Online Gambling Sees Significant Rise in Popularity Among Gen-Z and Millennial Canadians
Online wagering has witnessed a remarkable surge in popularity among younger generations in Canada, particularly Gen-Z and Millennials.
Gen-Z, also known as the Zoomers, refers to individuals born between 1997 and 2012, currently ranging in age from approximately 11 to 26 years old. Millennials, or Generation Y, are those born between 1981 and 1996, now aged between 27 and 42 years old.
In this content we’ll introduce: online gambling sees significant rise in popularity among Gen-Z and Millennial Canadians.
Digital bettors come from tech-savvy generations
These tech-savvy generations, having grown up in an era of ubiquitous internet access and digital innovation, have embraced online gaming platforms as a convenient and engaging form of entertainment that can host games such as Bonbon Bonanza.
The rise of mobile devices and user-friendly apps has further fueled this trend, allowing Gen-Z and Millennial Canadians to access a wide array of staking options at their fingertips.
With their affinity for online experiences and a penchant for trying new and exciting activities, these younger people have become a driving force behind the growth of the online gambling industry in Canada.
Operators and regulators alike have taken note of this shift, adapting their offerings and policies to cater to the unique preferences and behaviors of these emerging consumer segments.
By 2023, Canada's online gambling market was valued at $3.96 billion, with forecasts suggesting it could reach $5.46 billion by 2028. The leading provinces in terms of betting revenue are Ontario, British Columbia, and Quebec.
Although gambling operates under provincial regulations, a growing number of influential online casinos and sports bookmaking sites operate from offshore locations, circumventing local laws.
This phenomenon represents a significant challenge in the gaming industry. Many popular gaming platforms are licensed in countries like the U.K., Ireland, Belgium, Denmark, Italy, Mexico, Spain, and Sweden. Consequently, Canada loses approximately $14 billion yearly to these international, unregulated wagering sites.
While these offshore platforms offer services without issue, disputes or problems with payouts pose challenges, with the Canadian Gambling Association (CGA) unable to intervene. In response, the Canadian Senate introduced two sports betting bills in June 2023: Bill S-268, enabling Indigenous First Nations to provide both retail and online sports wagering on their territories, and Bill S-269, which aims to create a nationwide framework for sports staking and advertising.
People engaging in sports betting don't see themselves as traditional bettors
Individuals engaging in sports wagering often don't see themselves as traditional bettors. These enthusiasts, who typically steer clear of casinos, prefer staking on sports they're deeply familiar with and passionate
However, whether one is wagering from the comfort of home via a smartphone or in the buzzing environment of a casino, the essence of staking remains unchanged. It activates the brain's reward mechanisms similarly to substances like drugs or alcohol, potentially leading to obsessive behaviors if not kept in check.
So, consider risking money as a mere form of entertainment rather than a financial strategy or a means to better your current situation. Achieving personal and financial growth is a journey that requires consistent effort, self-improvement, and prudent saving.
Should you notice an overpowering urge to bet, consider taking a complete break from all betting activities for at least three months. It's important to recognize that, for some, this can be an addiction, making it challenging to break free from these gaming behaviors once they've been established as a source of pleasure.
Should you or someone close to you be grappling with staking challenges, it's essential to pursue expert support. Effective treatments are available, especially important for younger individuals, as engaging in betting activities during teenage years can heighten the risk of developing persistent habits later on.
The bottom line
The appeal of online gambling has significantly risen among Generation Z and millennials in Canada, marking a shift from its previous association with the 45-and-over demographic. It's now common for teenagers, as young as 14 and 15, to engage in online activities.
With the legalization of online sports betting in Canada, high-profile sports figures, including the legendary Wayne Gretzky, have begun to endorse these platforms.
While the convenience and accessibility of digital platforms have undoubtedly contributed to this trend, it is crucial to address the potential risks associated with excessive wagering.
As the industry continues to grow, it is imperative that measures are taken to protect vulnerable populations, particularly the youth. This may involve implementing age verification systems, promoting responsible gaming practices, and providing resources for individuals struggling with addiction.
Moreover, the presence of offshore, unregulated gaming platforms poses significant challenges, as they operate outside of Canadian
Efforts should be made to collaborate with international bodies and establish robust regulations to ensure the safety and fairness of online gambling activities.
Ultimately, by fostering a culture of moderation and self-awareness, Gen-Z and Millennial Canadians can enjoy the thrill of online gaming while mitigating the risks associated with excessive or compulsive behavior.
