What are the Canadian Gambling Market Perspectives for 2022?
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20 million Canadians bet on the lottery last year. Ontario is about to allow international betting sites to operate in the province. The recent legalization of single-game sports wagers will put Canadian bookmakers on a level playing field. By 2026, Ontario will become one of the biggest online gambling markets in North America along with New Jersey, Michigan, and Pennsylvania. For some of these reasons, the industry is experiencing a boom. In 2022, analysts estimate that licensed online betting in Ontario could generate close to a billion dollars. It is also estimated that by 20 26, gross revenues of about $1.86 billion will be generated.
The online gambling industry in Canada is projected to see significant growth over the next few years. Opening up Canada to online operators will bring a lot of jobs. Ontario and the other provinces and territories should introduce competition to the industry. It will be worth the wait for Canadian online betting enthusiasts and for the whole industry as a whole.
