The Impact of Gambling on Canada’s Economy
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Canada’s gambling industry is huge and it is creating a big impact on the country’s economy. At this time, there are more than 30,000 lottery centers, 96,000 electronic gaming machines, and 70 casinos. Even way back in 2010/2011, the revenue from gambling stood at an impressive $13.9 billion, which is, of course, much higher now. Thousands of people are already employed in the gambling industry. On average, Canadians are spending $6.75 each month on gambling, which is the world’s fourth highest. 57% of women and 63% of Canadians report they gamble every month.
Historically, gambling revenues in Canada have come from land-based casinos and lottery centers. Online gambling was not legal. In recent years, however, the country has started to embrace internet gambling. For example, Ontario has legalized online sports betting only recently. But, online casinos are still illegal in the North. Many gambling platforms for Canadians are based abroad and there are no restrictions for the residents to play at an offshore gambling website.
Ontario was the first province that opened up to foreign-based casino operators. The province allowed them to apply for a license so that they could offer their games to the residents of Ontario.
Canada’s Online Gambling Scenario
It is much like what you will find in most other countries. The games played are what you will expect in most online casinos like roulette, slots, baccarat, blackjack, poker, and others. You will also find various bonuses in the form of codes. The No-Deposit bonus is particularly attractive as it allows newbies and even seasoned gamers to try out an online casino website without having to invest money at the start. It is always good to find out whether you are enjoying the games before investing money.
There are already many online gambling websites meant for Canadians. You will find some of the best online casinos in Canada here. They all stand out because of their high payout rates, security features, ease of doing, transactions, multiple ways to deposit and withdraw money, privacy, range of games, and attractive bonuses and rewards.
How Gambling Impacts Canada’s Economy
Gambling’s impact on the country’s economy has been huge. It has generated lots of revenue, created both direct and related jobs, and has even boosted Canada’s economy. The economy is sure to improve even more if the authorities fully legalize gambling and promote it throughout the country.
- Casinos generate plenty of money – Canada’s gambling industry is extremely profitable and even competes with many large businesses. In fact, the country’s gambling market is already valued at $12.5 billion as many residents like to play casino games as a hobby. According to a report, more than 60% of Canadians are presently gambling every year. To make it safe, the authorities are promoting safe and responsible gaming, which is encouraging as it reduces the risk of gambling addiction.
- Gambling is promoting tourism – Casinos attract many people, including tourists, wanting to enjoy a good time. A province like Ontario, for example, has many casinos and is also one of the most popular holiday destinations in the country. There are many such others. Coordination between tourist businesses and the casinos will certainly be good for both sectors. For example, many tourists will visit the casinos, while international gamers won’t want to miss out on the most popular attractions and activities. As a result, there will be higher revenues for both of them.
- Gambling is creating employment – The gambling industry also creates plenty of jobs. According to a study, 135,000 Canadians are directly employed in the industry, as casinos need employees to make sure that everything runs safely and smoothly. With so many people employed in the sector, gambling is one of the biggest employers in the county. This is economically significant as so many people are employed in both land-based and online casinos. In the future, surely, more Canadians will find jobs here. Of course, gambling also helps the hospitality industry, especially the hotels and restaurants that are located close to the casinos. The car rental companies also do brisk business.
There are many iconic land-based casinos in Canada. Quebec has Casino de Montréal and Ontario has the Niagara Fallsview Casino Resort. These two are also popular entertainment hubs, apart from offering many interesting and exciting casino games. There are other places too like Caesars Windsor Hotel and Casino, Casino Rama Resort, River Cree Resort and Casino in Alberta, Northlands Park Racetrack and Casino, and more.
Beyond the games, these brick-and-mortar casinos also offer luxurious accommodations, gourmet dining, and live performances.
Online casino gaming in Canada goes back to 1994 with InterCasino. JackpotCity Casino arrived in 1998. Many others arrived on the scene in the early 2000s because of improved technology, safe online transactions, internet penetration, and high-speed connections. However, most of these platforms were not regulated.
In recent years, there has been a definite shift towards online gambling as Canada opens up and legalizes internet gaming with money. There is no surprise here as globally many gamers now prefer to play online. They can play anytime they want and don’t have to travel. They can also save money on food bills and hotel accommodation.
