How the Canadian gambling sector is doing in 2021
How the Canadian gambling sector is doing in 2021
It’s been a really interesting year in the world of online gambling. Globally the online gambling industry went through some ups and downs with many online casinos seeing a decline in new players and deposits at the start of the year. As the year progressed the industry began to see an increase in activity as the world begins to return to some sense of normalcy. Canada was no exception to this and also had a decrease however things have since picked up. So how is the online gambling industry in Canada doing today? Has the situation improved? Below we discuss the current status in Canada.
Prior to the start of the current pandemic caused by Covid-19 Canada was seeing growth year after year. The online casino industry continued to grow as online gambling became more and more socially accepted. Overall, in the last 2 years the Canadian gambling sector has seen a growth of around 70%.
Once the pandemic began
Initially when the pandemic began, and people were forced to stay home more and more people were looking for ways to pass the time and maybe make a little extra money at the same time. This led to a huge increase of around 35% for most online casinos around the world in deposits and new player signups. For the first 3-6 months many online casinos continued to see growth and increased activity. However, all good things must come to an end. Eventually many people stopped playing and deposits and new signups began to decline. This was attributed to the fact that people were losing their jobs or were being placed on unpaid leave. In short, times were uncertain and people needed to reel in their spending as nobody knew how long the pandemic would last.
The current situation
As time moved on and vaccines began to roll out across Canada the situation began to improve. Many people are heading back to work, and more and more places of business have reopened. Restaurants, bars and even land-based casinos can now accept anyone that has been vaccinated. People are now back to work and making steady income which has allowed them to spend on non-essential activities like gambling. Currently Canada is returning to what it used to be in terms of spending, playing and signing up to new online casinos and other gambling related sites. Even sports betting which probably took the biggest hit in the world of gambling has managed to bounce back.
In fact, more and more online casinos are creating new offers catered to Canadian players in order to attract new players. The fact that Canada does not have any specific laws prohibiting gambling or playing at online casinos means more international online casinos can target Canadians.
Where the market is heading
In 2021 the Canadian gambling market continues to grow and expand as more and more countries begin a return to normalcy. Besides the continued expansion online casinos are experiencing, the Canadian market is headed in new and exciting directions. These include the following:
Although virtual reality is nothing new especially in the world of computer and console gaming it has started to make its way into online gambling in the past few years. Today Canadian gamblers can find online casinos that offer a virtual reality experience. Virtual reality allows players to experience the casinos in a whole new way. Enjoy a virtual experience that allows you to walk around a digital online casino in 3D. Walk around the casino floor and play with players from around the world. As time goes on the technology will become more mainstream and more and more players will have access to virtual reality gear that will allow them to enjoy online gambling in a whole new way.
AI Powered Casinos
More and more online casinos have started incorporating AI into their sites which are able to assist with things like answering standard questions players may have. They can also manage various different business processes. In addition, AI powered systems can analyze user behaviour and playing patterns. This can help the casino offer players more content and games they prefer playing and can help online casinos generate more deposits. Artificial intelligence will allow online casinos to take online gambling to a whole new level while helping them cut costs and increase player engagement and generate more deposits.
Crypto Currency Deposits
It seems like only a few years ago crypto currency seemed like a fad or trend that was bound to disappear shortly after it was introduced. Not only is crypto currency still around today it’s stronger than ever. Besides being a good investment opportunity crypto currency is now becoming more widely accepted and can be used in some countries and places of business as legal tender. Some online casinos have joined in and begun offering deposits with crypto currency. Depositing with crypto has some advantages including helping users stay anonymous. In addition, deposits are processed in a matter of seconds whereas other forms of deposits can longer to approve. There are also no restrictions on where players can play as the money is not regulated by any banks which allows gamblers to access online casinos, they may have previously not been able to join and play at.
Every year new smartphones come out with the latest technology and specs which have also gone down in price making them more affordable to more people. This means most gamblers with phones that were released in the last few years should have no problem playing from their mobile devices. With better displays and faster processors, today’s mobile phones can handle anything including playing at your favourite online casino while on the go.
The world of online casinos and gambling has had a roller-coaster of a year with some ups and downs. However, now things seem to have stabilized as Canada begins to return to some sense of what life was like before the pandemic hit. We believe online casinos and the world of gambling will continue to expand and grow with more options and new features in the years to come. We can’t wait see what 2022 has in store for us.
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