The COVID-19 lockdowns have had a direct effect on the iGaming industry. The shutdown has left many sites and casinos with high costs and limited revenue. Top sites have been forced to take their sites offline for a few weeks. Some experts believe this will be a good time for industry players to shift their focus to emerging global markets.
Since the Canadian government introduced its new law for online gambling, the iGaming industry in Canada has been feeling the effects of this change. The new law, which came into effect in October 2020, has forced many sites to close down their operations in Canada. This has left people who enjoy gambling online with fewer options and fewer places to do so. It is unclear what will happen with the final decision on this law, but it is expected that more sites will close down if it is decided that they are not allowed to operate in Canada anymore.
Today, many Canadians have turned to cryptocurrency as an alternative payment option. The use of bitcoin and other digital currencies is on the rise in Canada, and it’s becoming more and more accepted as a form of payment across many industries. It’s possible that this trend will continue for the iGaming industry, which could be seen as a positive side effect of this lockdown.
For now, though, Canadian players and the iGaming industry are still feeling the lockdown effects. Many iGaming websites that host games like poker and blackjack to suit all budgets still haven’t found a way to process payments after the lockdowns, leaving them unable to run their business efficiently.
The Future of the iGaming Industry in Canada
Canadian gaming sites are already facing many problems. The Canadian government has already taken steps to ban online casinos in Canada, and they will likely continue to make these efforts. This means that the future of the online casino industry is not very bright. However, since there are no laws for online casinos, it will be difficult for the government to combat them. This means that the online gambling industry in Canada will likely be around for some time, but it is unlikely that it will ever be as big as it was before.
The Bottom Line
Online casinos have been a part of Canadian culture for some time now, but this is unlikely to continue in the future. It looks as though the Canadian government will continue to work on ways to prevent people from playing on these sites. However, iGaming sites will find ways to make their games available to customers.