Advantages and peculiarities of the Canadian gambling market

The gambling market in Canada differs from this industry in other countries, at least because the laws vary depending on the region. In some of them, residents are free to gamble; in others, even betting on sports is prohibited.

According to the latest surveys, about 60% of the population is involved in gambling. However, 43% regularly spend up to $20 on gambling.

Despite this, the revenues of the country's gambling sector have been declining over the last few years. The fact is that Canada's licensed casinos compete with foreign online casinos, which do not pay taxes to the treasury of Canada.

Land-based casinos bring a decent income to the state budget, but their performance is still far from ideal. Land-based casinos are developed in almost every major city in the country, and their total number exceeds 100.

In Ontario alone, there are 25 land-based casinos that enjoy high popularity. It is also noteworthy that video slots are the most popular game among Canadians.

For the past six months, all the news reports have been saying that lotteries and sports betting should soon be legalized in Canada. From a financial point of view, this is a good sign for the country because if this type of entertainment is approved, new investors and companies will come to Canada and pay taxes.

In addition, market revenues are gradually increasing due to the fact that even land-based operators are moving online (e.g., Vulkan Casino). Thus, they are trying to provide services both at land-based betting outlets and on their official websites.

Currently, the most popular gambling activity in the country is lotteries, in which 65% of gambling enthusiasts take part. Instant lotteries are in second place with a share of 36%. On the other hand, casinos remained in 3rd place, taking a modest 22%.

During the pandemic, the gambling industry in Canada showed a significant decline, so Western investors are now showing interest in it, indicating the beginning of growth in the sector. This can only be viewed positively.