British Columbia recently granted approval for the gaming software supplier NetEnt to begin operating within Canadian borders. The Canadian online casino scene may change dramatically in the coming years as a result of this new policy. It’s no secret that the iGaming industry, as a whole, has needed a significant boost in Canada in recent years, and the Gaming Policy and Enforcement Branch (GPEB) is helping to ensure that there is a boost in the years ahead.
NetEnt basically satisfied the regulatory conditions that were set forth so that it can now offer services to the BCLC, or the British Columbia Lottery Corporation. NetEnt CEO, Per Ericksson, said recently, “I am very pleased that we have reached yet another important milestone in our expansion on regulated markets. We are the online casino supplier with the largest presence on regulated markets in terms of number of licenses and certifications that we hold, and entering the province of British Columbia in Canada is another important step for us.”
The Limitations for Online Gaming in Canada
Until most recently, the iGaming industry in Canada was lagging behind many other regions around the world, including in Europe and the United States. In British Columbia, there are approximately 4.6 million residents, and based on those numbers, a large percentage of them will be interested in online gaming experiences.
The industry as a whole, in Europe and throughout the United States, has been growing by leaps and bounds, especially in recent years. In fact, it is expected to generate twice the amount of revenue by 2020 as it did in all of 2016. There was an estimated $550 billion bet through online gaming in 2016, with approximately $1.1 trillion anticipated to be gambled by 2020.
The Canadian market can help to grow this industry even more.
This new deal, this new agreement, can effectively signal a new future for iGaming throughout Canada, exposing a number of businesses to hundreds of thousands and possibly even millions of new potential clients. Helping these new clients find the best online gaming experience is crucial, and that’s where TheCasinoDB can be highly effective.
Canada’s share of global gaming revenue.
While it may seem easy to simply assume this new deal is going to signify growth in the industry, it’s important to look to the recent past. Between 2010 and 2015, Canada’s revenue share for the gaming industry dropped from 4.9 per cent in 2010 to 3.4 per cent in 2015.
This doesn’t mean fewer people throughout Canada are interested in the iGaming experience, but rather the expansion of other significant markets, such as those in Asia and the online gaming boom throughout Europe. If Canada wants to remain at the forefront of the industrialized world, it certainly does need to take into account its own citizens’ desires for entertainment, including online gaming.
This new deal may not be enough to help Canada regain some of the revenue share that it may have lost in recent years due to lagging behind changes made throughout Europe and the United States with regard to online gaming, but it is a step in the right direction. As NetEnt brings a tremendous amount of experience and success in iGaming to the Canadian market, this should certainly open up new venues for future growth.
