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What Does Gambling Bring to the Canadian Economy?

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Canada may not quite be the world power of its neighbour to the south but its economy is by no means insubstantial.

With a GDP of almost $2.1 trillion a year it stands as the ninth largest in the world, positioned between Russia, another close neighbour, and Italy.

Key sectors include mining, manufacturing and service industries. In recent years technology has also started to play a more significant part, boosted by government aid for start-ups.

There’s another booming area of business that crosses over several sectors and, in doing so, gambling competes with several other entertainment sectors.

The size of the industry

In 2021 the size of the Canadian gambling industry was $12.54 billion and it is currently showing an annual growth rate of around 12%. This puts it on a par with the film and television industry in the country, however this is not currently showing anything like the same rate of growth.

So we can expect to see an increasing gulf grow between these two very different kinds of entertainment going forward.

The growth of the industry can be put down to the fact that individual provinces are gradually starting to permit more and more gaming options under their control. In addition, the growth of online casinos and other forms of betting are also having a significant effect.

So who’s playing?

Looking into the figures, it throws up some very interesting insights. For example, it’s estimated that around 19 million adults in Canada participate in some form of gambling each year.

Looking at the gender split, men are marginally more likely to gamble than women with the respective percentages being 68.8% and 60.4%.

In terms of the minimum permitted age for gambling, the general rule across the country is that all players must be at least 19. However, as provinces are allowed to set their own limits over the activity in their particular region, this is 18 in Manitoba, Quebec and Alberta.

Digging a little deeper into the demographics, it’s households with higher levels of disposable income who tend to participate the most. However, there may be a few warning signs that the increasing interest rates and the rising cost of living may soon put more of a squeeze on this group.

The games people play

In common with most countries where betting is legal, it’s lotteries that are the big money-spinners in Canada. These are run by two organisations that cover the country, the Interprovincial Lottery Corporation and the Western Canada Lottery Corporation. Not only do the lotteries offer players the chance to win life-changing sums, they also raise around $1.25 billion a year in revenue for the government.

As already mentioned, online casinos and other forms of activity including poker games are also becoming more and more popular. As a result, an increasing number of major global operators are now offering their services to the Canadian market.

But perhaps the biggest change of all in recent years has been the 2021 ruling allowing betting on single sporting events. Canadians are very keen on sports whether it’s hockey, horse racing or football so now that many provinces are starting to permit sports gambling, rapid growth is anticipated.

Employment

Gambling also contributes greatly to the Canadian economy in a number of less direct ways beyond raising taxes and contributing to the GDP. One of these is in providing direct employment to an estimated 182,500 Canadians. What’s more, these are relatively well-paid jobs in the main with an average income of around $65,000 a year.

In total this amounts to a very considerable $11.9 billion in labour income.

This figure rises even further when you also start to take into account the many ancillary industries that also serve the gambling sector.

These are exceptionally wide ranging and include businesses across numerous specialisms. Examples include printing companies such as Nanoptix Inc. of New Brunswick who produce lottery tickets and the work apparel company Unisync Corp. which supplies uniforms for many of the 8000+ employees working in brick and mortar casinos.

Casinos themselves, and there are over 100 across the country, also provide business opportunities for everyone from food and produce suppliers to the energy companies that power them.

So, as you can see, gambling in its many forms has a very important role to play across the whole Canadian company.

As we move forward, this role is set to become even more significant offering revenue-raising opportunities for the government and employment opportunities for working Canadians.

Much will be fuelled by advances in technology and we can expect to see the online casino and sportsbook sector continue to grow and make ever-greater contributions to the economy.

And it’s also the fans of gambling who will also enjoy all of the benefits that this ever-widening choice will bring them.

 

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Blue Jays Keep The Hot Stove Burning After Massive December Moves

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The Toronto Blue Jays are certainly keeping things interesting this winter. While the calendar might say late December, the front office shows no signs of slowing down. They have already made waves across MLB with some massive acquisitions earlier in the month.

Rather than packing it in for the holidays, the management team is seemingly working overtime. Their goal is to build a roster that can truly compete for a championship in 2026.

