Can Both Types of Casinos Exist Together?
The industry surrounding online casinos is over 20 years old, but it has taken off at a rapid pace over the past decade. Essentially, the online casino format allows players to stay at home and find games instead of spending the necessary time and money to travel.
With the inclusion of Bitcoin at some casino sites and large improvements in customer service, the online casino industry is projected to continue growing. One establishment that may be feeling the effects more than others is the land-based casino.
Canadian Online Casino Options
In Canada, the battle between top online casinos and land-based casinos rages on as laws remain under the care of each province. Online casinos experienced a slow start as the technology was just being introduced. The licensing and regulations for all sites did not exist and player trust was extremely low.
Since the creation of government agencies that support legitimate casinos online, the industry now offers plenty of safe choice to players. The addition of security software and real people behind the player support services helped to enhance the online casino platform. At the same time, land-based casino stocks in Canada began to slide at the beginning of the decade.
Although the revenues dropped significantly for traditional casinos, income increased for online alternatives. The simultaneous change is only correlation, but it possibly signals the economic shift of having secure online casinos as an option.
Using Real Money Online at a Casino
Payment options at online casinos in Canada provided a massive boost to the industry once trusted e-wallets were introduced. The methods available make it convenient for depositing funds without risking one’s safety. In addition, most casinos online offer a free demo version of games. The free play feature allows players to try out a game without having to risk money in the first place. Perks related to payment options like a match bonus or cash back improves the appeal for a new player.
The most interesting question is whether both online casinos and land-based casino can truly grow together in the future. Many provinces in Canada control the access to online casinos, only allowing players to use state-sponsored sites or private casinos licensed locally. While the regulations seem to safeguard tax revenue for each province, they create a confusing landscape for online casino operators.
The online format for casinos had a seemingly impact earlier on in Canada, but land-based venues appear to be bouncing back. Ontario’s state-run betting arm reports that revenues had improved over the first quarter of 2018. The same trend was seen in Quebec, where lotteries and casinos are managed in the same fashion.
US Sports Betting
Even bigger competition may come from the south. The United States Supreme Court recently decided that sports betting online could be permitted on a state level. With popular casinos just below the Canadian border, the risk for lost revenue is more of an immediate issue.
While the coexistence of land-based and online casinos is a possibility for Canadian markets, they will have to keep up with the frenzied launch of US betting services. Big names such as Paddy Power Betfair and 888 Casino have already made a move in the States.