Canada’s online gambling industry reached a significant milestone in 2024, with revenue soaring to $2.4 billion, surpassing all expectations.
Initially a niche market for a few people in the Canadian space, online gambling has grown into a mainstream entertainment option, catering to millions and raking in substantially more. Recent changes and adjustments to gambling laws in the country have paved the way for a broader audience to enjoy the activity.
In 2021, single-event sports betting was legalized and sportsbooks found a way to thrive online. Ontario, and a few other provinces, have embraced competitive licensing models that allow private operators to enter the market. The introduction of many different new online casinos in Canada has proved to be a major success. According to Cliff Spiller from SportsCasting, these online casinos offer generous bonuses, flexible payment gateways, and a large gaming library to suit player preferences.
Technology has also played a crucial role in growing the online gambling market. Integrating AI, VR, and even blockchain technology has significantly improved online gambling. These advancements have led to enhanced security, personalized gaming, and immersive virtual experiences. These features are key attractions, drawing more people into the industry.
In the past year, a significant number of Canadians’ changing preferences shifted towards digital entertainment and the results speak for themselves. The online gambling industry’s $2.4 billion revenue is a testament to its economic impact. The industry is contributing to federal and provincial revenues through taxes and licensing fees while creating thousands of jobs in technology, customer service, and marketing.
Ontario stands out as the largest market, generating a significant share of the national revenue. The province launched an open licensing system in 2022 that has attracted major casino and sportsbook operators, as well as several local operators.
The subsequent rise of esports betting, live dealer games, and mobile-first platforms reflects the market’s dynamic nature. In 2024, mobile gambling accounted for over 60% of the Canadian gambling industry’s revenue, highlighting the importance of adapting to consumer behaviour.
Despite its success, the industry faces ongoing challenges. Operators must continually adapt to regulatory changes and ensure fair play across their platforms. Responsible gambling initiatives as well as staying ahead of technological advancements are vital for sustainable growth. The industry is investing in innovative tools and practices to enhance the user experience while maintaining high standards of integrity and security. For example, Ontario has updated its Registrar’s Standards to include guidelines for sports betting exchanges.
Many opportunities are still opening up in emerging technologies and untapped gambling markets. Blockchain-based casinos and the integration of cryptocurrencies are gaining traction, while AI-powered tools continue to enhance personalization and fraud detection. For example, Nova Scotia, including most other provinces, is integrating blockchain technology to enhance security and fairness, allowing players to track their transactions transparently.
Canada’s $2.4 billion online gambling revenue in 2024 is a very significant achievement. It showcases the industry’s resilience and adaptability. As consumer demand and technological advancements continue to shape the landscape, the sector is bound for further growth and innovation in the future.
