The Future of Gambling in Ontario is all tech and tourist hot spots. How a significant expansion of online gambling sites and brands and augmented reality is changing betting.
Even before recent changes in legislation, Gambling has been a popular pastime in Ontario for a long time. But with the rise of technology and changing customer preferences, the industry could be seeing some big changes.
These changes will affect both land-based & online casinos in Ontario, as well as other forms of gambling, so let’s take a deeper look at the current state of gambling in Ontario and the different factors that are influencing its future.
The Current State of Gambling in Ontario
Land-Based Casinos and Racetracks
Ontario is home to multiple land-based casinos and horse racetracks, including the popular Casino Niagara and Woodbine Racetrack. These establishments have been a popular gambling hotspot for locals and tourists alike.
Under current legislation, these casinos and racetracks can legally operate in the jurisdiction but they took a hit during the pandemic and are only just really starting to recover revenue-wise.
Online Gambling and Sports Betting
While land-based casinos continue to play an important part in Ontario’s gambling industry, online gambling and sports betting are rapidly growing in popularity. The Ontario Lottery and Gaming Corporation (OLGC) recently announced plans to launch an online gambling platform in the province, allowing the residents of Ontario to access a range of games from the comfort of their own homes.
In addition, the semi-recent legalization of sports betting in Canada could have huge implications for the industry. While it’s still unclear how exactly the regulations will be implemented, it’s likely that this will result in a significant increase in sports betting options for Ontario residents, with many brands jumping on the opportunity to offer their markets to this new market.
Lotteries and Charitable Gaming
Lottery and charitable gaming have long been a staple of Ontario’s gambling industry, with proceeds going towards a range of important causes. However, with the rise of online gambling and sports betting, it remains to be seen how popular these options will remain in the future due to the fact they offer rather limited choices compared to full-blown casinos.
Things That Could Affect The Future Of Gambling
Expansion of Online Gambling Options
With the launch of the OLGC’s online gambling platform, it’s likely that we’ll see a significant expansion of online gambling sites and brands in Ontario. This will bring with it a wider range of games and betting options, as well as better integration with mobile devices.
New Casino Resorts
Despite the challenges facing the industry, it’s likely that we’ll continue to see new land-based casinos and resorts being developed across the province, especially in tourist hot spots. These resorts will bring taxable revenue and visitors to the places where they’re built so we could see different places in Ontario fighting it out to be selected for a new resort.
Growth of eSports Betting
eSports betting is rapidly growing in popularity around the world, and it’s likely that this trend will continue in Ontario as well. With the rise of online gaming and professional eSports leagues, there is a huge potential market for this type of betting. With the legislation on sports betting changing, this new market is likely to jump on the new craze of eSports.
Virtual Reality and Augmented Reality in Gambling
Virtual reality and augmented reality have huge potential to revolutionize the gambling experience, potentially offering a more immersive and realistic experience whilst players sit in the comfort of their own homes. While it’s still early days for these technologies, it’s likely that we’ll see further developments in this area in the coming years.
Conclusion
While the future of Ontario’s gambling industry is uncertain and you’d need a crystal ball to accurately predict what will happen, there are many exciting developments on the horizon. From the growth of online gambling and sports betting to the potential of virtual and augmented reality, these changes have the potential to revolutionize the industry. But what it really comes down to are a few things including technological developments, changing consumer preferences, and government policies.