The 2024 Canadian Gaming Summit (CGS) brought together more than 3,000 delegates to discuss the future of Canada’s regulated gaming market.

Across three days, speakers and industry professionals discussed market expansion, consumer expectations, identity verification, and payment technology.

Here are four key takeaways from the event.

Ontario’s success leads the way for Alberta

Alberta was a major topic at this year’s Canadian Gaming Summit.

Several panels looked at what a regulated gaming market could mean for the province. Speakers also discussed lessons from Ontario and how they could apply to Alberta.

Martha Otton, Executive Director at iGaming Ontario shared insights from Deloitte’s report on the economic contribution of a regulated iGaming industry.

At the time, Ontario had close to 50 operators and 80 gaming sites. The market had also generated $2.4 billion in revenue during its second year and supported close to 15,000 jobs.

The discussions highlighted Ontario as an important reference point as Alberta considered its own regulated market.

Although no timeline for Alberta’s regulated market was provided, Paramount Commerce is ready to support operators preparing to enter Canada’s second regulated gaming market with simplified payment solutions.  

Consumers crave a personalised experience

Consumer experience was another major theme at CGS 2024.

The average player has accounts with multiple operators. This means operators are competing for attention in a market where consumers have more choices.

Speakers highlighted several expectations:

• Faster and simpler experiences
• Easy account registration
• Convenient payment options
• Consistent experiences across channels
• More personalised communication

Payment was also part of the conversation. Local methods such as Interac and pay by bank can form part of the broader payment experience.

The event also explored changing consumer behaviour among younger adults. During a panel on Millennials and Gen Z, speakers discussed how expectations around digital experiences continue to evolve.

Introducing Interac Verified™  

The CGS 2024 program also featured a demonstration of Interac Verified.

The solution is designed to make identity verification simpler by allowing users to verify their identity without manually entering as much personal information.

During the session, Interac Product Manager Boris Pavlovic and Senior Business Development Manager Vanessa Hartwick demonstrated the registration experience.

At the time of the event, Interac Verified was available to crown corporations. The technology highlighted how digital identity and verification could become a bigger part of online registration processes.

Innovation and the future of payments

Paramount Commerce’s Chief Revenue Officer, Sereena Boparai,  participated in a panel session on ‘The Role of Payments in Customer Acquisition, Growth and Commercial Success’. Sereena was joined by Nuvei, ESPN BET & theScore Bet, and Great Canadian Entertainment to discuss how payments contributed to the growth and success of Canada’s iGaming industry.

Some key takeaways from the panel included:

• To continuously improve the player experience and stand out amongst the competition, operators will have to maintain and offer a suite of diverse payment solutions to their consumers.
• Payment technology companies such as Paramount Commerce stay ahead by adopting the latest technologies, such as machine learning and instant payments.
• Local payment solutions and innovative features will help meet user expectations and provide an easy, safe, and frictionless experience.

"9 out of 10 Canadians have used Interac and 55% of people will potentially abandon a check-out if they don't see a payment method that they want to use. Localized payment methods, the right blend of payment methods, both of those things are incredibly important for the player experience."

Sereena Boparai, CRO at Paramount Commerce

We are thrilled to have been a part of such an influential industry event. Our booth facilitated exciting conversations with merchants, partners, and industry leaders about what’s next in simplifying payments. If you missed us at the show, contact us to learn more about how payments can increase acquisition and lower costs.

Looking ahead

The 2024 Canadian Gaming Summit showed how quickly Canada’s regulated gaming market was evolving.

The conversations focused on more than market growth. Speakers also looked at consumer expectations, identity verification, technology, and payments.

As the Canadian market continues to develop, these areas will remain important topics for operators, technology providers, payment companies, and other industry participants.

Paramount Commerce participated in CGS 2024 alongside other companies and industry professionals to discuss the changing role of payments in the Canadian market.