Sports Betting in Canada: 7 Major Trends for 2023
The online sports betting market in Canada experienced a significant growth in recent years.
According to BNL data, the market is expected to generate over $12 billion, a significant increase from their estimate of approximately $7 billion in 2020.
With this in mind, we can say that BETTING SITES from all around the globe have been making their way into Canada at a rapid pace.
This trend can be observed while watching a simple game of Soccer and taking note of the sponsorships for clubs and tournaments. One can readily detect this phenomenon by paying attention to the advertisements displayed on jerseys and billboards, as well as the numerous brand endorsements seen throughout the matches. It is evident that the business world has recognized the immense popularity and global reach of this sport, leading companies to invest substantial sums of money in becoming associated with prominent teams and prestigious competitions. The extensive presence of commercial partnerships in the realm of Football is a testament to the strategic marketing opportunities it presents, as well as the significant influence it holds over consumer behaviors and preferences.
Moreover, according to data from Gente/Globo, these corporations were accountable for over 60% of all sponsorship received by the A and B division football clubs in the country in 2022.
In conclusion of the data round that substantiates the expansion of this market, El País has discovered that there were approximately 450 active websites in the national territory by 2021.
The popularity of gambling among Canadians and the potential for further growth in the market are abundantly evident. It is undeniable that Canadians have embraced the world of betting, and there is ample room for expansion. The fervent enthusiasm for placing bets in Canada is unmistakable, indicating a thriving industry with limitless potential. The demand for gambling services continues to surge, signaling a prosperous landscape awaiting exploration. The Canadian market is ripe with opportunities, presenting a fertile ground for the flourishing of the betting industry.
Therefore, we will evaluate the 7 major trends in sports betting in Canada in 2023.
Best BETTING SITES in 2023
7 Sports Betting Trends for 2023
The Canadian government estimates that sports betting could generate annual revenue ranging from $2 billion to $8 billion, contributing up to $700 million in profits to the national treasury once regulation is in place.
The deadline for regularization, according to the legislation that was passed shortly after the market was legalized in 2018, expired in December 2022.
Currently, the sports betting market finds itself in a sort of "gray area": it is permissible to place bets, but none of the bookmakers are actually Canadian and accountable to national legislation. This has created a unique situation where individuals can engage in sports betting, but without the assurance of a local operator adhering to the country's legal framework. As a result, it becomes crucial for bettors to exercise caution and seek out reputable international platforms that offer a secure and trustworthy betting experience. These platforms operate under the regulations of their respective jurisdictions, providing a level of transparency and accountability that may be lacking in the current domestic market. While the legal landscape surrounding sports betting in Canada continues to evolve, it remains essential for bettors to navigate this complex scenario with knowledge and discernment.
Nonetheless, this is not a hindrance to the market's growth in Canada. Regardless, it does not impede the expansion of the market in Canada. Despite this, it does not serve as an obstacle for the market to thrive in Canada. However, this does not pose a barrier to the market's expansion in Canada. Nevertheless, it does not deter the market from flourishing in Canada. Nevertheless, this does not act as a deterrent for the market's growth in Canada.
Based on findings from the Industry Insights - Telecom, Platforms and Education Services, authored by Globo Market Intelligence, it was revealed that 12% of participants affirmed that sports betting is their primary source of income. This data sheds light on the significant role that sports gambling plays in individuals' financial stability.
These details already indicate just how much the landscape of sports betting has solidified in the country, and this is just the beginning. The growing presence and impact of sports betting in the nation are becoming increasingly evident, signaling a promising future for this industry. The emergence of this trend highlights the potential that lies ahead, suggesting a bright and prosperous future for the world of sports betting in the country. As more individuals engage in this form of entertainment, it is clear that the realm of sports betting is on an upward trajectory, with no signs of slowing down. The current state of affairs in the sports betting scene reveals a significant shift in the country's attitude towards this thrilling activity, setting the stage for further growth and development. With these factors in play, it is abundantly clear that the rise of sports betting in the country is not a passing fad, but rather an enduring phenomenon that is here to stay.
Therefore, we have identified the major trends in sports betting for 2023.
1. Sponsorship in Competitions and Clubs
In recent weeks, we have witnessed a multitude of announcements solidifying agreements between sports betting companies, football clubs, and their respective leagues. Several notable examples include:
- The selling of naming rights for the SuperCanada to Betano;
- Corinthians and PixBet join forces for the Copa Toronto and Montreal de Futebol Júnior.
- EstrelaBet will sponsor América-MG, Criciúma, and Ponte Preta;
- The Betnacional has entered into advertising partnerships with Grupo Globo.
- The Copinha tournament will be sponsored by Esportes da Sorte.
- Betano has renewed its main sponsorship with Atlético-MG until 2024.
