Analyzing the Number of Casino Players and Its Payment Methods in Canada
Online gambling is growing in popularity year after year. The reason for this lies in the fact that more countries are legalizing online gambling. Additionally, more people are going online because it’s the easiest way to have fun gambling. The same trend applies to Canada, where millions of players play online casino games on a daily basis. They attract more players with unique features. For instance, players can also enjoy an instant withdrawal casino in any place around the world. It eliminates the hassle of lengthy processing times and provides a more convenient gambling experience. It is important to note that outside of Ontario, the provinces in Canada do not have specific regulations for online gambling, allowing players to legally participate in offshore casinos.
The fact that they can play anywhere means that Canadians have thousands of options. They can use the latest online gambling platforms with top-notch features. That’s why players like using Apple Pay casino, as it makes it easy to pay and withdraw any potential winnings.
Since gambling is so popular in Canada, we’re going to go over some statistics regarding gambling in Canada. Without further ado, let’s get started.
Analyzing the Number of Casino Players in Canada
The number of casino players is steadily increasing, and that’s no surprise. After a mild decrease in 2020 and 2021, the market stabilized, and the gambling industry in Canada keeps growing. It’s safe to assume that this is going to continue, especially when you consider that the whole market is yet to be regulated. Here’s how many players there currently are in Canada.
Data on the Number of Casino Players in Canada
As per a study released in 2022, the overall number of Canadians who gamble is 18.9 million people. That translates to sixty-four percent of all Canadian citizens. They have reported playing during the previous year, which is an extremely high number of players. It shows that this type of entertainment is one of the most popular ways to unwind and have fun with friends. These statistics put Canada in 8th place in terms of the number of active players who like playing casino games.
Factors Influencing the Number of Players
There are multiple factors that influence the number of players. The most important ones are:
- Age restrictions – Age limits directly impact the number of players. The higher the age restriction is, the lower the number of players is going to be.
- Market regulations – If the market is regulated, there’s a higher chance that people will play. They’ll know their rights and believe more in the industry as a whole, leading to more people signing up on online platforms.
- Safety regulations – Safety means to trust in the digital world. Regulated markets impose safety regulations, making sure that all players are in a safe place. Again, increased trust means more players on online gambling platforms.
Comparison of Player Demographics
When it comes to player demographics, as per the abovementioned study, those who were more likely to gamble were non-immigrants. 69.7% reported enjoying online casino gaming, whereas immigrants were only 51.9%. That’s a big difference. Another fun fact is that low-income households are less likely to gamble.
When it comes to gender, luck-based gaming is dominated by male players. However, not by a drastic margin. 56% percent are men, whereas 44% are women. The landscape changes on mobile, where 55% are female players who enjoy playing casino games compared to 45% of their male counterparts.
Last but not least, in terms of age, the majority of players are between the ages of 30 and 50. That’s similar to the global standards, and it also applies to the retail casino industry. The best casinos in Queensland have visitors that are in the same age gap.
Payment Methods in the Canadian Casino Market
Canadians have an abundance of casino payment methods before them. Let’s have a look at the most popular ones used.
Popular payment methods used by casino players in Canada
These are the most popular online casino payment methods that players in Canada use:
- Wire transfer
- Apple Pay
- Google Pay
Overview of traditional payment methods
Traditional payment methods from the list above include Visa, Mastercard, Wire transfer and Instadebit. These are very trusted payment methods but require some processing times. They are still widely used because the majority of people have Visa and Mastercard. So they’re very convenient and have low fees.
Rise of digital payment options
On the other hand, digital payment options have grown in popularity due to their practicality. This specifically applies to e-wallets such as PayPal, Neteller and even Apple and Google Pay. Transactions are much quicker, and these payment methods are significantly more secure. The culprit can’t access private data like your card number and its CCV.
The latest change comes in the form of cryptocurrencies, but this casino payment method is still not as popular as the abovementioned methods.
Factors Influencing Payment Method Preferences
There’s a wide range of factors influencing casino payment method preferences. The most important ones are security, speed, and fees. All players want a safe way of transferring their funds quickly with a low fee. Currently, the players can only get only two of these three things. However, cryptocurrencies are challenging, as they provide all three factors. Once they become user-friendly enough, they’ll lead the way.
Gaming is having a great impact on society in different ways. As such, it’s safe to assume that it’s here to stay in all its forms. Whether it’s gambling games, online MMOs, or competitive arenas, they will remain a popular form of entertainment. As technology keeps progressing, we’ll see how it keeps evolving, especially as new payment methods emerge and conquer the market.