This week, Casino Canada released a report with insights into the current and future potential of Canada’s gambling industry in 2023. It features a comprehensive analysis based on market history, regulatory landscape, and important trends in the local gaming industry. Last year alone, the local sector provided more than C$15 billion in revenue.
In the last two years, Canada has made some serious developments in gambling. Starting with the federal government’s legalization of betting on domestic sports as a single event in August 2021, this essentially paved the way for Ontario’s open private operator eye-gaming market, which has attracted a lot of attention from third-party gambling brands.
Last year, the country’s gambling industry contributed more than C$15 billion in revenue, providing jobs to more than 135,500 people. This latest study from a team of gaming experts at Casino Canada provides valuable insights into the performance of the market in numbers as well as the factors that drive the growth and evolution of the market in the near future.
Some of the report’s key findings include that the Canadian gaming industry provides approximately C$9 million in annual revenue while supporting numerous programs and services from governments and communities. Regional industries were valued at C$12.54 billion in 2021 and lottery sales were the main revenue stream, but this will change quickly.
In addition, around 18.9 million people in Canada indulged in gambling in 2022, with 95% of players counted as problem-free gamblers. Slots and bingo have been the most popular types of online gambling in the United States, and the introduction of more gameplay can explain the industry’s growth.
Dmitry Rogalchuk, the game site’s head of content, noted that the 2023 Canadian gambling market overview provided important insights to industry stakeholders, policymakers, and users. He believes that an analysis of current market trends and future prospects will help industry representatives explore fast-developing sectors.
One of the main reasons for the recent expansion of the Canadian sector was the iGaming framework for Ontario and private operators. iGaming Ontario recently released its report on the market for the fourth quarter ended March 31, 2023. In the quarter, the regional betting firm set more than C$13.9 billion in total bets, converting total gaming revenue to C$526 million.
However, the Alcohol and Gaming Commission plans to make some changes to the bombardment of markets and sports betting ads. In April, regulators proposed banning celebrities from participating in such ads. This will apply to sports stars, cartoon figures, symbols, role models, social media influencers, celebrities, or celebrities who are usually attracted to young viewers
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