Survey Of The Most Beneficial Sector of Canadian Economy

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Despite the fact that Canada is not considered to be the world’s capitals of gambling, the gambling business is thriving there. The Canadian authorities are very flexible in regulating the industry, and therefore gambling in this country is becoming increasingly popular. The online gambling industry has indeed recorded significant growth and has generated remarkable revenues over the past decade, suggesting that regulation is more than necessary. The relevant question is whether the federal and provincial governments will take action to regulate the industry, or whether it will be done by non-governmental organizations.

Gambling Business in Modern Canada

As of 2016, the gambling business in Canada is developing quite successfully. At the moment, there are 114 casinos, 12 horse tracks, 1 bookmaker’s office and 8 bingo halls in the country.

Canadian casinos have 1,776 tables for card games, 220 poker tables, 57,150 slot machines. Many casinos in Canada are in no way inferior to American establishments in Las Vegas and Atlantic City.

Well-nigh all casinos operate in the province of Ontario. There are 32 gambling establishments, 666 card tables, 26022 slot machines and video poker rooms.

The Most Well-known Brick-and-Mortar Casinos in Canada

The most famous and largest establishments in Canada are Casino Niagara and the Niagara Falls View Casino Resort. They are located next to the same Niagara Falls in Ontario. These two casino hotels, which have a big effect and brings economic advantages to gaming sector, are a true embodiment of Canadian gambling industry. The casinos offer their guests thousands of slot machines and hundreds of tables with fascinating card games none could escape.

Being based in Ontario as well, the most famous Canadian horse racing track is Woodstock Racetrack and Slots. More than a hundred lucrative slot machines are located in its hall.

Gambling Legislation

According to Canadian law, player winnings are not taxed unless they are a form of earnings. This is determined by 3 factors: the skills of a professional player, the regularity of payments and the expectation of the next payments. That is, if you do not play at the casino professionally, but only from time to time, you can receive your winnings in full without deductions to the budget. So, everyone is happy!

Gambling in Canada: Statistics and Facts

Today, nearly 20 million Canadians gamble. It should be borne in mind that the country’s population is 37.59 million. Thanks to this number of players, Canada has taken the 8th place in the world ranking for online gambling.

Gambling development statistics from 2011 to 2021 shows that the niche has been relatively stable throughout the entire period. There are no big jumps or falls, the numbers remain roughly the same. Therefore, this niche permanently brings money to Canadians.

The Most Popular Types of Gambling in Canada

The most popular types of gambling in Canada include: sports betting, lotteries, bingo, slot machines and online and offline casinos. Canadians are also mastering modern types of gambling visiting top crypto gambling sites.

Land-based casinos are gradually becoming less popular: all legal gambling establishments in Canada reported a drop in revenue even before the quarantine began. For example, casino income in Alberta for 2018-2019 confirms this trend with a 24% decline in profit from offline casinos. After the introduction of quarantine restrictions, the provincial government decided to launch its own online casinos in order to somehow stay afloat and continue to earn money. The same thing happened in other provinces. Therefore, due to the shift of preferences and possibilities, locals play the games in online casinos in Canada with the best reputation.

Demography

In order to operate legally, a Canadian casino applies for a license with the local government. Online casinos are now available in every province, with the exception of Saskatchewan. However, by law, a license for such a gambling format is allowed to be issued only in British Columbia, Quebec, Ontario and Manitoba.

It is generally believed that only men are attracted to gambling, but this is not the case in Canada: the statistics of gamblers is 54% among men and 46% among women. It is worth noting that women are more likely to use mobile devices than men: 55% of all women play from their phones. In fact, Canada is the only country to see this trend.

As for the age groups, the gambling audience is:

  • 18 years old – 34 years old – 30%;
  • 35 years old – 55 years old – 40%;
  • 55 + – 31%.

 

One of the reasons gambling is so prevalent in Canada is because almost all casinos allow gambling in legit online casinos for free and for real money. It is cheaper and more convenient for Canadians to play on the Internet than in a regular casino. It should be noted that the percentage of winnings online is higher (more than 96%) than offline (less than 60%) – and this is also an important aspect in choosing a game format.

How Does Gambling Affect the Canadian Industry?

Gambling is one of the main sectors of the Canadian economy.

Canadians spend at least $ 4 billion a year on offshore casinos, but even this figure is a drop in the ocean compared to the $ 17 billion figure that Canadians spend on online gambling. Thus, the industry makes tens of billions of dollars from this GEO.

According to the Canadian Gaming Association, the business provides 182,500 full-time jobs for local residents, making the niche socially beneficial as well.

Total gambling revenue in Canada last year was $ 2.65 billion, of which more than $ 1.2 billion came from the online business. It would seem impressive numbers, but most of the income is lost due to the complex regulation of gambling.

The point is that every online casino provider must obtain a license from the local provincial government. This means that the online gambling market is not yet as diverse and large as it could be. Accordingly, many offline casinos try to capitalize on this, but still gradually lose their audience.

According to some estimates, if the Canadian government changes its approach, the government’s annual revenue could rise to $ 4 billion. When it comes to spending on online casinos per capita, Canadians spend on average more than players in the US and UK – $ 824.68 per year.

Forecasts for the Future of the Gambling Industry in Canada

As offline casinos close due to the COVID-19 pandemic, players around the world are shifting to online betting and casinos. Canadians are no exception. But don’t forget that the shift began long before the pandemic, so nothing is likely to change.

Fast, cheap and almost universal Internet access from a mobile phone makes online gambling in Canada open to almost everyone.

There are already alternatives for those players who miss the real casino atmosphere. Users can interact with a real dealer online via video streaming.

Final Thoughts

Canada is one of the leaders in the gambling industry. And although in the world ranking it is only in 8th place, according to statistics, Canadians spend more money on gambling than Americans or British.

Since casinos have been legalized in the country for a long time, the niche is actively developing and has remained relatively stable over the years of its existence. Now Canadians visit real gambling halls much less and prefer online casinos, and external events in the form of quarantine and the rapid development of technologies only contribute to change.

To successfully access this GEO and start pouring on gambling in Canada, you need to find a licensed advertiser and study the requirements of the province you want to work with. Analyze statistics and increase your earnings.

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