Online Gambling Canada Predicted To Hit $8Bn
Posted on March 18, 2021 at 12:03pm
Boston based iGaming mega-corporation DraftKings has made a bold claim. Namely that the sports betting and online gambling Canada industry will generate a combined $8 billion. The prediction comes in relation to iGaming legislation moving forward in Ottawa, which will finally fully legalise the local industry and push it forward into a new era.
DraftKings, as one of the biggest players in the industry, does not yet have any investments in online gambling Canada. But, based on the positive statement, it seems as if the American giant may be eyeing potential future opportunities.
Company chief executive officer (CEO) Jason Robins elaborated on his thoughts.
Robins stated plainly that this time last year he had little to no interest in either online gambling Canada, or sports betting Canada. But, he explained, his interest is now quickly growing, specifically due to the support for Bill C-218. The recent Ontario budget speech was also favourable towards the Bill, he elaborated, further demonstrating that the country was moving towards rapid regulatory change.
He went on to declare that online gambling Canada, and local sports betting as a whole was quickly becoming very exciting. His conclusion was that Canada was now a top 10 region of interest.
Such positive words from the DraftKing’s CEO certainly seems to indicate that the country has a bright future. But more so a recent study performed by Deloitte Canada, which put into perspective just how lucrative the opportunity really is.
Deloitte Canada published the findings of their study, and the numbers are nothing short of staggering. It was estimated by the organisation that Canadians could eventually be spending as much as $28 billion annually on sports betting and online casinos, which is certainly a number that will make the industry sit up and take notice. Additionally, the company stated that around 64% of the population will eventually have direct access to online gambling.
Though, it should be kept in mind, these statistics are based on an eventuality that will come years after legislation has been passed. Although there is great potential, the most important official steps towards this future have yet to even be taken.
Either way, in a final statement from Robins, he mentioned that even getting into the online gambling Canada market will be a challenge. When asked to explain why, he stated simply that the already existing grey online casino operators have been blessed with the early-mover advantage.