Data analysts predicting a lucrative future for Canada casinos online and on land.
Statistical data collectors and industry experts agree that there’s plenty of room for growth when it comes to gambling in Canada. The nation is home to both local and luxury casino resorts, federal and provincial lotteries, countless charitable gaming facilities, a modest sports lottery, and even caters to online gambling enthusiasts.
In 2009, the Canadian gambling market generated approximately $13.5 billion in revenue. The latest report from Fantini Gaming Research, detailing collective gambling revenue across the country in 2017, reveals a significant rise in yield, up to $17.3 billion; a 28.1% increase from nearly a decade ago, and 4.9% increase year-over-year.
Viability of Canada Casinos Online
Only four provinces regulate online casinos, each experiencing a strong performance in 2017. They include British Columbia, Manitoba, Ontario and Quebec. However, disseminating the value of each provincial iGaming sector can be difficult.
In British Columbia, online gambling revenues are lumped with a very lucrative state lottery, making it difficult to assume how much of that money came from iGaming. Manitoba’s internet gambling services are provided by and through the B.C. online casino. Therefore, they aren’t reported in any meaningful way that can be accurately, or even remotely, sequestered.
Ontario and Quebec, on the other hand, segregate all gambling revenue into nice, neat little categories. Not only does it give us a bird’s eye view of their market growth and sustainability, but could help us to determine the range of value in B.C.
Ontario reported online gambling revenue of $49.170 million in 2017; a vertical leap of 485.5%% over last year’s $8.398mm. Quebec reported similar earnings of $45.754mm in 2017, up 28.6% YoY.
To get a probable markup of B.C.’s iGaming revenue, we can assume that it’s performing along the same lines of Ontario and Quebec. If we combine their lottery and iGaming sales, we find that Ontario’s iGaming makes up 1.28% of the total, and Quebec 2.44%. Using the median and high-end value, we can estimate that British Columbia’s online gambling market generated an approximate range of $23.91-$31.366mm.
Collectively, that puts Canada’s online gambling market, from just three provinces, at a value of about $122.56 million.
Ontario Leads the Charge is Gambling Revenue
It’s worth noting that Ontario’s gambling market is growing at a much faster rate than any other in the country. In fact, Fantini researchers point out that, without Ontario’s rapid increase, the nationwide boost in YoY revenue would be negligible. Of the total 4.9% growth experienced across the country, Ontario’s rate jumped 12.09%. B.C., Manitoba and Quebec saw minimal increases of 1.3%-2.7%, while the Atlantic Lottery Corp (serving New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island), Alberta and Saskatchewan saw revenue drop 2.9%-6.4%.
The ALC’s loss of 2.9% will, no doubt, reinvigorate the regulator’s push to join Canada casinos online. ALC has lobbied for it\s provincial umbrella to institute more than lottery sales via the internet for years now, but has never managed to get enough politicians on board. The fact that only provinces with iGaming regimes saw a boost in YoY gambling revenue just might be enough to garner the support they so desperately need.
