Sports Betting In Canada Faces Potentially Uncertain Future
Online gambling is growing at a phenomenal rate with reports suggesting that by 2022 the market will be worth a whopping $82 billion. Canada is one of 80 nations which have legalised online gambling and is particularly popular with the younger generation.
The industry has grown exponentially over the last few years both online and offline, with casinos across British Columbia enjoying big numbers. That’s backed up by another casino being given the green light by the BCLC, which will see a brand new casino land in Delta.
That’ll include 500 slot machines alongside table games and an all round entertainment centre, marking a profitable period for the industry in Canada. That’s right across brick-and-mortar, desktop and mobile gaming with apps becoming a bigger and bigger part of the industry.
There are dozens of major bookmakers and casinos offering apps these days and you can click here to uncover just how many they are. Many have established them globally, and with our neighbours in the USA now beginning to legalise online gambling in certain states, an $82 billion forecast could grow even further.
The number of people gambling via their smartphone or tablet grew 51 percent last year, with a significant increase expected again this year.
In the USA, the novelty of doing so in the likes of New Jersey, New York and Delaware is contributing significantly to this.
However, online gaming in the USA could well start to impact the industry in Canada and the casinos with their roots in British Columbia. In Canada, online betting is only allowed via legal provincial sports betting companies and many are concerned the legalisation in the eight states south of the border, as well as the many others beginning the process, could leave Canada lagging behind.
It’s estimated that around $500 million is spent on these in the country but it’s also estimated that $10 billion is also being spent in offshore online sportsbooks. Paul Burns, president of the Canadian Gaming Association, believes more gamers could follow to US outlets if Canada doesn’t change quickly. He said, “It’s unfortunate that Canadian Parliament has had a couple of chances to modernize our gaming laws but chose not to.
“Provinces requested a simple amendment to our criminal code seven years ago, which would have provided greater regulatory oversight and control to sports wagering to protect consumers, athletes and the integrity of sport. This request has fallen on deaf ears.”
It’s a damning statement and Burns believes it could prevent tourists visiting Canadian casinos, particularly those living on the border. Canada will have to keep up with the US if it’s own gambling industry is to progress at the same rate as the rest of the world. It’s certainly going to be an interesting few years. Last year the industry was worth around $17.3 billion, that will grow in 2018, but should the industry continue to grow rapidly in the USA in 2019, that it could well stagnate.