The online casino industry in North America (including both the United States and Canadian markets) is experiencing a boom that is predicted to continue growing year on year, according to the latest reports and figures released by related parties. The latest figures and predictions attest to this fact. One such example is that recent reports showed that Loto Quebec had total revenues of C$656.1 million for the first quarter of 2019. That made for a consolidated net income of C$337.4 million over the same three month period. And that’s just one of many similar success stories being reported across the North American iGaming industry. Plus, if we separate out just the revenues that Loto Quebec generated from online lottery and casino games grew by an astonishing 23.8% in one year – that’s C$5.6 million in extra revenue.
To give you a handle on the bird’s eye view of the online gambling industry across the whole of the North American continent, it is estimated that there are now more than 1,000 commercial casinos in the US, Mexico and Canada combined. These companies generate around C$29 million in revenue each year. So, there’s simply no other way to describe the industry as a whole but to say that it’s very big business indeed. And these figures do not even include online casinos, as the United States is still in the process of legalizing online casinos on a painfully slow state by state basis. However, another important figure from the Loto Quebec reports in Canada suggested that casinos grew revenues within the state again with another C$2.1 million being added on to the previous year’s total over the same amount of time.
Furthermore, leading research company Zion Market Research recently published its rather wordily titled ‘Online Gambling & Betting Market by Game Form (Poker, Casino, Sports Betting, Bingo, Lottery, Horse Racing Betting, and Others) and by Component (Hardware, Software, and Service): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024’. This report predicted worldwide revenues from online gambling and betting to reach a massive C$1.25 billion by 2024. It only remains to see how much of a market share goes to Canada.
All this healthy growth is good news for players based in Canada who want to either bet on sporting events from around the world or else relax and unwind with a few rounds of slots. To illustrate just how much demand there is in the US alone, it was recently reported by the American Gaming Association (AGA) that some 38 million America adults planned to bet on one or more National Football League (NFL) events in 2019 – that’s a whopping 15 percent of the population aged 18 or over and only one sport was included in the surveys.
The ever growing list of new licenced online casinos and sportsbook operators in North America has encouraged more and more of the population to consider making a wager every now and then. In another survey, for example, seven million Americans said they will make a bet at a legally licenced land based sportsbook casino this year (an increase of 1.2 million compared to 2018), while many millions more plan to place bets online, with friends or inside pools.
In short, then, the iGaming industry continues to boom across the North American continent, giving Canadian, American and Mexican players even more agency over where they choose to play slots, table games or live casino, or otherwise where they wish to place bets on sporting events like the NHL, NFL and NBA.