A recent report from the Fantini Gaming Research group disclosed critical information about the gambling industry in Canada. The report was released last Tuesday, the 27th of March 2018. While it reflected a lot of valuable information – one thing is for sure. Canada's gambling industry seems to be booming with business, to say the least.
Read the article below for further details on the report, and what it means for online gambling in 2018.
Just last year alone, Canada bagged CA$17.3 billion in gambling revenue. That's a reported increase of 4.9% from 2016 according to Fantini Gaming Research.
Most of this revenue is accumulated from a number of sources – but the vast majority come from lotteries, land casinos, online casinos and charitable gambling. When compiling their data, researchers found that casinos (both land and online) and lotteries retain their position as the two most popular forms of gambling in CA.
Highest Gambling Provinces
Somewhat unsurprisingly, Ontario is by far the largest contributor towards the total revenue among all the provinces. In fact, it generated almost half the amount on its own. Specifically – it produced 43% of the total amount, reporting a total revenue of CA$7.445 billion.
This can potentially be explained by the fact that Ontario is indeed Canada's most highly populated province. However, the gambling industry is Ontario's fastest growing industry. Just from 2016 until 2017, it experienced a 12% growth rate.
Quebec comes in at second place, with a revenue of CA$3.6 billion. The report showed a 2.12% growth in 2017 – which is quite a contrast to the 12% shown in Ontario.
British Columbia cuts it pretty close at third place. It saw a total revenue of CA$3.14 billion in 2017. However, its growth rate is almost half of Quebec, at 1.36%. Again – this shows the impressive growth that Ontario is experiencing in its gambling industry.
Canada vs. US
Despite these impressive findings, the fact still remains that the U.S has a far larger gambling industry than Canada. Last year alone, the U.S generated $40 billion in annual revenue from commercial casinos (i.e. Las Vegas). Its lottery industry far outstripped this amount with a revenue of $80 billion.
However, that being said, Ontario's gambling industry is expected to grow even further in 2018. The Fantini Gaming Research report claims that this is down to the Ontario Lottery and Gaming Corporation (OLG).
The corporation has taken the decision to start privatizing casino operations. Meaning, it has already started to choose private companies to be the service providers of some of their products. In addition, in 2016 OLG also initiated a process of renovating old casinos and updating lottery technologies. The lottery, while already generating quite a bit of cash, still has a lot of potential. Especially when compared to the $80 billion it brings in the U.S.
Online Gambling in 2018
The future is bright for Canadians and online gambling this year. With investment being poured into the industry, the reach of top online casinos can only grow. This means better services and products for the CA player.
Currently, some gaming providers and even entire casinos limit CA access. But if the Canadian gambling industry keeps booming like this, it can only bring good news. And not just in annual revenue for the country, but for the player too.
Until that happens, you can still enjoy some great online casinos and online games. Click on any of our recommended casinos to get started.
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