Canada
Exploring the Psychology of Gambling: Why is it So Appealing?
Gambling is an activity that people from all walks of life have enjoyed for centuries. Despite its potential risks, it draws in millions of participants annually. As it turns out, there are many reasons why gambling may be so appealing to so many people.
It’s worth noting that it’s important to play only on reputable gambling platforms that take security and player safety seriously. For a good rundown on the industry, a great resource is the American Gambler as it is the one-stop destination to discover the top sports betting sites, online casinos and other vital resources.
Before diving into the psychology of gambling, it may be beneficial to look back through the history of gambling, to see how it got to where it is today.
A look at the history and culture of gambling
With evidence of it being found in ancient civilizations such as Egypt, China, and Rome, it is believed that gambling has been around for centuries, perhaps even millennia. Historians believe that the first form of gambling was a game of chance involving dice, which dates back to around 3000 BC.
In modern times, gambling has become even more widespread and accepted in many cultures worldwide. Online gambling allows people from all walks of life to participate without having to leave their homes.
Decoding the psychology of gambling
Gambling has been a popular pastime throughout the ages. But why do people gamble? What drives individuals to take risks with their money? To answer these questions, one must first look at the psychology of gambling.
One of the main reasons people gamble is because they are seeking a sense of excitement and thrill. Gambling can provide an adrenaline rush that many find hard to resist. It also offers the potential for rewards, which can be very enticing.
Another factor in gambling behavior is the idea of winning back losses. Participants may feel compelled to keep playing and risk more to break even. This can lead to gambling problems, as players may become increasingly desperate for a win. It may seem obvious, but bettors should never wager more than they can afford to lose.
The impact of online casinos on gambling’s popularity
The rise of online casinos has had a significant impact on the gambling industry, as it has made it more accessible and convenient than ever before. Anyone with an internet connection can now play their favorite casino games. Unsurprisingly, this has led to an upsurge in the number of people interested in gambling.
Player psychology will continue to evolve while technological breakthroughs make it easier, faster and more convenient to participate.
ComeOn Group announced a significant milestone in its sportsbook expansion journey with the addition of sportsbook to their offering in Ontario following the successful acquisition of the required permits. This addition represents a strategic advancement in the Groups sportsbook growth trajectory where they are set to double its sportsbook business in the coming years.
ComeOn Group is one of 51 active operators in Ontario. The Ontario market has experienced robust growth since its launch, reaching C$6.7 billion in revenue in 2023.* By 2029, the market is forecasted to grow by a total of 29%, with 2024 expected to close with a 20% increase.
ComeOn keeps investing in its sportsbook business acceleration that is powered by its proprietary sportsbook platform and in-house risk management and trading team. As a multi product vertical operator, ComeOn is striving to give its customer base a safe and exciting entertainment destination and this approach is now expanded to their Ontario audience.
Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited about the opportunities this new milestone opens up for us. As a casino-led operator it represents a key part of our sportsbook strategy to double our business in the coming years. Like in any of our other markets, we are striving for a differentiated sportsbook entertainment experience that is powered by our in-house technology. Our goal is to deliver top-tier entertainment to our players while fostering safe and innovative gaming experiences.”
*Source – H2GC H2 Ontario Data 25.10.2024 (excl. Lottery)
BCLC
INTRALOT Announces New Project with the British Columbia Lottery Corporation for Online Lottery Platform
INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT Inc., its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalization of the existing land-based network.
The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.
INTRALOT is a leading player in a changing world of gaming. With significant experience in looking forward and anticipating emerging trends, the company provides future-proof solutions to regulated lottery and gaming operators around the world.
Relax Gaming, the iGaming aggregator and supplier of unique content, has significantly enhanced its presence in the Ontario market through an agreement with leading Canadian operator, PointsBet.
This partnership reinforces Relax Gaming’s aim to become a standout provider across North America, having already gained early success in Ontario. Relax became one of the first suppliers to deliver content to the region’s players in March 2022, debuting with over 120 games across multiple operators.
PointsBet pride themselves as one of Canada’s leading operators offering unmatched speed, ease of use, and a comprehensive array of pre-game and in-play sports betting options. This is complemented by a top-tier online casino which will now be boosted with the integration of Relax’s portfolio of slots and live dealer options.
With its authentic Canadian approach, PointsBet prioritises technology that minimises external dependencies to maintain control over its platform and has a commitment to responsible gambling best practices, ensuring a safe and secure environment for all players.
Martin Stålros, CEO at Relax Gaming, said: “Since we launched in Ontario we have enjoyed tremendous success, with our content hitting the sweet spot for the broad range of players in the Canadian province. This partnership with PointsBet will strengthen our presence in the market as the region’s leading operator integrates our rich content portfolio which will engage its player base.”
Scott Vanderwel, Chief Executive Officer at PointsBet, added: “Relax Gaming has established a strong reputation across North America and in Ontario in particular. The impressive range of content that will be integrated into our platform will increase engagement within our online platform and we are delighted to be able to provide more immersive experiences to our audiences.”
Established as one of the industry’s leading B2B suppliers, Relax Gaming was awarded GGA’s Product Launch of the Year in February 2023 for Dream Drop Jackpots. Money Train 3 names the 2023 CasinoBeats Game Developer Awards amongst its 6 Slot of the Year titles, while the brand also won the award for Skill Games Supplier at the 2023 EGR B2B Awards along with the Innovation in Mobile award at the 2023 SBC Awards.
Relax Gaming provides more than 4,000 online casino games, from its high-performing proprietary slots to a significant, varied library of content from hand-picked third-party studios via its partnership programmes.
Week 46/2024 slot games releases
AGREEMENT BETWEEN ZITRO AND GRUPO OSGA TO PROMOTE THE LABOT INTEGRATION OF PEOPLE WITH DISABILITIES
EGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers
Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)
BetMGM and Vegas Golden Knights Announce Multi-Year Partnership Extension
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