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Canada's province of Ontario is in the midst of a short-term shut down of all land-based gambling establishments and it could mean big things for the online casino industry.
The short term closure has been set in motion from the 5th of January until the 26th of January 2022. Whether the closure plans will be lifted or not remains to be seen, but for now, businesses are planning to open once more from the 27th of January.
During this time, Fintan Costello, an industry expert, believes that online gambling will soar as players search for new ways to experience their favourite casino games. And what better way to play than by visiting an online casino when you're stuck at home?
A Silver Lining for Ontario's Casino Industry
While there's no doubt that the closure of land-based casinos, gambling establishments, and bingo halls is beyond frustrating for all, there is a silver lining for those in the online industry.
As players look to explore other options, customers will undoubtedly look to the world of online casinos for entertainment. Even those Ontarians who've never considered signing up at an online casino before may take a closer look at the games and offerings available. More and more online casino brands are applying for licenses, giving Canadians more options to choose from too.
There are many who believe that the Canadian government and gambling regulators may put granting online casino licenses on hold to protect the land-based industry as it currently stands. While this makes sense for those with an investment in brick-and-mortar casinos and gambling spaces, stunting the growth of the online sector could be harmful.
Online Gambling in Canada
It was recently predicted by Costello and his team in the 'Bonus Index' that North America, and Ontario in particular, would be the next shining star in the online gambling industry. It has been dubbed the "most important online and sports betting market" in 2022.
As it stands, Ontario currently has a population of 15 million people and over 70 online brands looking to receive a licence. This means the market stands to be very competitive which is always a win for players. Costello added:
“Based on the open and competitive legislation, we still see Ontario as the number one state in North America in 2022. In terms of worst-case scenarios, the most realistic scenario is that there are delays to the market going live and the extreme scenario is that the legislation gets changed for the worse in response to COVID. My money is on a slight delay. What the data shows is that competitive and open markets (with a large number of licenses with online sportsbook and casino products available) will outcompete larger population states with more restrictions."
It remains to be seen how the online casino industry in Ontario will respond to the land-based casino closures but there's a good chance that this could be a massive boost for those who already hold licences.
