Canada's betting industry

Loto-Quebec considers introducing cryptocurrencies in the face of growing interest

Loto-Quebec president and CEO Jean-Francois Bergeron.
Reading time 1:42 min

As cryptocurrency grows in popularity not only in the gaming industry but in the world and its daily-life transactions, Loto-Quebec started to eye the possibility of offering its customers this alternative payment method. However, according to president and CEO Jean-Francois Bergeron, the corporation does not have any concrete plans for it yet. 

During a virtual presentation before the Quebec City Chamber of Commerce and Industry (QCCCI), Bergeron stated: “It will have to be in the cards for the next few years. Because cryptocurrency, I think it is a lever. Banks are becoming more and more interested in it. Governments are getting more and more interested in it”, iHeartRadio Canada reported. 

“The payment experience is not part of the thinking that organizations that have to interact with consumers are thinking about putting a lot of effort into”, he continued before Steeve Lavoie, president and CEO of the QCCC, and stated that cyprotcurrency’s place in Quebec’s gaming world is part of a broader thinking about payment methods, such as Apple Pay. 

Even though the process is still in an early crafting stage, Bergeron admitted he is clear on the role cryptocurrency could play in Loto-Quebec’s services: “We’re just having a hard time figuring out how we’re going to control this currency, like we do with all the other global currencies. I would tell you that the sheet is much more white than not white right now”. 

Loto-Quebec’s facilities are currently in their third period of closure due to the Omicron variant. While shutdowns affect revenues, Loto-Quebec stated it has been able to adapt its operations during the pandemic. 

The Montreal, Charlevoix and Lac-Leamy casinos, as well as the Quebec City and Trois-Rivières gaming rooms, will open their doors on February 28. However, the Mont Tremblant casino will have to wait until March 3 before going back to business. 

Cryptocurrencies have been a trending topic in the gaming industry, with companies such as United Kingdom-based Astro Pay having recently launched its cryptocurrency offering, and companies and customers getting more acquainted and broadening their crypto horizon. 

Ivan Montik, CEO for Curacao-licensed SOFTSWISS has even stated in an exclusive interview with Yogonet that he expects crypto “will completely outweigh traditional payments in online casinos”. 

Speaking of new opportunities in the online gambling world, BGaming’s CS Marketing Manager Katherine Puteiko stated in a recent release where the company’s projections for 2022 were detailed, that crypto projects are “an integral part of online gambling”. One of the company’s latest launches, categorized under its crypto developments, is “Space XY”.

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