The history of gambling goes all the way back to the Palaeolithic period when creatures like Glpyodons, Litopterna and Toxodon roamed the earth. Whilst those exotic sounding animals may have fallen to extinction, gambling has remained.
Over the centuries it has evolved and adapted to suit the needs of the audiences it has catered for. In the past couple of decades though, gambling has undergone one of the biggest transformations in its long history thanks to legislative and technological changes.
Thanks to the advancements in these areas it is now legal and easy to play a wide range of online casino games from your mobile device, laptop or PC. The rise of online gambling has not only pleased casino lovers, it has also made those smart enough to invest in the sector very happy indeed.
In this article we take a look at three of the most interesting Canadian gambling stocks to keep an eye on in 2022. Before that though, let’s take a little look at the background of the domestic gambling industry.
Canadian Online Gambling
Why is it so popular? Canada, like its southern neighbour, is one of the western countries that is synonymous with casino gambling. The Great White North is home to a number of world famous casino resorts, the most famous of which is the Casino de Montréal.
As a result Canadians are quite used to the idea of casino gambling and are well versed in how many classic table games work. This, combined with recent legislative changes that have made it easier for online casino companies to operate in the country have provided the perfect launching pad for online gambling to take off.
What types of online gambling are most popular? In terms of online gambling Canada is slightly different to the rest of the world in that sports betting isn’t the runaway leader in terms of revenue. In fact, it is slot games that are one of the most popular games, with real money slots in Canada being one of the main revenue drivers.
This is down in part to Canada’s love affair with casino gambling, the allure of slots but also the fact that many Canadians choose to place their sports wagers with foreign based online betting companies.
What is it worth? Right, let’s get down to brass tacks before we start touting advice on companies to invest in. Just how much is the Canadian online gambling industry worth? Well, in 2020 the country’s gambling market was estimated at US$15 billion showing how popular the activity is amongst Canadians.
The Three Canadian Gambling Stocks to Watch in 2022
Without further ado, let’s delve into three of the most exciting Canadian gambling stocks to keep an eye on for next year!
Although not technically based in Canada, 888 Casino is still one of the biggest players in the Canadian online gambling market and a company to keep an eye on in the coming months.
Over the past 12 months the company who are technically based in Gibraltar have made a concerted effort to muscle into the Canadian market with their tailor made Canadian site.
Whilst uptake was originally slow, more and more Canadians are now availing of the company’s online casino facilities.
In addition to that, 888 are also gunning for Canadian sports betting fans with their sister site 888 Sport. It’s a very real possibility that the company could become one of Canada’s most popular online gambling providers in the years to come.
Great Canadian Gaming Corporation
Founded in 1982 the Great Canadian Gaming Corporation started off as a small player operating a number of charity casinos in Vancouver. Fast forward 39 years and it is a company that employs just under 10,000 staff and operates scores of land-based casinos all over the country.
You may be wondering why you would want to keep an eye on a company that deals in bricks and mortar casinos, but that is the reason we mention the Great Canadian Gaming Corporation.
The last 18 months have been tough for a number of sectors. With restrictions lifting and vaccination rates climbing, expect the land-based casino industry to bounce back in the coming months. If/when it does, the Great Canadian Gaming Corporation will be one of the main beneficiaries.
Score Media and Gaming Inc
Finally, a good company with many interests to keep an eye on is Score Media and Gaming Incorporated. Before you make your decision to invest or not, here’s a potted history of the company that will help to fill in any blanks.
The Score as it is known by sports fans started out in cable sports television decades ago, before being ahead of the curve in 2005 and launching its first sports media app. Then more than a decade later when sports betting became legal in the USA, The Score was one of the first to launch a mobile sportsbook.
Based in Toronto with a history of innovation and being ahead of the curve, The Score is definitely a gambling company to keep an eye on for 2022.
With sports betting legislation changes and relaxing attitudes towards casino gaming, 2022 is likely to have plenty of opportunities for gambling providers and their growth on the stock market.