This is how Canadians are spending their money gambling

gambling

Gambling is a good mood booster and can increase happiness levels, according to studies. So, it’s unsurprising that gambling is a popular pastime in Canada. Almost 65% of Canadians say they’ve gambled in the past year, according to Statistics Canada. This number has continued to climb since gambling regulations in Ontario were overhauled. But when it comes to placing a bet, are Canadians more likely to do it online or in person? 

Online casinos are booming

30% of Canadians say they gamble online. This may not sound like a lot, but it generates around $643 million in revenue per year. The pandemic pushed more Canadians to move their gambling online. One study found that 1 in 3 opened a new online betting account during this period. Meanwhile, 1 in 20 started gambling on the net. Online casinos offer lots of variety at people’s fingertips, so it’s easy to see why online casinos are still popular today. There’s also the option to have fun, win money, and socialize with others at any time of the night or day. Some of the best online gambling sites in Canada include Jackpot City, PlayOJO, and BetOnline. Jackpot City is popular as it offers more than 500 casino games and has a generous bonus package. PlayOJO offers 50 free spins as a welcome bonus, and BetOnline is good for sports betting. 

In person visits decline

Prior to 2020, when casinos were forced to shut down for a period, Canadians enjoyed visiting casinos in person. Back then, 40% of people said they made at least one visit to casinos each year. A recent IPSOS survey revealed that this figure has since dropped to just 26%. In person visits to land-based casinos had been declining for some time. For example, physical casinos in Alberta reported a drop in revenue of 24% between 2018 and 2019. It’s not all bad news, though, as 20% of people say they still go to land-based casinos at least once per month.  

What the future holds

Online gambling is likely to gain further popularity in Canada. The country currently ranks in 8th place out of the countries that spend the most amount of money gambling online. Payouts also tend to be higher from online casinos. Analytics Insight reports that a return on investment (ROI) of 97% on winnings is normal. Attendance numbers may have dropped but land-based casinos are certainly here to stay, too. For many, a trip to a casino is an enjoyable evening out with friends. Plus, the atmosphere of a physical casino is electric and can’t be replicated when playing online. Gamblers often feel safer in land-based casinos as there’s no need to worry about online safety issues, such as fraud or security breaches. 

Canadians are big gamblers and love to splash their money in casinos. Online casinos are most commonly used by Canadian bettors as they’re easily accessible and come with greater returns. But there’s no denying that the thrill of visiting a physical casino keeps Canadians going back for more.

Other articles from mtltimes.ca – totimes.ca – otttimes.ca

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