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Canada’s Biggest Changes in Casino Online Gaming in 2021
The online gambling industry has seen drastic shifts from the outset of 2020 till now, the latter half of 2021. The integration of computer and internet technology had a huge impact on Canadian online gambling. And, despite the global COVID-19 pandemic causing an unprecedented degree of change in casinos, 2021 online gambling is predicted to reach a total industry value of as much as $516.03 billion by the end of 2021.
In this article, a gambling expert and gaming industry analyst Michelle Thomas overviews the prevailing trends you can expect to see from onwards.
As technology continues to develop, so does the gambling industry. To address emerging market trends, online gaming providers continuously apply the latest innovations to make their services available to as broad a slice of the market as possible.
So far, the most tangible change in casinos 2021 onwards is the shift towards online and mobile gaming. Pandemic restrictions have led to many physical casinos being forced to limit their capacity, if not shut their doors entirely. Casino operators that managed to weather these restrictions are left unable to predict when they will resume business again, leading many to innovate by moving to online gaming.
Had the global lockdowns occurred a decade ago, it’s unlikely online casinos would have seen as much of a boom as they are currently seeing. A big part of what’s enabled this trend is the almost universal adoption of personal computers and mobile devices, serving to expand the platform options of consumers. As of 2021, 82.4% of Canadians are smartphone users.
Other factors that have played into the rise of online casinos are the lower entry barriers for both consumers, and game developers and providers, in tandem with the flexibility offered by new financial innovations and payment options such as cryptocurrency.
The change in casinos to online gaming from increased internet accessibility and technological proliferation has made entry into the market much easier. A single search for online casinos will return over 50 million hits, and the number of online casinos is sure only to continue to increase as we move to the close of 2021 and beyond.
With so many online gambling platforms, it has become more vital now than ever that, as a consumer, you do your research and due diligence. After all, it is your money you’re trusting to these providers. You can find insightful and up-to-date Canadian-perspective reviews for top-rated online casinos and casino games at https://casinocanada.com/.
The flipside to a highly saturated online gaming market is the degree of pressure gaming operators feel from their competitors. Competition breeds innovation, and in a market as highly competitive as online casinos, players can expect to see a trend toward better offers, improved game designs, and even games with entirely novel mechanics.
As briefly mentioned above, cryptocurrency as a payment method brings several benefits when considered within the context of online casinos. The security of the blockchain means that casinos can feel secure in the validity of their transactions with players, and players can freely access and review their entire transaction history.
Using crypto for online gambling is similar to using fiat currency; players deposit their cryptocurrency to add funds or purchase “chips.” Depending on the casino, certain cryptocurrencies may or may not be accepted. As with exchanging fiat currency, you’ll need to convert your cryptocurrency to one the casino accepts in these situations.
When it comes to the most popular cryptocurrency payment options, the top 5 for you to consider are:
Bitcoin (BTC)
Bitcoin Cash (BCH)
Ethereum (ETH)
Litecoin (LTC)
Monero (XMR)
Online Casino Legalization Outside Canada
It’s illegal to operate an online casino in Canada without a license, and, as of 2021, the Canadian government doesn’t issue licenses to online casinos. This is bad news for Canadian casinos planning a shift to an online model.
Still, the legislation in place is significantly less restrictive for players – it’s entirely legal for Canadian players to play in online casinos. In much of the rest of the world, changes in casino legislation mean that Canadians can turn to online casinos based offshore in other countries like the UK.
The disruption of popular sporting events worldwide has led to a major decline in sports betting outcomes. In response, avid sports bettors have sought new forms of competition to place their bets. Esports has seen an explosion in popularity in Canada, which is significant even when compared to the steady growth the industry has seen for the past decade, and this newfound popularity shows no signs of waning.
The global COVID-19 pandemic has forced gambling providers to make numerous changes in casino business models, from a shift to online gambling to the widespread adoption of cryptocurrencies. More gambling is being done online now more than ever has been, forcing both providers and consumers to adapt. Finally, sports bettors have turned more and more to eSports as an alternative to halted sporting events.
