How the worldwide pandemic changed the gambling industry in Canada
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The Coronavirus outbreak in 2020 brought the world to a halt. Both people and businesses in Canada were greatly affected. The gambling industry was one of the most affected industries. It affected sports betting, top land-based casinos, the best online casino in Canadian and more.
The pandemic in the world has affected the gambling industry in Canada. Several casinos had to be closed down due to the virus. The casinos thrive on the gathering of people and exchange of physical money.
The worldwide pandemic changed the gambling industry in Canada. Online casinos became popular because they offer lower bet limits. However, the increased popularity of online casinos still became an issue for both the industry and the regulators. Regulators took steps to help vulnerable Canadian gamblers. Online gambling companies revised their marketing strategies to avoid taking advantage of vulnerable players during the pand epidemic.
The worldwide pandemic affected the gambling industry. Sports betting was affected by the pand epidemic. The major leagues were closed for good by mid-March. Even the major esports competitions were canceled. In July 2020, the European leagues restarted.
The impact of the COVID-19 pandemic on lottery tickets and scratch cards was varying in Canada. By July 2020, sales of lottery ticket had fallen in Manitoba, while the sales for scratch card had risen.
The lockdown affected the Canadian gambling industry. The biggest brands didn't invest in new technologies and new software. Growing brands couldn't get the funding and partnership they needed to take the next step in their growth. Successful B2Bs lost revenue and customers because their investors, partners, and clients also suffered from the financial implications of the pandemic.
Gambling is one of the favorite activities of Canadians. The industry gets a revenue worth $31 billion annually with 15% being in taxes. In the spring of 2021, the Great Canadian Gaming Corp was ordered to shut down its Casino Nova Scotia. According to IBISWorld, revenue of Canadian gambling industry will plummet in the next five years.
