Online gambling in Canada is looking to have a great year this 2022. 2021 was already a big banner year with over 20 million Canadians joining in on the online action. The result is billions of dollars in revenue. It is just a sign of how far things have come for online gambling in the Great White North. Here’s a look at the industry’s recent developments and a peek at its future.
The fast growth in the past few years has a lot to do with the development of online technology. Before, online gambling had a bad reputation of being low-quality and undependable. The current crop of gaming operations is a far cry from those old operators. Instead of staring at pixels on the screen, online gamblers now get to watch live dealers streamed from all over the world. They can also get the latest sports information live from games.
Technology enhances the enjoyment of playing these games by guaranteeing fairness, and there are two improvements to this situation. First, RNG technology ensures that results are actually random. After all, a lot of the hesitance about online games is that people are not sure whether it is fair. RNG technologies prove that the results are completely random and not influenced by the operator.
Another issue of playing online is security. Online play can mean exposure to hackers and data thieves. The implementation of SSL encryption and secure banking ensures that players will have fewer worries about their data. With firewalls and additional security precautions, online gambling is a lot safer for Canadian players.
Besides the technological development, the Canadian government gave a lot of support for the online gambling boom. Provincial governments actually launched their own sports betting platforms and online casinos. All this support culminated in a lot of legalization. Ontario is currently considering allowing international betting sites access to the local gambling population. If the province does allow it, then nearby provinces like Alberta and Quebec will soon follow.
Another potential boost to gambling would be the legalization of single-game sports wagers. Canadians won’t have to turn to US bookmakers to put down their bets when that law goes through. Provincial sports bookmakers are already offering it, but full legalization means that every Canadian will get a chance to wager.
Largely untapped market
Canada is a potential moneymaker for online gambling operators, who are likely happy with the developments. Estimates show that at least 75 percent of the population is participating in some form of gambling. This might be charitable gambling like the local charity lottery or something more profitable. Operators in the United States and abroad would be very happy to break into this untapped market.
Canada’s online gambling future is not set in stone. There might still be stumbling blocks along the way. However, the signs are pretty good that the gambling industry is looking at future growth. The only difference is whether it is slow growth or an explosive one.
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