Canada is home to a thriving gambling industry worth upwards of $10 billion. As such, retail and online betting operations contribute significantly to the country's economy. Additionally, it is estimated that the gaming industry is responsible for employing approximately 135,000 Canadians.
Retail casinos
The presence and expansion of physical casino establishments, including the construction of new casino projects, provides a wealth of opportunities for local economics. For instance, retail casinos provide jobs in positions such as dealers, cleaning staff, bar staff, admin, and security. They also work as sites of interest that draw regular crowds to surrounding areas, with public transport and local businesses benefiting from increased foot traffic. Retail casinos combine a variety of leisure activities and also rely on external companies to supply food and drink and carry out necessary maintenance.
Online casinos
When it comes to virtual gambling, online casinos have their own needs and also employ large amounts of people to ensure operations run smoothly. When it comes to real money sites, online security and tech development are essential to protect players’ funds. This also helps to circulate revenue and stimulate the Canadian economy.
While online casinos don't have the physical requirements of retail casinos, there are still many aspects that require high staff levels, including customer service and payment teams.
Another big difference between retail casinos and online casinos is the entertainment required to attract customers. Online operators will typically offer bonuses or offers to entice and retain new customers. Because its customer base is mobile or play from home, the only concern is to provide the latest games and an immersive gaming experience.
Conversely, retail casinos often rely on stars from the entertainment industry to draw crowds, with Las Vegas as a prime example of this tactic’s impact. Canadian casinos often host performances from artists and entertainers at their adjoining theatres, bringing about another way for the local and national economies to benefit from physical casinos.
Casinos and the Canadian economy
Unlike their American neighbours south of the border, where U.S. betting laws are decided by individual states, Canada has legalized casinos across all provinces. That said, there are different gambling rules for each region, and each province regulates its own operations.
Canadian bookmakers and casinos are taxed on their winnings and sportsbooks are known to pay a 20% tax rate. In comparison with U.S. operators, this falls somewhere near the lower end, with some states like New York paying as much as 51%. Bettors in Canada are unlikely to be taxed on their winnings unless they are a professional gambler who earns a living that way.
All economies rely on people spending money, and as a cash business, the gaming industry is a huge benefit to the Canadian economy. Both online casinos and retail casinos employ a significant amount of employees and provide a service to millions of customers.
Canadian casinos are a direct boost to the country's economy through employment and commerce. They are also indirectly beneficial to other businesses and services that see more people using their services as a result of their success.
