Canadian Digital Gaming Industry
Sports betting is one of the most prosperous forms of entertainment in the world, including Canada. Canadians enjoy watching various sports events and making bets. From ice hockey to soccer and soccer, sports betting is one of the Canadian residents’ favorite recreational activities. 토토사이트
But so far, there have been numerous limitations to sports enthusiasts and betting. Most notably, the ban on single-round sports betting puts considerable pressure on athletes because they cannot bet outside of the fly.
However, that is likely to change soon. The House accepted a proposal for a new sports betting bill that would allow a single-round win.
Bill C-221, which we now know as the Sports Bet Bill, is vital to Canada’s reform of gambling laws.
Prior to the introduction of the bill, Canada’s sports betting regulations allowed only betting on various sports events, namely, play betting. Congress restricted betting activities to prevent corruption and protect the integrity of sports through criminal law. So, fly betting only exists in some provinces. Therefore, not all players have access to legal casinos.
Comparing the profits of illegal bookkeeping and regulatory sports betting groups in these regions, the difference is shocking. For example, illegal gambling earns $7.5 billion a year, while regulated sports organizations earn only $375 million a year. The new legislation will hopefully help narrow the gap between the two.
The U.S. initiative in sports betting activities is one of the catalysts for the new sports betting bill. In 2018, the United States pushed for a change in the legal framework referring to gambling. It benefited the entire American athlete because they got more space to enjoy betting activities. However, this serious change in a country’s laws undoubtedly affects neighboring countries. And in the case of the United States, legislative amendments to gambling regulations mostly affected Canada, the first neighbor.
But let’s take a step back. It all started two years ago. In 2018, the U.S. Supreme Court abolished the federal ban on gambling. Therefore, all U.S. states received more autonomy over gambling and law alone. This has affected the gambling industry around the world, and Canada is one of the affected countries.
The immediate consequences of the new regulation have been seen in several states in the United States. These states, including Michigan, have passed new sports betting laws. The Ontario Lottery Game Company (OLG) also owns several land and commercial casinos in the area. Considering that Detroit is quite close to Windsor, Ontario players can visit Michigan to play at the local OLG casino.
The mobility of players from Ontario to Michigan affects both players in Canada and the government. Losing a player means lower returns and lower returns, which are not exactly profitable. Therefore, by changing the rules and allowing players to make single bets, Canadian operators will protect their player base.
Profitability of Canadian Digital Games
Canada’s online and land-based casinos and bookkeeping dominate the global industry. As a big player in the game industry, Canada is an essential market for operators and providers around the world.
The country, one of the world’s top 10 economies, receives a lot of rewards from the digital game sector. According to the study, games brought more than $20 billion to the government in 2019 alone. Some experts predict that it will be able to increase the amount further by 2020 with an estimated revenue of $25 billion. And we’re only talking about regulated gambling.
So, Canada, which has already been very successful in regulating all forms of gambling, can do much more. But the question is, how?
There are several ways Canada can increase game revenue and increase player retention. One example is the newly proposed sports betting bill. The bill will undoubtedly increase players’ loyalty and encourage players to remain in Canadian casinos. Another way is to strengthen online casino permits and regulations. Currently, Canada’s online casino sector is thriving with hundreds of game sites that provide players with high-quality entertainment.