Thursday, 27 April, 2017

A Look at the Growth of the Canadian Online Gambling Market over the past 10 years

A Look at the Growth of the Canadian Online Gambling Market over the past 10 years A Look at the Growth of the Canadian Online Gambling Market over the past 10 years
Howard Terry | 16 May, 2016, 12:28

The Canadian gaming industry is one of the largest entertainment sectors and also one of the biggest providers of employment in the country.  The industry generates more revenue than the television and movie sectors, as well as outpacing the combined figures of magazine and book sales, spectator sports, and performing arts. Over the past 10 years, one area of the gaming industry that has done particularly well is the Canadian online gambling market which has driven revenues in the sector to well over a billion Canadian dollars year on year.

With a rapidly evolving e-commerce environment that contributes billions to the countries revenues in taxes, online gambling is an important sector in the Canadian economy, here’s a brief look at its growth over the past 10 years:

How Online Gambling has grown in Canada

Online gambling sites were prohibited from operating in Canada until 2009, although those who wished to could place wagers on offshore websites. Currently, the average age of those who take part in online gambling in Canada is estimated at just over 35 years old while the average household income of users stands at around 78 thousand dollars. 

There are now several online gambling sites operating in the country including Bodog, owned by Canadian billionaire Calvin Arye. Gamblers can also play at Royal Vegas, the best real money casino for Canadians that has recently contributed to the sector’s growth. In addition to easier accessibility, online gambling attracts frequent internet users who take part in a wider range of activities when compared to traditional brick and mortar casinos.

Legalisation of Online Gambling In Canada

After online gambling was legalised in Canada in 2009, every province in the country is now allowed to license and regulate online gambling sites set up in its jurisdiction. The first province to open an online casino was British Columbia in July of 2010 followed by Loto-Quebec in December of the same year, and Manitoba in January 2011. Canada also has an entity that operates the servers and looks to regulate most of the online casino market inside the country called the Kahnawake Gaming Commission. The KGC also carries out similar functions for other online gambling operators from around the world.

Conclusion

The Canadian online Gambling market has come a long way over the past 10 years and looking forward, that growth looks set to continue as the industry matures. In what is now a regulated and organised market that is yet to reach its full potential, the British Columbia, Loto-Quebec and Manitoba lotteries are also members of the Canadian Poker Network, Canada’s first regulated Poker Network. All these factors are the right ingredients for a growing industry that looks set to continue contributing billions in revenue and thousands of jobs to the Canadian economy for many years to come.

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