Although there are no more signing announcements for the end of the year, the silence is likely temporary. Reports indicate that the team is actively pursuing several more roster improvements before the new year begins.

A Rotation Built To Dominate

The team made their intentions clear in early December. They successfully signed Dylan Cease to a massive seven-year, $210 million contract. This deal, which became official around December 8, instantly transforms the Toronto rotation into one of the strongest in MLB.

Moreover, they did not stop with just one big arm. The front office added significant depth by bringing in KBO MVP Cody Ponce on a three-year deal worth $30 million. This gives the team a level of stability that was missing in previous seasons.

With such dramatic changes to the roster, fans might be looking for a clear overview of licensed Ontario sportsbooks to understand how these moves have impacted the team’s championship odds. It is certainly a different looking team than the one that ended the last season.

Targets for the Bullpen and Lineup

It seems that the focus has now shifted from the starting rotation to other needs. Agents around the league note that the Jays remain “everywhere” in trade talks. The priority is now on finding high-leverage arms and position players to round out the squad.

The front office is reportedly looking at several specific targets:

  • Robert Suarez is a primary target to help lock down the late innings.
  • Luke Weaver is being considered to add veteran versatility to the staff.
  • Depth pieces for the lineup are being sought to support the core hitters.
  • Internal extensions remain a key part of the winter strategy.

Due to the heavy spending on Cease and Ponce, these next moves will likely be strategic. The team is looking for the right fit to complement their new stars.

The Future of the Infield and Management

Conversations are actively continuing with free agent Bo Bichette. Bringing him back is a major topic of discussion among the fanbase, even if no deal is imminent yet. Furthermore, the team has been linked to prospect Kyle Tucker, suggesting they are keeping an eye on the future as well as the present.

Manager John Schneider has also expressed optimism regarding his own contract extension. However, he made it clear that building the team comes first. Therefore, while the heavy lifting might seem done, the work continues behind the scenes.

To be sure, the MLB offseason is long. But the Toronto Blue Jays have started fast, and they seem determined to finish strong.

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BCU Financial: A Trusted Credit Union for the Ukrainian Community in Canada

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We wanted to know what to do if you came to Canada for temporary or permanent residence. Many Ukrainians have arrived in the country, and many don’t know where to begin their financial journey. People often turn to traditional banks, where they encounter problems due to a lack of language skills and basic understanding of Canadian financial processes. We found an alternative – a credit union in Toronto. Today, we’ll look at one of the most well-known and learn more about what they have to offer Ukrainians.

What is a Credit Union in Toronto

These organisations differ from the typical bank for Ukrainians. They offer more flexible conditions, convenient online management, and a personalised approach.

However, these organisations are just as safe and reliable as banks. Let’s look at reliability using the example of the well-known BCU Financial:

  • With over 70 years on the market. This credit union in Toronto has a dedicated client base with decades of experience.
  • Extensive experience. Indeed, over more than 7 decades, its specialists have become experts in financial matters.
  • Branches available. You can visit the office for face-to-face interaction.
  • Active in the social life of the Ukrainian community. Buduchnist Credit Union provides financial support to schools, churches, and communication centres for Ukrainian newcomers.

As you can see, such companies have stability and experience. Now let’s look at how they differ from banks in financial matters.

Ukrainian Credit Union Toronto: Differences from a Traditional Bank

Firstly, such organizations welcome a personalized approach to Ukrainians. They are more flexible when it comes to obtaining a loan. Newcomers in Canada are working on receiving a good credit history. Banks always request one when reviewing a loan application.

Secondly, you can receive advice in your native language. Most Canadian banks don’t have multilingual consultants and respond only to inquiries in English or French. If, for example, you need help with a scholarship card, you’ll have to call a translator.

Third, you’ll get more flexible and understated banking for Ukrainians. It includes the ability to submit an app online. It provides such services as ordering credit cards, applying for a loan, or opening an account.

Conclusions

Credit unions are much easier for Ukrainians to work with. They speak your language, can provide advice on finances and their specific needs in Canada, and offer flexible terms. They also provide full-fledged online banking, so familiar to Ukrainians. You also become part of the community because, as a credit union member, you are, to a certain extent, its co-owner.

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