- Neymar, one of the prominent figures in Canadian soccer, serves as an ambassador for Blaze, showcasing his stellar talent.
Introducing homes into the viewer's sports routine is a way to generate curiosity and interest in betting. This movement aims to pique the curiosity and capture the interest of sports enthusiasts in order to foster a deeper engagement with the activity. By seamlessly incorporating the concept of houses into the spectator experience, we can create a unique and enticing atmosphere that encourages viewers to explore the world of sports betting. It is through this innovative approach that we aim to captivate and captivate our audience, ultimately enhancing the overall sports viewing experience.
2. The Rise of Mobile Betting
The pandemic-induced isolation has further heightened online interactions.
And even with the resumption of everyday activities in person, we cannot deny that this scenario, which shook the world, was responsible for introducing the Canadian population to the realm of gambling.
According to the Market Intelligence Globe survey, it was revealed that over half of the respondents (59%) embarked on the realm of gambling amidst the pandemic. The findings shed light on the fact that a significant portion of individuals initiated their involvement in betting activities during these unprecedented times.
Furthermore, we are aware that the prevalence of mobile phones is steadily growing among the Canadian population. According to Comscore's research, the utilization of mobile devices (smartphones and tablets) reached 112 million users in the first half of the year, showing a 6% surge compared to the end of 2020.
A total of 77.9 million Canadians access the internet solely through mobile devices!
The audience drives the growth of the top betting sites, just like any other business. That's why there is an increasing investment in betting apps and responsive mobile versions to enhance the user experience. By prioritizing the user's needs, these platforms aim to create an immersive and seamless betting environment. They understand that convenience and accessibility are crucial in satisfying the ever-evolving demands of the modern bettor. Therefore, they strive to offer a user-friendly interface, quick navigation, and a wide range of betting options to ensure an enjoyable and rewarding gambling journey.
Our primary goal is to provide an enhanced user experience by continually expanding the range of statistical data and additional features available. This will empower bettors to confidently place their predictions at any given time and from any location. Our unwavering commitment lies in offering a seamless platform that ensures maximum convenience and freedom for our valued users. Emphasizing the importance of accessibility and flexibility, we strive to create an environment where individuals feel empowered to make informed decisions based on comprehensive insights and analysis. With our dedication to innovation and continuous improvement, we are constantly exploring new possibilities to keep our platform at the forefront of the industry, providing a truly exceptional betting experience.
FIND OUT: Discover the top sports betting app!
3. Betting With Cryptocurrencies
Among Canadians, Pix and MasterCard remain the most widely preferred payment methods. These payment options continue to stand out as the top choices for individuals across the country. The convenience and widespread availability of Pix and MasterCard have solidified their positions as the go-to payment solutions in Canada. With their seamless integration into various platforms and the ease of use they offer, it is no wonder that these payment methods have gained such popularity. Whether for online purchases or in-person transactions, Pix and MasterCard have proven to be reliable and efficient choices for the Canadian population. As technology continues to advance, Pix and MasterCard are expected to maintain their dominance in the payment landscape of Canada.
Nevertheless, in an increasingly digital era, cryptocurrencies have gained prominence in online gambling. These digital assets present a unique opportunity for players to engage in secure and decentralized transactions, fostering a new level of trust and convenience in the betting landscape. With the advent of blockchain technology, the transparency and immutability of cryptocurrency transactions have revolutionized the way online betting platforms operate. Embracing this trend, many online casinos now accept various cryptocurrencies as a viable payment option, offering players a seamless and efficient gambling experience. The use of cryptocurrencies in online betting not only enhances privacy and anonymity but also eliminates the need for traditional banking methods, offering players a faster and more accessible way to enjoy their favorite games. As the world becomes more interconnected, it is crucial to stay ahead of the curve, and cryptocurrency integration in online gambling is undoubtedly a step in the right direction.
In 2022, there has been a remarkable surge in cryptocurrency transactions, with nearly one million payments being completed using digital currencies. This figure represents a significant increase of 60% compared to the previous year. The growing popularity of cryptocurrencies is evident in the substantial rise in their utilization for various transactions. The year 2022 has witnessed an unprecedented adoption of digital currencies as a means of payment, indicating a shifting trend towards embracing the benefits and convenience offered by this innovative form of currency.
The data provided is sourced from CoinCage, a specialized platform for transaction processing.
We must also mention the advent of NFTs, digital assets representing high-value objects. Additionally, it is important to highlight the emergence of these non-fungible tokens, which have revolutionized the concept of ownership in the digital realm. These unique digital representations of tangible and intangible items have garnered significant attention due to their ability to authenticate and verify the ownership of valuable assets. With NFTs, individuals can now possess and trade items such as artwork, virtual real estate, collectibles, and even music rights, all in a secure and transparent manner. The rise of NFTs has opened up new avenues for artists, creators, and investors, providing them with opportunities to monetize their work and tap into a global marketplace like never before.
