Online Gambling Revenues in Canada - $2.4 Billion for 2024
The online gambling industry in Canada saw revenues of $2.4 billion for 2024. Players across all provinces have been enjoying online gambling it seems. Cutting edge technology along with games that are captivating audiences have helped revenues soar.
Recent changes in gambling laws along with competitive licensing models have all help the industry grow and Ontario has been a huge player in creating this record-breaking revenue. The number of licensed and regulated iGO sites continues to rise with more than 51 operators now holding a license to legally offer casino games and services. Legalizing popular offshore operators has proven to be a success and one that benefits the players and the government.
How Other Provinces are Doing
Unlike Ontario, many of the other provinces still have government controlled sites such as Loto-Quebec, PlayNow in British Columbia, Manitoba, and Saskatchewan, and Play Alberta in Alberta. These are government operated sites and when compared with the range of licensed operators available in Ontario, can seem quite limited. They do have significant revenues though.
- Loto-Quebec : $403.9 million in gaming revenue for 2023/24.
- Play Alberta : $170 million in net sales.
- Atlantic Lottery Corporation : $872.7 million in gaming revenue.
- PlayNow Sask : $5.4 mmillion.
- British Columbia Lottery Corporation : $476 million.
- PlayNow Manitoba : $75.4 million.
Is Problem Gambling on the Rise in Ontario?
Quarterly figures have more than quadruples since the launch of iGaming Ontario (iGO) but there is still little data available on how this has affected Ontarians and it is felt that an independent research body should be established to monitor the situation. The profits made from iGaming come from player losses and this can mean that there is an increase in problem gambling.
Statistics from 2018 showed that around 1.1% of Ontarians experienced problem gambling but this could now be closer to 9% since the advent of regulation. There has also been a rise in the number of calls the Ontario Problem Gambling Helpline has been receiving. As of yet, there has been no funding allocated for independent research to be carried out.
Problem gambling is a big concern, but until proper data is compiled and made available, it is unclear whether or not the issue has seen the increases suggested. We will have to wait to see if the government allocates funding for independent research.
Factors Influencing the Growth of Revenue
By far the biggest money makers are online slots coupled with no deposit free spins bonuses that allow players to try out these games without having to deposit their own money. In Ontario, 75% of the gambling revenue was generated from slots, table games, P2P bingo, and live dealer games. P2P poker only generated 2.4% of the revenues.
Another influencing factor is the ease of accessibility of online casinos. Players are no longer tied to desktop computer and everything can be accessed via smartphone and tablet also. Many of the top brands also offer a diverse range of games and welcome bonuses and regular promotional offers help to attract players and retain them.
Machine learning AI is being integrated at many online casinos to provide players with a more personalized experience. Blockchain technology is another factor and players can use cryptocurrencies for faster and safer transactions. Crash games like Aviator are a massive hit and these fast-paced games use innovative concepts that appeal to the younger generation of players. Online slots are becoming even more feature packed and casinos are also adding tournaments, achievements and other gamified incentives.
