Certain Canadian provinces are a great example of how a strong iGaming sector can be a boon to a state economy. In the spring of 2022, Ontario opened up its floodgates to a slew of gambling brands. They created the list of operating requirements and a revenue-sharing model that brands had to adopt to legally offer their services.
In just one year, the province has witnessed a record-breaking profit of $2.4B in online gambling revenue. So, let’s compare their success to the achievements of other provincial regulators. We’ll discuss what Internet gambling will look like going forward and speculate on upcoming trends.
Availability of online gambling options in Canada
Although Canada has always had a liberal stance on this form of entertainment, we didn’t see a massive market shift until iGaming Ontario entered the picture. This regulator took a bold approach by opening its doors to offshore brands that were already popular among Ontario gamblers. This has made gambling on those sites safer, and it also made it possible for the provincial government to reap some financial benefits that we pointed out at the start. The current list includes 51 operators and 83 gambling websites, and it is poised to welcome new brands.
Other provinces do not extend the same freedom of choice to their players but still embrace the growing demand for internet gambling. In essence, they have government-run sites like Loto-Quebec, PlayNow (in British Columbia), and Play Alberta (managed by AGLC). Furthermore, the Atlantic Lottery Corporation (ALC) website is live in New Brunswick, Newfoundland Labrador, Nova Scotia, and Prince Edward Island.
Provinces like Nunavut, Yukon, and the Northwest Territories also have a solid player base but they don’t have a regulated online gaming market. However, there isn't an explicit law that prohibits Canadians from gambling on licensed offshore casinos.
How provinces are performing in 2024
Now that we’ve painted an accurate picture of where each province stands let’s see how they are performing revenue-wise. iGaming Ontario released a market performance report for the first two quarters of the 2024/25 fiscal year. The gaming revenue for Q1 was $726M and $738M in Q2. For context, this is a 30% increase year-over-year.
https://pechanga.net/canadas-online-gambling-market-records-billion-revenue-in-p53797-195.htm