of the online casinos market in Canada can also be attributed to underlying macroeconomic factors, such as the increasing disposable income of Canadians and the growing popularity of online entertainment. As the economy continues to grow and more Canadians have disposable income, they are more likely to spend money on leisure activities, including online gambling. Additionally, the shift towards digital entertainment and the rise of online gaming platforms have contributed to the growth of the online casinos market in Canada. In conclusion, the Online Casinos market in Canada is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The convenience and variety offered by online casinos, along with the advancements in technology, have made them an attractive option for Canadian players. However, strict regulations and licensing requirements have created a more regulated and controlled market. As the economy continues to grow and more Canadians have disposable income, the online casinos market in Canada is expected to continue its upward trajectory.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services.

Modeling approach:

Market size is determined through a Top-Down approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

As an industry seemingly built on chance, the odds of the global casino sector growing in the coming years appear a safe bet. Thanks to the ongoing legalization of gambling-related activities in many parts of the world, licensed casinos have expanded to new markets and generated record-breaking revenue figures. While the market size of the casino and online gambling industry suffered heavily during the coronavirus (COVID-19) pandemic, falling by nearly 100 billion U.S. dollars in 2020, the recovery has been steady. As of 2024, the industry’s market size totaled over billion U.S. dollars. At the center of this growth has been leading casino companies such as MGM Resorts, which alone generated 16.16 billion U.S. dollars in revenue in 2023. Online enterprises specializing in sports betting have also carved out significant chunks of the market share, with Fanduel and DraftKings both ranking as two of the most valuable gambling brands globally in 2024.