Canada’s gambling revenue increases

The gambling industry in Canada posted a five per cent year-over-year improvement.

Canada.- According to figures released by Fantini Gaming Research, Canada’s gambling market has posted a strong performance in 2017. Gambling revenues in the North American country increased five per cent in 2017 to US$13.5 billion.

The numbers include winnings from brick-and-mortar casinos, the lottery, internet gambling and charitable gaming. Toronto is currently the top scorer in Canada, accounting for a 43 per cent of the entire country’s gambling revenue in 2017.

While the figures are encouraging for Canada’s industry, they’re still considerably lower than its neighbour, the United States. Las Vegas, US’ biggest gambling hub, reported US$40 billion in annual revenue, while state lotteries account for more than US$80 million every year.

Earlier this month, the British Columbia Lottery Corporation commissioned a report from HLT Advisory Inc which revealed that the province’s crackdown on money laundering casinos would take €29 million from BC’s annual budget.

The report assessed that a ban on “high limit” table gambling – in which cash buy-ins exceed €6,000 – would be catastrophic for gaming revenues, causing a reduction of up to €18.6 million in revenues. Furthermore, it projected that it would drive away big gamblers but merely get the rest of them to bet one dollar below the limit. Meanwhile, B.C.’s share of gambling revenue through the BCLC would lose an amount between €11.5 million and €29.3 million.