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Future Of Online Gambling In Canada 2021

By the end of 2020, the stock markets reviewed gambling market to understand where the industry will be going. The current figures also help casinos predict and create budgets for the entire next year. Although for many other industries the previous year was not promising, and 2021 will probably not bring big changes, gambling market has seen considerable growth so far.

Sure, online gambling has been way more popular than offline gambling with the restrictions and closures of land-based casinos. Still, some representatives of brick-and-mortar casinos have managed to develop their businesses in an online environment. And those who are already online have improved their current places, whereas new online casino sites earned their place in the sun.

The global market sees real changes in growth of the industry-makers. We also did research on what gambling companies are on the rise at the moment. In other words, what online casinos are growing their revenue. Thus, they will be very profitable from the points of view of stock market investing and playing.

Canadian Online Casinos to Join in 2021

We’ve compiled a list of online casinos that will be booming in 2021. We recommend trying them and sticking with them for at least some time. They will surely bring a lot of profit to their players.

To learn more about the recommended gambling sites, visit our Casino Reviews page to read the reviews. There we give you full information and recommendations regarding the casinos, their welcome bonuses, and games.

Sports Betting in Canada

Over the last year, the sports industry including betting on sports was quite disrupted. All major sports events were delayed or cancelled for more than a year due to the worldwide pandemic. Bookmakers couldn’t do anything but sit and wait till everything is back. Of course, their revenue dropped significantly, though today it’s coming back to normal again. Sports events are now held with the necessary self-safety measures which allows people to watch sports and place their bets.

Apart from the pandemic issue, Canadians can finally celebrate the positive changes in sports betting legislation. The private member’s Bill C-218 which supports single event sport betting was scheduled to be examined in the Justice Committee on February 23 and 25, 2021. Though the final submissions and amendments on the Bill will be introduced on March 11 and 23, 2021. And if the Bill C-218 is finally enacted in the Canadian legislation, the provincial regulators will determine how to implement single event sports betting and arrange its further regulation.

Digital Gambling

As we’ve mentioned, many brick-and-mortar venues turned online which was a great move for survival in 2020 and later. New gambling businesses have also made a huge step forward right in the midst of online casino popularity. Digitalization was a smart decision for many businesses that could quickly adapt to the worldwide changes.

Virtual Reality

However, gambling can still go further and offer new gaming solutions and ideas. Recently, the idea of virtual reality gambling has come so far that gaming providers are almost conquering with each other to invent the first ever VR game available to everyone from the comfort of their homes.

It can be difficult from the technical point of view but the best and smartest minds are already working on implementing the technology to everyday life. Considering that gambling market in Canada is now one of the biggest in the world, Canadian players can expect the changes already in 2021 or on the verge of 2022.

Decentralization

Although there’s just been a shift from land-based casinos to gambling sites, the technology doesn’t stop there. An idea of creating a new type of casino with a 0% house edge is something unbelievable. It hasn’t yet fully established itself on the gambling market, but it may surely do over the next few years.

Just like the crypto casinos that were underrated just a while ago, another type of casino is fully decentralized due to the use of blockchain. It also employs the technology of smart contracts that replaces house edge. So, instead of playing against casino, players compete with each other. In decentralized casino, players can bet and win only crypto currency. To learn more about the blockchain zero house edge casino, visit our gambling blog.

The casino may not be yet available in Canada, but pretty soon Canadians will be able to try it out. For now, gambling market offers bitcoin online casinos like 7Bit casino which also provide BTC games and payment options. The best part of it is that players can withdraw without verification of their account.

Closing Thoughts

The future of online gambling is very promising at least because the online services are now on the rise. Everything that you can do from home or remotely is now very popular. Desktops and mobile devices have become the best friends of Canadians over the last year. In 2021, this online popularization will still be growing.

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FAQ

The Canadian taxation authorities don’t oblige anyone to pay tax on winnings from gambling. However, this applies only to BC players who have another source of income, for example, a regular full-time job. If you consider gambling as your profession and earn money only from casinos, you will have to pay taxes on your winnings. On the bright side, you can also legally deduct your gambling losses.

The London-based online casino with UKGC and MGA licenses is fully and officially legit. It follows the rules of British jurisdiction. Casimba can violate some of these regulations. But then, the casino has no way to get away with the huge fines and restrictions of up to company liquidation.

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