Online gambling is an industry that is still emerging in Canada. Although it has been present across the globe for over 20 years, it took almost as long for local authorities to recognize it. Such an approach created a unique landscape for the Canada-based casino community. In this article, we will tackle some of the biggest challenges the Canadian market will face in years to come.
The Provinces Paradox
Canada has ten provinces and three territories, and compared to most other states in the world, it is as big as it gets. Although dividing the territory into provinces makes it easier to run the country daily, it is causing difficulties in regulating online gambling.
Some provinces, like Ontario, have regulated the market and provided licences to operators that meet the criteria. Others haven’t recognized it, as they rely on the gambling laws already in place. At the same time, the growing interest in iGaming is indisputable, as thousands of Canadians sign up with the newest available casinos to try out the modern iGaming offering and utilise the latest bonus deals.
With plenty of newcomer players entering the iGaming landscape, the level of competition grows, so factors such as the variety of games and promotions, the fairness of outcomes and payouts and the presence of knowledgeable support and responsible gaming tools come increasingly into play.
New Opportunities for the Canadian Market
The fact some provinces don’t know what to do with iGaming operators doesn’t prevent gamblers from enjoying their games. Until the authorities figure things out, this leaves room for reputable offshore brands to take the lead, gain a following, and carefully keep an eye on eventual licensing possibilities.
The same goes for brands already operating in provinces where this type of entertainment is legal. More and more often, they act as advocates for safe and responsible gaming and use their negotiating power to help expand the legal market.
Taxation of the iGaming industry can be a great source of financing education, arts, and other causes that tend to be neglected or underfunded. It is a financial injection that is impossible to ignore.
Strategies for the Future
When it comes to strategies, there is no universal method that can be applied to every market. Canadian authorities must look for inspiration in countries that have already successfully regulated online gambling. Still, they should be aware of all the pros and cons of applying certain principles and regulations.
For instance, if a province is overly restrictive to online casinos and is surrounded by provinces that allow them, the authorities must be aware of the fact their population might take their gaming sessions across the border. Additionally, they must understand that excessive regulation forces players to turn to poorly optimized operators and increase the potential risk exposure.
Introducing new brands is only half of the job done. Canadian authorities must also create a safety net that will help gamblers who have gone overboard with their playing habits and raise awareness by educating players of all generations.
