4 trends that have reshaped Ontario’s gaming market:
Ontario is arguably the most exciting place in the world for iGaming at the moment, with the significant legalization of sports betting and online casino gambling in April 2022 causing a monumental surge in popularity. From looking at the gaming vs movie industry revenue over the past few years, it’s already clear that people are increasingly turning to dynamic, hands-on gaming options rather than simply watching movies or TV programs.
This has been intensified in Ontario, as players can experience a whole new world after the landmark laws were passed. The Alcohol and Gaming Commission of Ontario now oversees legal iGaming in the province, leading to increased safety for players and far more opportunities for global gaming brands. It has resulted in a huge array of potential gaming options and several new trends that are actively reshaping Ontario’s gaming market. Stay with us for an in-depth exploration and some examples of how things are evolving in the province.
Official licensing and regulation
The main trend for Ontario’s gaming market is undoubtedly the new legal framework unveiled in 2022. The province is one of the top five jurisdictions in North America already regarding profit and player base, which is highly impressive considering it hasn’t been much longer than a year. It just shows the appetite for regulated iGaming in Ontario, and it’s no surprise that this landmark event has triggered several other pertinent gaming trends.
There are countless reasons why official licensing and regulation is such an important catalyst. Arguably, the main consequence is that iGaming fans can finally play the creme-de-la-creme of the online casino gaming world without worrying about whether or not they are signing up to a dodgy site. Before the landmark ruling and formation of the Alcohol and Gaming Commission of Ontario, the only way for players to enjoy casino games was through offshore sites, which could often be risky. Furthermore, the legalization has also attracted many of the world’s top software developers and gaming platforms, thereby creating an even better array of options for players.
Open banking and other new payment methods
One of the most underappreciated yet important Ontario gaming trends is the proliferation of new and exciting payment methods. While players had to make do with conventional bank transfers and debit card transactions for most of the 2010s, there are now several other ways to fund your iGaming account. For example, the new wave of gambling-orientated e-wallets like Skrill have made it much easier and safer to pay into your iGaming account.
But the most significant new payment methods operate using open banking, an innovative network that allows players to pay directly from their bank accounts without disclosing any sensitive banking information. Interac is a Canada-specific platform that has streamlined the payments process and started a quiet revolution among Ontario gamers. It’s arguably one of the most important gaming trends, helping players fund their accounts easier and with more security.
Cutting-edge online slots
Ontario’s gaming market has experienced a significant increase in its potential game selection over the past few years, especially since the landmark April 2022 change to online gambling laws. This is most notable with the online slots industry, which has treated players to a torrent of incredible new titles utilizing forward-thinking technology to push things forwards at a remarkable rate.
Cutting-edge online slots can have an incredible number of ultra-modern features nowadays. From complex bonus rounds with things like infinite multipliers to expanding reels and even dedicated mini-games, there are almost endless possibilities for slots fans in 2023 and beyond. Developers such as NetEnt and Big Time Gaming are constantly working on new technologies as well, so this is still very much the start of what could ultimately be on offer.
Crypto gambling and blockchain technology
Cryptocurrencies have become popular and successful over the past decade, buoyed by the impact of Bitcoin and other popular tokens like Ethereum. The ability to make payments via cryptos is another high-profile example of how new technology and trends are reshaping Ontario’s gaming market. Using cryptos provides complete anonymity and can offer lightning-fast transaction speeds.
But this is only the start where cryptocurrencies and online gaming are concerned. More recently, inventive software developers and iGaming platforms are turning to blockchain technology to create new ways of designing games. The results so far are transformational, and we cannot wait to see how far things go.
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