Canada’s online gaming industry has been growing rapidly in recent years, with more and more Canadians turning to online platforms for their gaming needs. This trend is expected to continue in 2023, as the industry continues to evolve and adapt to changing consumer preferences.
One of the key drivers of industry growth is the increasing adoption of new payment technologies. Many players are still hesitant to use traditional methods such as credit cards due to concerns linked with unwanted fees and low acceptance rates. In this environment, bank-account-based payment solutions like those provided by Paramount Commerce thrive as they address these concerns. Not only do they provide a seamless payment journey but they also eliminate cash advance fees and bring high acceptance rates for players. In addition to that, Paramount Commerce is set to introduce new innovative payment features that will support merchants through consumer loyalty and acquisition as well as conversion.
In addition to the need for innovative payment solutions, the online gaming market of Canada is also set to experience moderate expansion in 2023. With the increasing popularity of online gaming in the country, as well as the changes in regulations surrounding the industry, further growth is on its way. As a result, more and more online gaming sites will enter the Canadian market, offering players a wider variety of games and betting options.
One source of this market expansion is the rise of mobile gaming. With the increasing use of smartphones and tablets, more and more players are turning to mobile gaming as a convenient and accessible way to enjoy their favorite games. This has led to an increase in the number of mobile-friendly online gaming sites, as well as the development of mobile-specific games and apps.
Another source of market expansion is the growing interest in esports betting. Esports, or competitive video gaming, is rapidly gaining popularity in Canada and around the world. As a result, more and more online gaming sites are offering esports betting options, allowing players to wager on the outcome of professional gaming matches and tournaments.
In conclusion, Canada’s online gaming industry may experience significant growth in 2023. With innovative payment solutions such as Paramount Commerce’s bank-account-based payment solutions, and the expansion of the market through sources such as mobile gaming and esports betting, players in Canada will have more options and greater convenience when it comes to online gaming.
Also, the Paramount Commerce team will be traveling to the beautiful UK to conquer ICE London 2023. The event is happening from February 7th to 9th at ExCel London. We will be making a BIG announcement during the event, so be the first one to hear about it. Chat with our team today: https://paramountcommerce.com/contact