Gambling is among the most profitable markets in the media and entertainment industry, and this is no secret. Whether we’re talking about land-based casinos or online casinos, which are growing in popularity every day (see more here), the gambling industry has never had this much prominence before.
This resonates even more in the Great White North, though. According to statistics, six in ten Canadians engage in frequent gambling, with 3% of them ponying up to $100 every month. So how much money are these gaming activities making? We’ll take a look at that in this article.
Value of the Canadian Gambling Industry
Sports betting, casino games, the lottery, or bingo are all popular forms of gambling in Canada. The Canadian Gaming Association estimates that the nation generates up to $33 billion in revenue from gambling alone each year, for a total of around $13 billion.
This number is anticipated to increase significantly over the next several years because of the exponential growth that online betting is currently experiencing.
According to experts, the government might increase its revenue even further if it adopted the USA’s model and relaxed its strict regulations on internet gambling. Most gambling investors are reluctant to create betting venues in Canada since the legislation stipulates that gambling providers throughout the country must receive a provincial permit before they are authorized to function in any province, which leads to a reduction in potential revenue.
However, Canadians spend an amazing $826 more per person than Americans do on gaming each year, which is still greater. Canada takes its place as the 8th nation on the planet in regard to the amount of money gambled thanks to its 200+ land-based casinos, over 70,000 gambling machines, and more than 32000 lottery terminals.
Common gambling methods in Canada
The days of dreaming about going to a land-based casino are long gone. Like with the rest of the civilized world, Canada is gradually shifting away from land-based casinos and toward internet ones. The appeal of physical casinos had been declining in favour of internet gambling before when the pandemic struck in 2020. The majority of people choose to access the internet, choose a casino with the aid of a Canadian online gambling guide, and begin playing. According to statistics, the majority of Canadians who gamble online choose to wager on sports.
Nevertheless, the lottery is unquestionably the most popular form of gambling overall, with about half of the population partaking in lottery games annually. Scratch cards and raffle games are popular and close in second place. Traditional slot games, like baccarat, roulette, poker, and blackjack, come next. Canadians also enjoy playing slots regularly.
Data on gambling based on income, age, region, and gender.
According to federal statistics, there is a significant difference in Canadians’ gambling preferences that correlates with their age, area, gender, and economic level. For instance, women are somewhat less prone than men to ever bet. Contrary to men who bet 63% of the time, only about 57% of women do so.
Additionally, women are more prone than males to wager on their smartphones, and they tend to choose scratch cards or bingo. Men also spend, on average, more cash wagering than women. Women often spend between $1 and $20 on it each month, although men are more prone to spend between $20 and $100.
Interestingly, while Canadians with salaries exceeding $55,000 spend less on gambling, individuals with earnings between $25,000 & $55,000 do so more. People who make less than $25,000 a year typically don’t gamble.
Canadians from the ages of 35 to 54 are more likely to gamble. While younger adults in their college years frequently prefer internet slots and casino games, older folks are more inclined to play real slots.
Additionally, older persons are marginally more prone to gamble.
Quebec has the strongest gaming prevalence in the nation, even though Ontario has by far the most gambling establishments. Gambling is least likely to occur in Saskatchewan and Manitoba.
Considering that only roughly 38 million people are living in Canada as a whole, the amount of cash spent on gambling annually is astounding. Few nations even begin to compare the per capita gambling revenue produced in Canada. Only Ireland, Singapore, and Australia have higher annual gaming losses per adult than Canada, which is $568. Canada is the epicentre of gambling in North America.
Unquestionably, many Canadians have a particular place in their hearts for gambling. Even though more than 50% of the population regularly gambles, gambling addiction is not a big concern because government organizations are attempting to prevent gambling addiction.