Economic Impact of Ontario Gambling is $1.5 Billion in the First Year

Economic Impact of Ontario Gambling is $1.5 Billion in the First Year

Last updated on June 18th, 2023 at 12:01 pm

According to a recent bookie pay per head report, the economic impact of Ontario gambling was C$1.5 billion in its first year. Also, the gambling industry generated around 12,000 jobs. As a result, residents earned C$900 million in wages.

The numbers show a positive impact of gambling in Ontario. Also, the ten-year estimates showed that the industry would continue its upward trend.

According to the best sportsbook pay per head, the gaming industry’s average salary is C$103,000. It is an impressive sum, around C$30,000 more than the typical salary in Ontario.

The gambling industry opened opportunities in product development, fraud prevention, and other tech-centric professions. Also, these numbers reflect the general quality of gaming occupations available in the province.

It is consistent with the province’s policy, which places a premium on expanding access to STEM fields, especially for women and indigenous people.

Impact of Ontario Gambling

Economic Impact of Ontario Gambling is $1.5 Billion in the First YearThe gaming industry earned $761 million in its first year of business. It is another remarkable sum, but the research predicts that this revenue may reach $2.2 billion in ten years.

The sector made significant contributions to regional GDP and brought in over C$700 million for the Canadian government in the form of dividends.

Burns said there is an opportunity for many to flourish by design, even though some have argued that the market is already too crowded with 46 operators and that consolidation is imminent.

Many have speculated that the province’s gambling industry, with 46 businesses managing it, maybe too congested to prosper without consolidation. Burns, however, pointed out that the report’s findings suggest that many more companies may thrive in Ontario than previously thought.

All the operators on the panel agreed with Burns that having a physical presence in Ontario is crucial to their business, and they praised the quality of life and the availability of skilled workers in the province. They can share their knowledge on how to open a sportsbook in Ontario.

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