With online gambling slowly being adopted within the Canadian gambling market, further legislations by the Gambling Act and new bill have allowed new niches of sports betting to enter Canada legally. Despite the legislation and regulations coming in gradually, there is indication of a monumental shift within the Canadian market, when it comes to sports betting.
With the ease in restrictions on the gambling industry some great Canadian casinos have emerged in the market. Play Alberta is an upcoming Canadian casino that happens to offer exclusive promotions and lucrative sports gambling opportunities. Make sure to read the Play Alberta review to find out more details on one of Canada’s latest gems. While the Canadian market is clearly opening its doors to the gambling industry, here is what we predict to come, now that sports betting restrictions have been eased.
Changes to the Canadian Betting Landscape
The latest bill C-218, officially legalised gambling of a sports betting nature within Canada. This bill was highly important when it came to shaping the future of gambling within Canada and the landscape of the current gambling trends. This big leap forward invites more and more private industries to come into the market and participate in the growth of the Canadian gambling industry. However, despite the successful adoption, some provinces within Canada have not eased their restrictions towards sports betting. Despite this, Canada as a whole has still got to go a long way before horse betting and big races gets accepted, as this is a niche that is still currently off the market-for now.
It is important to acknowledge how much Canada has taken in terms of steps forward, when it comes to progress and the stance towards gambling. Especially the Canadian government, as it has also come to recognise the huge benefit that comes in terms of taxation revenue, due to the large popularity gambling has. Enforcing regulations and taxation around sports gambling and online casinos will ensure that the government can manage and maintain the huge surge of gambling traffic that will come from all over Canada. While the legislations have come in place, age limits and betting limits will be carefully adopted from sites operating legally within Canada, but of course the threat from offshore gambling sites still remains imminent.
How the Ontario market will unfold, still remains quite the intriguing watch. With the attitudes of previous capital markets, Ontario remains a ‘battleground’ where the market is still a unique story to be played and told. Nevertheless, there is certainly some smoke to come from the fire brewing in the Ontario casino market, that’s for sure.
The New Era
With the rise of blockchain technology, the metaverse and its influence on the gambling industry, word out on the gambling streets is that gambling will be expected to take it up a notch-even within Canada. Especially the concept of fantasy sports. This influence at the moment is particularly outsized, however experts of the market believe that this could potentially introduce long term success within the future of the betting landscape.
Things are still very much being figured out, especially now that the market is warming up to the idea of introducing NFTs within the sports betting industry. Being that Canada was very much left in the dark for so long where betting is concerned, many do believe that Canada will certainly fast catch up.
With sports betting in Canada now becoming a very often habit of Canadians, it is reported that 80% of Canadians participate in some form of sports betting. However, most interestingly, sports betting saw a greater surge from women in particular, meaning that women could push the demographics outside of the typical male stigma that gambling has had all over the world, leading up to now.
With so many developments and changes in gambling statistics, the certainty here is that Canada is only going to climb higher and higher on the gambling ladder of the world. It will all be a matter of time.