Future of the Canadian Online Betting Market

Over the last few years, Canadian gambling regulations have undergone dramatic changes. Before 2021, all types of betting were banned except specific provincially-approved choices. 

Even though private entities run casinos, the gambling authorities technically supply these services. However, Canadian gamers can enjoy online betting on offshore platforms that are accessible within Canada.  

Despite these restrictive betting laws, the Canadian online gaming industry is estimated to be worth more than $31 billion. It is the largest entertainment sector in Canada. 

In a few years, the annual revenue for the global betting business is projected to hit $180 billion. With Canada providing a substantial chunk of that revenue, the following trends will further boost the statistics. 

• The Emergence of a Regulated Gaming Market

Canada is preparing to enter the regulated gaming business by legalizing gambling and online sports betting. How will these new regulations benefit both the state and players? The authorities will increase their tax collection, and local gamers will be able to choose from a broader range of Canadian sports. 

Since online gaming was previously only available via a handful of offshore casinos and provincial government platforms, the new rules will significantly affect the online gaming industry. Time will help us determine how much the transformation will aid consumers and the state. 

Although it is happening at a glacial pace, governments and legislative entities understand the need for reform. It is in players’ best interests for the gaming sector to be as controlled as possible, even if some regulations may seem to restrict player choices. 

• Stricter Rules

Gambling regulations in Canada are less stringent than those in the United States. During the formative days of the internet, it was illegal to register and operate an online casino in Canada. The Criminal Code of Canada defines what constitutes a crime regarding all forms of gambling. Now, online betting exists in a vast gra     y area with no enforcement. 

The task of maintaining order is up to each territory or province. However, all provinces and territories have different regulations and gaming options. Some have online platforms approved by the authorities, while others do not. 

Offshore gaming sites are popular within Canada. The online betting brands at https://www.oddsshark.com/canada have attractive incentives and offers that you cannot find at local sportsbooks.

 Although the rules on online gambling are ambiguous, overseas platforms are theoretically unlawful. However, the system to prevent you from playing is not in place.

• Mobile Gaming

How important is the mobile device to the gambling sector? It is responsible for putting online gaming within reach of almost everyone. With most people currently using smartphones and tablets, it is no surprise that 86% of the Canadian population own a smartphone. It provides convenient access to an online gaming account regardless of where you are.

Data from 2020 indicates that online casino revenues grew by 24%, while the number of online casino players increased by 2%. These numbers grew in 2021, and the growth is likely to continue. You may have noticed that almost all online casinos now feature either a free gaming app or a website optimized for mobile devices. 

Also, mobile technology has led gambling establishments to prioritize providing the best possible user experience to Canadian players. For instance, an excellent interface will enable you to find good odds easily and place bets faster. Mobile platforms are working toward making online gaming safer than traditional casinos. 

Besides offering robust privacy policies ensuring transparency, several top online casino establishments have installed Secure Socket Layer (SSL) software to prevent the theft of sensitive information. 

• More Game Options Enhanced with Technology

As technology progresses, so does the range of games available for selection. In Canada, there are hundreds of mobile apps available for free. With plenty of software engineers, Canada is a high-tech nation with innovations emerging daily. 

Software providers have revamped several traditional games. Also, new technologies such as Virtual Reality (VR) are being incorporated into online gaming.

VR is a groundbreaking technology providing players with a profoundly engaging gaming experience. Although VR sets were primarily used by hi-tech individuals a few years ago, the gambling sector has changed drastically. 

Stakeholders in the betting industry are now investing in the formation of virtual reality online gaming platforms. It won’t be long until Canadian players can enjoy virtual reality gaming sessions from the comfort of their homes. 

• Improved Offers and Slot Games

Since a new online betting platform launches almost every day, players have diverse options. Why is this exciting news for gamers? To ensure that gamers have a great experience and remain loyal to the platform, betting operators in Canada offer lucrative bonuses. These bonuses will only improve in the future. One such bonus is the welcome bonuses providing new customers with cash to begin playing with. 

As gaming platforms attract younger players, the online gaming industry will feature slot games equipped with skill elements that are vertically improving. Younger players perform better at these games primarily due to playing video games with upgrades or other advancements.

 Most Canadian players seek engagement and entertainment. Online casinos are introducing upgraded slot machines to avoid players getting bored or losing interest.

• The Rise of Crypto Online Casinos

The popularity of crypto casinos is on a steady growth. More online gaming platforms now accept payment via cryptocurrencies such as Ethereum and Bitcoin. Betting sites will offer these and other payment modes while encouraging such transactions with many other lucrative incentives. 

Therefore, players in Canada using crypto will receive generous rewards with additional bonuses.

Some casinos have already turned into safe and effective solo crypto casinos. Because cryptocurrency promotes anonymous payment, the risk of data theft is eliminated. 

Also, blockchain technology enables instant payments, and transactions in cryptocurrency are quick since they don’t have to wait for approval from a central banking authority. 

Additionally, you can enjoy a better gaming experience and unmatched privacy since it is difficult to track crypto payments. This is especially true with privacy-oriented coins like Monero and ZCash.