iGaming a huge part of Canadian economy
There is a lot of focus on the iGaming industry, and online casinos and gambling. That’s not really a surprise, as some industry experts have estimated that, by 2024, the total online gaming industry is expected to reach a whopping $94 billion in value. With the continued regulation and legalization of online gambling in the United States, Canada and the rest of the world, more and more developers and online casino operators are getting in on the action. And while Canada’s laws haven’t fully made legal all forms of online gambling in all parts of the country (such as the U.S. has done with sports betting), it is still a major industry throughout Canada. In fact, it is one of the largest segments of the Canadian entertainment industry as a whole.
What iGaming means to Canada
According to the Canadian Gaming Association, gaming is an enormous industry in the country, contributing immensely to the overall economy. Gaming is responsible for in excess of $15 billion in revenue per year.
Further, this means that gaming is the largest segment of the country’s entertainment industry. It generates close to $9 billion every year to help fund not only the government, but also services and community programs. And, finally, the gaming industry directly supports in excess of 135,000 full-time jobs across the country.
The CGA attributes this huge impact to the fact that rules and regulations are loosening across the world when it comes to legal gaming options. As such, companies in Canada are rushing to the market to try to supply what consumers are demanding.
Who is making waves in Canadian iGaming?
Some of the largest iGaming software providers and operators are based in the UK, but that doesn’t mean that Canada doesn’t have its own claim to fame in this arena.
In fact, there are more than 60 iGaming start-up companies developing throughout Canada, looking to carve out their slice of the pie. One of the tops is known as Old Skool Studios. Four of the company’s slot games are trending on an award-winning platform known as Quickfire.
Quickfire is a platform that is owned and managed by Microgaming, which is one of the largest iGaming developers in the world. They are based in the UK, and their claim to fame is they produced the first online casino in the world. They develop online games of their own, and they also allow other developers to run their games through a partnership.
If a company is to be accepted on the Quickfire platform, they must be up to snuff, as they say. Getting accepted is a huge deal, and that’s why it should be looked at as such as positive that Old Skool Studios is not only on the platform, but has multiple games trending.
It’s possible even more Canadian iGaming companies could find their way onto the platform soon, as more and more are popping up all around.
Where to go from here?
While Canada’s government still struggles with what should and should not be legal within its own borders, there is nothing stopping Canadian companies from developing games for the global market.
At the same time, it isn’t illegal for Canadian citizens to play at online casinos that are based in other countries. This connection makes it easy for iGaming developers to continue to make waves worldwide.
If you want to get in on the fun, check out one of the online casinos below.