Gambling could be regarded as a key part of Canada’s cultural identity, given how popular a pastime it is. In absolute terms, the number of Canadians who enjoy a flutter is dwarfed by those in China or America, but in percentage terms, it is one of the world’s top five gambling hotspots, rubbing shoulders with Finland, Ireland, Australia, and Singapore.
Six in ten Canadians profess to have spent money on gambling in the previous four weeks. Admittedly, Singapore tops the list with seven in ten, but the stats bear out the myth that Canadians love to gamble.
The rise of crypto gambling
Some Canadians love to gamble more than others. One of Canada’s most famous citizens is Drake. While it is his musical output that has earned him his megastar status, his gambling habits have also hit the headlines over the years. One of the expectations for the Canadian iGaming industry in the year ahead is that there will be growth. If Drake has anything to do with it, much of that growth will come from crypto gambling. He has a deal tied up with cryptocurrency casino Stakes, and we can expect to see him staking fortunes on the platform.
The partnership is said to be worth $100 million annually, and it is one of the most lucrative deals in the gambling world. Drake will continue to host “Drake on Stake” events where he livestreams himself, placing massive bets and giving away crypto to winners. When we say ‘massive bets; Drake has been known to wager millions of dollars on roulette in a single session, although it is disputed whether this is Drake’s or Stake’s money being risked. Whatever, it has raised the platform’s profile enormously.
Ironically, the partnership seems to have turned Drake’s legendary gambling losses to his advantage. It has undoubtedly put high-stakes gambling on the agenda, with Drake positioning himself as an influencer at the forefront of this trend. The partnership has not been without criticism, with some people concerned that endorsing gambling can encourage risky behavior.
Encouraging safer play and bringing in revenue
With the Stake deal being criticized for being risky, lawmakers across the country are looking at ways to make gambling safer for Canadian citizens. Currently, the only province with a fully regulated commercial market is Ontario, but others are expected to follow suit.
The lawmakers have multiple reasons for wanting to create new gambling regulations in their jurisdiction. As we said at the opening of the article, gambling is a popular pastime in Canada. With ever-improving internet access and changing technology, more and more people are playing at Canadian online casinos. They enjoy all the fun of land-based venues from the comfort of their own homes.
In many instances, the only option for Canadians is to play on state-owned platforms or offshore casinos. iGamers are often critical of the restrictions of state-owned sites, which do not offer the variety or choices on offer at the big commercial operators. On the other hand, the lawmakers are aware that money staked is flowing out of their province, with no revenues inbound from operator taxes or license fees. There is also a concern about players accessing disreputable and scam offshore sites.
Is Alberta next?
With the Ontario model being heralded as a success, other provinces are introducing legislation to cash in on the market. Alberta had been hoping to have its regulated commercial gambling market up and running by Christmas 2024 but found itself getting tied up in its red-tape reduction. Things were not as simple as I had hoped.
However, it has introduced the necessary legislation and is consulting with various stakeholders to ensure that it gets things right when it launches. The situation in the province is complicated because it wants to shift players from offshore operators but cannot use the approach Ontario took, as it risks cannibalizing its platform. It also intends to bring First Nation operators onside and avoid the potential legal challenges that Ontario faces.
The gaming experience
iGamers can expect to see some exciting developments in the games they play this year. While online slots will remain in the ‘top slot’ in popularity and ease of engagement, live-dealer gaming increasingly captures the imagination of game developers and online casino platforms.
For years, we were promised that the future of gaming would be Virtual Reality, but the reality is that it has always remained niche. Live dealer online casinos deliver a real-time experience without the need for any additional equipment or peripheral devices. They have become so sophisticated that they can easily be played on your cell phone.
Unlike video simulations, these games are played in real-time against a human dealer and alongside other people playing on their devices. While it looks as though you have entered a casino, the gameplay takes place in live gaming studios. These are similar to television studios, and they are situated worldwide to ensure that play can take place 24 hours a day. The studios have strategically placed cameras to capture all the angles, and the cards dealt with and in play are read by OCR technology. Bets are placed in real-time, and the whole experience is a marvel of interactive entertainment.
The expectation is that this will become increasingly important as a form of entertainment. The online presenters are akin to a TV host who needs to connect to the players and keep them engaged. The computers do much of the work required of a land-based croupier. iGaming jobs are not just for people holding technical and computer science degrees!
What next?
The proverbial holy grail would be a technological solution that combines all of the favourite gaming elements, and people are trying to achieve live online slots. So far, no successful attempts have been made to merge the two genres. However, live game shows are on the rise. Everyone will have the chance to be the star of their own TV show without having to go through preselection or travel to a studio. Maybe anyone can answer The Who Wants to Be Millionaire questions as real-time contestants in the not-too-distant future.
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