Canadian Revenue Stagnant, May Increase With Online Gambling

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Those opposed to gambling in Canada are pointing the the revenue figures compiled by Statistics Canada as a way of showing that the gambling industry remains stagnant at a time when more revenue is needed. The pro-gambling groups, however, are pointing to upcoming online gambling as a way for the figures to spike.

In 2009, Canadians contributed $13.75 billion to net gambling revenue in the country. That figures is on par with the 2008 figure of $13.68 billion. The figures released by Statistics Canada show that Canadian gamblers are consistent in their spending.

In 2010 and for the next couple of years, that figure may jump thanks to a quickly growing online gambling industry. Several provinces have already approved Internet gambling, and others may soon do the same in the months before 2010 ends. That could lead to massive revenue numbers in the future.

"The revenue figures for Canada are already strong, but when online gambling is added to the equation in the next few years, that figure is going to go through the roof," said Gaming Analyst Steve Schwartz. "Already, the difference can be seen just in British Columbia."

The British Columbian government approved Internet gambling and the B.C. Lottery Corp. launched PlayNow.com earlier this summer. The site has some security issues early on, but they have since been fixed and the site has been re-launched. Thousands of residents have enjoyed the online gaming in the past couple of weeks.

Alberta, Ontario, Saskatchewan, and Quebec are all considering a move towards regulated online gambling. Newfoundland has been one of the few provinces that has said they will not regulate Internet casinos. Newfoundland is also one of the few provinces that does not have problems with their budget.

Canada's neighbors to the south, the US, may soon enter the online gambling market as well. Representative Barney Frank is leading a charge in Congress to overturn the current US laws regarding Internet gambling, and set up a regulated system that protects US gamblers against unregulated sites.

September 4, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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