In 2019 Canadian gambling revenues were over $2.8 billion, with almost half of that being produced by online betting operators. This a staggering amount based on Canada’s modest population. Montreal casino’s alone nearly produced $1 billion in revenue while Ontario gaming properties weren’t far behind.
Industry insiders actually think the real numbers are significantly higher as many Canadians choose to gamble online at international sites like CasinoChan Review, where they receive better deals and have access to a wider selection of games. Analysts say these international online sites are generating at least $1 billion in revenue from Canadian gamblers.
How Do Canadians Like To Gamble?
Canadians are some of the biggest gamblers in the world. The average Canadian spends over $800 a year on gambling which is much higher than British and Americans are betting. Only Australians, Singaporeans, and Irish can claim to gamble more than Canadians.
Canadians prefer to gamble online. Even before the government restrictions brought about by the pandemic, land-based casinos in Canada were suffering a serious decline in earnings. While their online counterparts were surging in popularity, with revenues often doubling.
From 2018 to 2019, casino earnings in Alberta suffered a sharp decline of 22%. Many other provinces suffered a similar earnings decline as and more Canadians shift their gambling to online platforms.
Online sites appeal to younger Canadians who value the comfort of being able to gamble at home, the selection of games, and the ease in which you can quickly deposit and start playing. No matter where you live in Canada, you can find action online while the nearest casino may be hours away.
What Are The Future Trends Of Canadian Gambling?
It seems like the Canadian demand for land-based casinos will never reach its peak found in the 80s and 90s. Canadians are voting strongly with their money as they flock to online platforms. It seems like this trend will continue, especially as the provincial governments are liberalizing the online gambling industry as the government wants a bigger slice of the international industry to increase its tax revenue.
Online gambling lobbyists want Canada to speed up the liberalization process and use the UK as an example. The UK does not put a cap on the number of gambling companies that can off their services to the public. Canadian lobbyists want the cap to be removed to allow more operators.
These lobbyists have argued that not only would this cause tax revenues to shoot through the roof, with experts saying the Canadian government could net an extra $500 million, but it would help gamblers who would benefit from the increased competition, which would force gambling operators to improve their service.