Canada’s economy evolves with advancements in technology. Over the last few decades, the Canadian economy transitioned from a system built upon manufacturing into a structure based upon the service sector, and the technology that continuously evolves within that sector.
One of the sectors that evolved over time is the gambling industry, which was reportedly worth over $13 billion to the Canadian economy in 2010. The industry evolved with technology over the years from a traditionally land-based sector to include a thriving online betting industry. The growth of the industry made gambling socially acceptable across most of Canada, and increased the sector’s importance to the strength of the economy. There are many industry insights that visualize and explain the growth of the gambling sector, and how the practice became one of the most fundamental strengths of Canada’s economic performance.
Online gambling began in Canada as a digital lottery game that grew across the country. As gambling firms developed digital applications for other classic casino games, the industry legally regulated these newly developed games as well. Similarly to traditional casinos, the federal government collected gambling taxes from all bets made within the online gaming centres. As a result, the economy benefitted from online gambling activity.
The industry revolutionized itself once again when smartphones and tablets were introduced, and incorporated the aptly named mobile gambling market into the overall gambling sector. The majority of Canadians own at least one smartphone or tablet, and the networks on these devices allow players to access their online casino accounts while on the go. The incorporation of mobile gambling improved the convenience for players to place their bets, which fits the growth of a service based economy built upon convenience for the consumer.
According to industry insiders, Canada’s online gambling sector will continue to grow over the next few years as more provinces establish their own regulated online casinos. Continuous advancements in technology will expectedly make the experience for the end user more convenient, and therefore continue to add billions of dollars back into the Canadian economy.
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Guest Author Bio
Gary Parkinson
A young and creative writer, Gary is a very opinionated person who is not afraid to speak his mind. He uses writing to express his thoughts, and feels attached to his work. Gary believes that an article or a post is both an expression of the writer’s beliefs, but it should also challenge the reader to develop an opinion of their own. As a result, Gary expresses his own opinion within his writing, while leaving room for readers to agree or disagree with thoughts of their own.
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