Home Sports/Games Modernisation of the Gambling Industry in Canada: 2023 Updates

Modernisation of the Gambling Industry in Canada: 2023 Updates


The gambling industry has gone through quite a few changes, which is obvious once we compare it to the days of land-based casinos. While you had to make a trip to your nearest casino that could have been cities away just to take a few spins on the slot machine a few years ago, nowadays, you get to access any casino game that you want – as long as you have a smartphone and a stable Internet connection. And the modernization of the gambling industry in Canada isn’t showing any signs of slowing down. With the latest updates taking over the industry, you can have a lot of fun, provided that you are financially responsible and literate. Otherwise, your new beloved hobby could turn into a source of nightmares for the entire family.

Modernisation of the gambling industry in Canada – 5 key points

The entire gambling industry might look different than it did even just a few years ago, but most of these changes have been taking place over the course of time. At the moment, it seems like the following five points will make the biggest difference in 2023, but it’s important to keep in mind that they originated a while ago.

1. Live streaming

You already know that gambling and sports betting can become one of your favorite all-time activities – but what you don’t know is that the former can also turn into a full-blown career. And the way to achieve it is through life-streaming your gambling endeavors. However, we would like to point out that there aren’t many people who will be able to succeed in this field, which is why live streaming is a better idea if you are on the other side of it.

You can watch and stream casino games through streaming services such as Twitch, which happens to be the most popular option for gaming and betting fans.

2. Cryptocurrency

When it comes to the modern solutions applied in the gambling industry of Canada, the inclusion of cryptocurrency has to take center stage. Truth be told, blockchain technology and cryptocurrency have been around for some time, and they have already won the hearts of gambling enthusiasts.

Gambling Industry in Canada

However, 2023 might bring a shift in which cryptocurrency is used for online gambling. Thus far, Bitcoin has been the most popular cryptocurrency. Therefore, there are many Bitcoin casinos around. But with the Ethereum Merge happening in late 2022, we might see things start to change. It’s impossible to predict whether Ethereum will become as popular as Bitcoin in the gambling industry, and it’s even more difficult to judge when that will happen. Ethereum experts claim that the future for this cryptocurrency is bright, and the price is expected to rise in 2023. That’s certainly going to modernize the gambling industry in Canada as we know it, and many individuals will start to look beyond BTC.

3. Different payment solutions

If you are not new to the gambling industry, then you probably know that there are many payment solutions that are offered. Whether looking for Apple Pay casinos or the ones that accept PayPal, you’ll be able to find them without much struggle. Make no mistake – different payment methods have been a part of the industry for many years, ever since online casinos came to be. What’s new is the further integration of e-wallets that might make up the majority of online payments in the ongoing year.

It’s not just the conventional payment methods that are important for the modernization of the gambling industry in Canada – there are also cryptocurrency and NFT tokens, which come hand-in-hand with the concept of the Metaverse. Speaking of which, the Metaverse is going to be one of the biggest things to happen to the gambling industry since its emergence, as it’s going to bring a whole new meaning to the terms gaming and gambling.

4. New types of games will emerge

There were days when all a casino had to do was offer slot machines in order to be visited on a regular basis by a significant number of people. But those days are over. With so many different forms of online entertainment circling around, every casino has to go above and beyond to be better than the competition. While that might not be so amazing for these online establishments, it’s certainly incredible for all casino-goers. Nowadays, they get to enjoy a variety of different games which are modernizing the industry as we speak.

These new types of games will be completely different than what we are used to. In fact, they often support NFT integration and give the player a chance to be creative and innovative. Besides, the new era has brought around Metaverse casinos, which are very different from land-based and online casinos.

5. The mobile format is most likely to take the lead

We finish things off with a change that has been taking place for quite some time, as the whole world has been shifting to mobile-friendly websites. And, as expected, this shift is going to become even more evident in the year 2023. According to research, as much as 30% of all inquiries are made for mobile platforms specifically. Once you take into account how much time we spend on our phones at all hours of day and night, it’s no wonder that we have given up our PCs in favor of smartphones. This is a huge thing that online casinos need to keep in mind, as having an app allows them to reach the audience of digital natives.

Gambling Industry in Canada

The bottom line

The modernization of the gambling industry in Canada is still going strong, and the market looks different with every year that passes. Even though new terms (such as NFTs and the Metaverse) are being introduced into the community, it’s important to remember that some still prefer gambling in its original form. Whether you take pleasure in visiting a land-based casino or exploring the new territory of the Metaverse, it’s necessary to gamble responsibly and stop at the first sign of trouble.