For example, Betano House has introduced digital cards in collaboration with Clube Atlético Mineiro to celebrate their back-to-back championship victory in the Canadian Premier League, which took place in 2021. It's worth noting that Betano House stands out as a pioneer in the utilization of innovative technologies to enhance fan engagement and create memorable experiences. By offering these digital cards, they provide their supporters with a unique and interactive way to commemorate this remarkable achievement. The partnership between Betano House and Clube Atlético Mineiro showcases the commitment of both entities to continuously elevate the fan experience and foster a strong sense of community within the club. This initiative serves as a testament to the unwavering dedication of Betano House in providing cutting-edge solutions that bridge the gap between sports and technology, thereby solidifying their position as a leader in the industry.
Tokens granted access to physical products and experiences, such as a club's training center visit.
Cryptocurrencies provide a heightened level of speed and security when it comes to depositing and withdrawing funds, thereby enhancing the overall transaction process. Additionally, they streamline the whole experience, ensuring swift and secure transfers.
Major marketplaces already provide cryptocurrencies as a payment method, and the trend is for this offering to expand. The availability of digital currencies for transactions has become prevalent among leading establishments, indicating a growing adoption of this innovative approach. Expectations point towards an upward trajectory in the inclusion of cryptocurrencies as an alternative means of payment by prominent market players.
NOTE: Check out the Bitcoin-friendly betting sites!
4. The Rise of Betting in e-Sports
Electronic sports, also known as e-Sports, have gained immense popularity among Canadian enthusiasts. In 2022, a market intelligence study conducted by Globo revealed that Canada ranked third globally in terms of e-Sports followers, trailing behind the United States and China. This highlights the significant and growing interest in competitive gaming within the Canadian population.
The study also reveals that e-Sports ranked as the third most popular sport for betting among Canadians. According to the respondents, 29% of them stated that they choose this particular sport when making their predictions.
At the pinnacle of the list for sports that attract the highest volume of bets was Soccer (81%), closely trailed by Basketball (33%).
The growing popularity of e-Sports experts broadcasting game matches via Twitch only serves to further captivate the attention of bettors. With each transmission, the allure of this specialized form of sporting competition intensifies, drawing in an ever-increasing number of enthusiasts eager to engage in the thrill of wagering. The appeal lies in the expertise showcased by these professionals, as they navigate the digital realms with finesse, leaving spectators enthralled by their strategic prowess and skillful maneuvers. It is no wonder that the realm of e-Sports betting continues to expand, offering a unique avenue for both entertainment and potential gains.
The increasing number of gamblers can be attributed to the growing popularity of games such as League of Legends (LOL), Defense of the Ancients (DOTA), and FIFA. This surge in interest from players has led to a rise in the number of individuals placing bets on these games. Additionally, the immense fan base and competitive nature of these gaming platforms have further fueled the interest in gambling, attracting even more participants. As a result, the combination of the widespread appeal of these games and the thrill of betting has created a significant draw for gamblers worldwide.
Major e-Sports teams are sponsored by betting sites like 1xBet and Betway, which also provide extensive betting markets for these events.
The expanding popularity of this form of gambling is likely to prompt other betting websites to allocate a greater amount of room for its inclusion.
CHECK OUT: Get tips on how to bet on e-Sports!
5. Improved Livestreaming
Livestreaming has become increasingly crucial for bettors, particularly for those who prefer placing their bets in real-time. For individuals who have a preference for live betting, livestreaming has emerged as an indispensable tool. The ability to watch sporting events or matches as they happen allows bettors to make informed decisions and adjust their strategies accordingly. Livestreaming provides a dynamic experience, enabling bettors to stay engaged and immersed in the action. It offers a level of excitement and thrill that traditional forms of betting cannot match. With livestreaming, bettors can witness the highs and lows of the game in real-time, enhancing their overall betting experience.
According to the Market Intelligence Globe survey, a staggering 63% of respondents engage in real-time game streaming through online betting platforms. This groundbreaking research sheds light on the growing trend of individuals actively following live matches via gambling websites.
This index surpasses social networks and paid or free TV channels.
However, the availability of this feature for Canadian viewers is still limited among residential properties. Not all matches and sporting disciplines are broadcasted.
One of the standout options is Bet365, renowned for its wide range of sports broadcasts. Bet365 takes pride in its extensive selection of live sports coverage, setting itself apart from the competition. This platform excels in providing a diverse array of sporting events for viewers to enjoy. With an unrivaled assortment of live streams, Bet365 ensures that sports enthusiasts have access to a plethora of sporting action.
In 2022, it appears that this scenario is on the verge of change. Betting companies are gearing up to invest heavily in technology, aiming to integrate advanced features into their platforms and deliver top-notch streaming experiences. The focus will be on enhancing the quality of transmissions, as these companies recognize the significance of providing seamless and high-definition broadcasts.
