PlayCanada: Online Casino Revenue Will Dwarf Online Sportsbooks
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PlayCanada.com analysis shows that online casinos will be a far bigger winner for Ontario after April 4 launch. Online casino betting drove 153% more operator revenue and 339% in tax revenue than sports betting last year in U.S. markets where both are legal. Ontario plans to open to private online casino and sportsbook operators on April. 4.
Online casino betting drove 153% more operator revenue and 339% in tax revenue than sports betting last year in U.S. markets where both are legal. Ontario plans to open to private online casino and sportsbook operators on April 4. It will be the sixth jurisdiction in Canada and the U.,S to legalize and regulate both online casinos and online sportsbooks.
In 2021, online casinos in New Jersey, Pennsylvania, Michigan, and West Virginia produced $3.8 billion in gross operator revenue. In the same year, sportsbooks in the U.S. produced only $1.5 billion. Sports betting was legal in five times as many states last year. Michigan's online casino revenue was 281% more than the $292.2 million that sportsbook operators made. In Canada, the disparity between online gambling and sports betting is instructive for regulators.
Online sports betting operators produced $3.8 billion in gross operator revenue. Meanwhile, sportsbooks produced (U.S.) $222.4 million in state and local taxes.
