Over the last few years, the gambling market has undergone a tremendous growth rate across the globe. Its growth was especially evident within the borders of Canada. Many changes happened in the market which catalyzed growth in the gambling market in Canada. But before we talk about those changes, let’s take a look at the history of online casinos.
History of Online Casinos in Canada
While many may not know, the first online casinos emerged in the 1990s. Yes, online casinos are ancient technologies apparently. Online casinos have been operating in Canada since the 1990s, after the first emergence of online casinos in 1994. But back then, nothing much could be said about these online platforms as the graphics seemed quite poor, and internet speed wasn’t all that great either. To play online casino games back then, you’ll need to exercise lots of patience. People quickly lost interest in it. As the years pass by, changes began to happen. The graphics improved and the internet also picked up the pace as technology advanced, and online casinos like casinoscout.ca started increasing in numbers. Slowly, people started showing interest, once more, in these online platforms as it continues to grow and evolve over the years. Let’s talk about the changes that have happened with gambling and online casinos in Canada.
More Land-Based Casinos In Canada
Canadians have a long history with gambling and this is quite evident in the number of physical casinos that have been established across the country. All casinos operating in the country are all licensed by the government, except the online casinos. However, Canadians are still allowed to gamble online as the government in Canada only prohibits Canadian casinos from operating online gambling sites. So Canadians are allowed to gamble at offshore gambling platforms.
This regulation made some people believe that online casinos are illegal in Canada. But it’s not. Each provincial territory in Canada has its official online gambling platforms for its residents to do whatever they wish. But despite this, the physical casinos still count higher than the online gambling platforms in the country. However, this will change in the future as the Ontario government launched its first new open market for gambling that allows offshore gambling platforms operates within its territory.
Access to a Variety of Online Casinos
As the Canucks are allowed to gamble freely on offshore platforms, they have access to several varieties of online casinos. There are hundreds of casinos competing for the audience in the market, so the competition is quite fierce in the gambling world. Reputable online gambling platforms rose to the top by giving some of the best offers to players in the gambling world. Here are a few of them.
Improved Betting Rates
In an industry where the competition is extremely fierce with one organization seeking to gain an advantage over its peers to gain more clients, several strategies have been introduced to the market. One of these strategies is by offering better and improved betting rates than competitors. It is one of the best ways to attract more clients to your platform. In almost every online casino, welcome-back bonuses will be given to returning clients and lower betting rates for the other clients. While these features might seem to be little, they usually go a long way to ensure the loyalties of clients to the platform. But it didn’t stop at just welcome back bonuses, there are other kinds like welcome bonus, no deposit bonus, match deposit bonus, loyalties, promotions and many more.
Reduced Withdrawal Time
In the past, it would have taken several days to complete a transaction for online casinos. So, reduced withdrawal time is one of the many changes that have happened to online casinos in Canada, as nowadays, you can easily withdraw from your casino account and get it into your bank account in a matter of minutes. Many online casinos have improved their withdrawal rate to soothe their clients and also to boast about it to attract more clients as most gamblers will prefer a platform that will give them their winnings as soon as they withdraw.
Variety Of Games
Online casinos that were launched in the 90s were limited in so many ways, and this included the number of games. Back then, the only games that were accessible on online casino platforms were blackjack games. As time went by, new online games started popping up in online casinos. Now, there are as numerous as the fishes in the ocean. Well, not that much but online casino games are numbered thousands across the globe. Plus, each online casinos usually have hundreds of them that will keep you engaged for a long time. Live casino games have also been popping up along the way, and they’ve been slowly gaining popularity over the years.
Fewer Restrictions
Previously, online gambling sites can only be accessed by users from their country of origin. That’s not the case anymore, if it were, Canadians will have no access to online casinos. Now, however, the Canucks can indulge in casino games from USA, UK, or anywhere around the globe. Canadians are popular online gamblers.
The Future of Online Gambling in Canada
Although there are rules regulating online gambling in Canada, these rules have slowly been relaxed over the years. The gambling industry in Canada generates quite a huge amount of revenue for the government, but ever since the pandemic, this revenue which was mostly generated from the physical casinos dropped drastically. And with many Canadians turning to online gambling platforms during the pandemic, these platforms became the new revenue generator for the government. So, it was a no-brainer to see the laws regulating online gambling relaxed in Canada.
Legalizing online gambling in the country will give the government the ability to monitor the industry on a larger scale, and they will be able to take note of the revenue that comes from it easily.
In April 2024, the Ontario government officially launched its legal and regulated online gambling market after three years of strategising. In this way, the government will be able to license and regulate all online gambling platforms seeking to operate within the province. Before its launch in April, several reputable gambling platforms like PointsBet, 888, FanDuel, Bet365, Rivalry and many more, secured gambling licenses from the Ontario government. Due to this new opening, Ontario is expected to generate around $800 million in gross revenue by the end of 2024.
However, this leap has only been taken by the Ontario province. The other province in Canada hasn’t made any stance on this, as they seem to be watching the process with the Ontario government before deciding on their end.
Despite this, you can already tell that online gambling has a bright future in Canada. The evolution of technology will also play a huge role in ensuring its success in Canada. The shift from physical casinos to online casinos seems to be inevitable in this new decade. While we might be seeing less of brick-and-mortar casinos in Canada, we will definitely be seeing more online casinos within its borders.