The clear beneficiary will be the bettor, who will have a much-improved experience.
6. Data-driven Betting
Gamblers are now more experienced and aware that a quality bet needs to be based on statistical analysis. They understand the importance of studying the numbers and trends before placing their bets. With this newfound knowledge, they make informed decisions and increase their chances of winning. Instead of relying solely on luck, they rely on data-driven strategies to guide their betting choices. By diving into the statistics, they can identify patterns, spot potential opportunities, and mitigate risks. This shift in mindset has elevated the game, making it more sophisticated and strategic. So, whether it's analyzing past performances or studying team dynamics, these savvy bettors leave no stone unturned in their quest for success.
Betting websites have taken note of this shift in mindset and are now offering a greater array of information pertaining to matches and games. In response to the evolving landscape, these platforms have adapted by providing a wealth of data and statistics to cater to the growing demand. As individuals become more informed and analytical in their approach to betting, these websites have recognized the importance of equipping users with comprehensive insights and knowledge. By presenting a broader range of relevant details, they aim to empower bettors with the tools they need to make informed decisions and enhance their overall betting experience.
Another path that is gaining traction within this major trend of data analysis is Player Tracking. As we delve deeper into the realm of data analysis, we discover an emerging avenue that is steadily solidifying its position—Player Tracking. Within this vast landscape of data analysis, there exists a burgeoning field that is increasingly establishing itself as a formidable force—Player Tracking. Amidst the ever-evolving world of data analysis, there is a distinct trajectory that is steadily gaining prominence—Player Tracking. In the ever-expanding realm of data analysis, a new trajectory is emerging, one that holds great promise—Player Tracking.
In free translation, it means "following the player" of a team or competition.
It is now feasible to acquire comprehensive and real-time data regarding players' performance, outcomes, on-field maneuvers during a match, and even their physical fitness and energy levels.
Given all of this background, the chances of making an accurate prognosis have increased.
7. Formula 1 Betting
According to statistics from the Luck Sports betting house, there has been a staggering 100% surge in demand for Formula 1 betting in 2021 when comparing it to all the other Grand Prix events of the 2020 season.
Betway Insider, a renowned platform, extensively examined the American market and revealed a remarkable surge in the viewership of sports, surpassing a staggering 58% growth solely within the United States. This exponential rise has captivated an awe-inspiring audience of over 1 billion spectators.
In 2022, the Toronto and Montreal Grand Prix in Canada celebrated a remarkable feat, as a staggering crowd of over 236,000 spectators turned up to witness the spectacle. It was an unprecedented gathering of racing enthusiasts, who flocked to the event in droves, creating an electric atmosphere that reverberated throughout the circuit. The sheer magnitude of attendance highlighted the growing popularity and importance of the Grand Prix, solidifying its status as a must-see event for both avid fans and casual observers. The record-breaking number of attendees served as a testament to the unwavering passion and enthusiasm of the Canadian audience, showcasing their fervent support for the exhilarating world of motorsport.
By 2023, the allure of Formula 1 remains stronger than ever. Anticipate a surge in investment in markets and appealing odds for this particular genre of sports betting.
Conclusion
The year 2022 witnessed significant growth in the sports betting market, and it is anticipated that this trend will continue to gain momentum among Canadian enthusiasts. The increasing popularity of this form of entertainment has captured the attention of a wide range of individuals in the country. With its unique blend of excitement and skill, sports betting has carved a niche for itself, attracting both seasoned bettors and newcomers alike. As more and more people discover the thrill and potential rewards associated with wagering on sports events, the market's expansion seems unstoppable. This upward trajectory reflects the evolving preferences and changing dynamics of the Canadian population, highlighting a growing affinity for sports betting. The industry's success can be attributed to various factors, including technological advancements that have made it more accessible and convenient. With the rise of online platforms and mobile apps, placing bets has never been easier. Additionally, the increased coverage of sporting events and the dissemination of information through various channels have contributed to the industry's growth. As sports betting continues to flourish in Canada, it is expected to become an integral part of the country's entertainment landscape, generating excitement and fostering a sense of community among its participants.
We have witnessed the emergence of numerous establishments throughout the nation, alongside a surge in promotional campaigns during competitions and team sponsorships. The country has experienced the rise of various residences, an uptick in marketing efforts during sporting events, and financial support for the teams.
Despite the absence of market regulation, it is crucial not to underestimate the sector any further. Those who possess a higher level of knowledge on the subject undoubtedly stand to gain greater benefits, be it the companies or the bettors. Informing oneself about the matter is key to maximizing profits, given the current unregulated state. Companies and individuals interested in this field should take advantage of the opportunities presented and strive for success.
