The Canadian Gaming Summit will return for the 26th edition on June 13, 2023. The three-day event will take place at the Metro Toronto Convention Centre and will welcome at least 2000 delegates from all over the country.
SBC will be the event’s main producer although it will receive help from the Canadian Gaming Association (CGA). Last year’s theme was, “Canada—A World of New Opportunities.”
What can you expect from the country’s premier gambling event this year?
Ontario’s Roaring Success in iGaming
Ontario legalized commercial iGaming in April last year. Since then, the province has licensed 45+ operators, including some of the best slots sites online: LeoVegas, Royal Panda, Casumo, and Betway, to name a few.
Ontario’s legal online gambling space has been a tremendous success. Gamblers have opened over 1.6 million betting accounts in the past year. In turn, they spent roughly $35.6 billion on casino and sports bets.
Ontario-based betting sites generated $1.4 billion in revenues between April last year and April this year. The typical Canadian spent an average of $70 every month betting on sports or playing casino games.
Against that backdrop, Ontario’s success in iGaming will be a hot topic this year. Delegates will likely reference the province’s performance as a reason why more provinces need to commercialize online casinos and sports betting.
In any case, privatizing remote gambling will benefit all stakeholders. Provinces will generate higher taxes. Gambling sites will operate legally while gamblers will have a wider range of betting options.
Opportunities for New Online Gambling Brands
The online gambling industry in Canada is relatively new. Despite that, the country is packed with opportunities for new operators that want to thrive in the competitive market.
The first opportunity speakers at this year’s summit will talk about is tax breaks. Every company loves tax breaks. In Canada, online gambling companies can apply for tax deductions worth up to 30% in some provinces.
The deductions apply to a company’s income for a maximum of $500,000. Let’s say a gambling site meets the criterion for receiving tax deductions after earning $300,000. It could qualify for a tax break worth $100,000 in British Columbia.
Another opportunity for Canadian gambling businesses is Canada’s proximity to the US. Vancouver shares time zones with Las Vegas, Seattle, and Los Angels. By comparison, Montreal and Toronto share time zones with New York and New Jersey.
In other words, gambling sites in Canada can work seamlessly with investors and employees based in major US cities. Similarities in Time Zones and national languages also mean that bettors in Canada share a lot with Americans.
Access to Talent
When you think about it, Canada’s talented workforce is a major reason for the growth of iGaming in the country. Many well-known gambling companies started in the country: Bodog, Amaya Gaming, and Score Media.
Additionally, Canadians hold senior positions in some prestigious foreign brands like Poker Stars and Caesars Digital. Beyond the local talent, Canada makes it incredibly easy for companies to hire foreign talent.
People who want to move to Canada permanently first need to apply for a work permit. After accumulating 1560 work hours, they can then apply for permanent residence.
Another way to bring talent to Canada is by using the Global Talent Stream Program. It helps Canadian businesses process work permits for foreign talents in under two weeks. Usually, this program works only when you’re trying to hire specialists in areas like statistics, software engineering, and data science.
Sports Betting
Last year, sports betting was a big focus of the Gaming Summit. This year will be no different. Legal sports betting is now more than a year old. It’s popular. It’s generating a lot of money for sportsbooks and has a bright future.
Sadly, most provinces don’t seem to care about the potential legal sports betting holds in Canada. As such, you should expect talks about why more provinces need to legitimize sports gambling, especially for the private industry.
Sports betting is more popular than casino games of chance. Most people who gamble online in Ontario bet on sports. That means there’s social acceptance in the country. And as a result, the industry could perform much better if properly regulated.
Of course, delegates will also focus on the future of sports betting in Canada. Will Ontario’s iGaming space continue to soar? Will more provinces privatize sports betting?
Controversies Surrounding Gambling Advertising
Although the gambling industry is growing in Canada, it’s not without controversies. Advertising has been a major issue in the last year. And it’s easy to see why.
CBC Canada did a study on the number of betting adverts featured in one NHL game earlier this year—Maple Leafs vs Florida Panthers. It counted an average of nine betting ads per minute for the duration of the game.
Canadians in general have been complaining about the number of betting adverts aired on TV. Many of them agree that betting companies need to tone down their advertising efforts.
More importantly, they’re suggesting that celebrity advertising should be outlawed. Famous athletes, actors, and singers have a significant influence on their fans. This shouldn’t be a problem, except for the fact that celebrities might encourage underage fans to bet on sports.
In light of that information, delegates at this year’s gambling summit may share their opinions on what needs to be done about advertising. The gambling industry may take proactive measures to reduce aggressive marketing. Or it could wait for the government to take action.
Increasing Customer Satisfaction
Another topic that will dominate the summit’s agenda will be how gaming companies can increase customer satisfaction. Both casinos and sportsbooks yearn for engagement from their customers. So, what can they do to make it happen?
Last year, speakers encourage land-based casinos and sportsbooks to establish an online presence. More and more bettors in Canada are prioritizing online gambling.
But they’re picky about what they want. Bettors want sites with competitive odds and high-paying games. They want fast payouts and personalized experiences. Operators that can center their businesses on customer satisfaction will have greater chances of success.