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Published by Programme B
The gambling industry is one of the highest income recording industries in the world. People love to gamble and play real money games to blow off some steam, others do it as a profession too and the amount of money made is mind-blowing.
We all know Canada is a major player in the gambling industry as some of the most popular online gambling companies are from there. The companies offer the best online casino games which can be found on this page.
With popularity comes the population, millions of people spending at least an average of over two dollars. But how much money is made in the Canadian online gambling world? The following is a small breakdown to help understand.
The estimate for the total net worth of the Canadian online gambling industry is around 31 billion dollars, according to multiple sources. Gambling is considered the biggest form of entertainment in Canada, ahead of film and television, and sport.
The online gambling industry in Canada
The other two forms of entertainment in Canada are more widespread in the country than gambling. For instance, most families can access televisions, while hockey stadia sell out. However, the income the two bring put together is just over half of what the gambling industry is currently worth.
The sports industry, which includes hockey, soccer, skiing among others, averaged a total of 8.9 billion dollars, while films and TV brought in about 9.3 billion dollars. The two put together total up to around 17 billion dollars, half a billion more than half of what the gaming industry as a whole, which includes the gambling industry brings in. The staggering figure is well distributed among general gaming, online casino games like poker, which is the most played, among others.
Sources of the income
An analysis has been done before to break down how the money comes in. The first major stat that is shocking but encourages more people to gamble, is the fact that the average annual earning of a gambler in Canada is and around 75,000 dollars.
This is almost 20,000 dollars more than the average working person who does not gamble. This difference alone is reason enough for one to spend more money on gambling and online casinos because it gives back more than enough.
Additionally, compared to other online gambling areas around the world, 75,000 is way more than the average yearly income of a person in gambling. This just proves that gambling in Canada is on another level, thanks to its strong economy.
Another reason why the online gambling business in Canada is booming is the average age of online gamblers. In Canada, the average age of a gambler is 35 years, which is very young compared to other parts of the world. This proves that online gaming and gambling are becoming more appealing to the younger generation in the country, and they are invested in it.
Most of the online gamblers in Canada are male, summing to a percentage of around 82%. This figure is shocking because, in other countries and regions like the United States, it is women who tend to be more attracted to online gambling. This just shows that most families in Canada, especially the young ones, are fed and taken care of by online gaming and gambling.
The final stat in the study, which is a bit shocking, is that the online gamblers and gamers in Canada are more educated than their compatriots that do not gamble.
This accounts for a few important things. First, it clears up the stereotype that gamblers are not learned and do not have real jobs or businesses. Also, most importantly, it means that the gambling people most probably know when to stop, and have the knowledge about the adverse effects of gambling, online or not.
There are many different reasons why the online gambling society in Canada is as big as it is, and here are some of them.
1.Wide variety of games
This is a major factor because whether you are gambling for recreational purposes or professional reasons, the variety of games has to be appealing to you.
There are over 300 different games for players to pick from. The games vary from poker games, DC comic universe-based games that either have a storyline or betting scenes, among other types of games.
2. Security
Canadian gambling sites value their privacy and security because that is the main reason why the world trusts them. A secure system where a person’s personal information is kept safe is very crucial. The personal information can be how much they spend on gambling, the amount of money they are making, and how much of their time they are spending on the sites.
If such information is leaked, people could be blackmailed into paying large sums of money. Given the high profiles of people who visit the online casinos, no amount of security can ever be too much. Also, different provinces in which the casinos are under ensure their players’ information is safe.
3. The industry is still growing
The gambling industry has been around for a while but it is still expanding and broadening into a wider spectrum. Since gambling took over as the biggest source of entertainment in the country, more people are paying attention to it and investing there.
Soon Canada will be the number one country in online gambling and go clear of its competition like the United States of America. This will only mean that the annual income in online gambling will sky-rocket as well.
4. Taxation
Another reason why online gambling is very productive in Canada is that if you are playing for fun, there are no taxes involved. Only professional players are taxed and it is relatively fair by the Canada Revenue Agency.
Conclusion
The facts and stats prove that online gambling is the biggest earner in the country, making it very essential to the Canadian economy. Also, the industry is still growing and will only continue to blossom. Always remember to gamble responsibly and know when to stop if you are doing it for fun. It can be addictive and should only be played by people of the right age.
Photo by Daria Nekipelova from Pexels