In Canada, the Ontario iGaming industry is thriving. With how much revenue they can generate in a fiscal year, other provinces are looking into adding an iGaming market. Alberta is on track to open up multiple sportsbooks sometime in 2025. Additionally, Quebec is trying to follow Ontario’s model of how it became a successful iGaming market. In Quebec, they are trying to counteract a “large deficit” in their budget.
Together, the Quebec Online Gaming Coillation and accounting firm Mallette worked to produce a report on the fiscal impact of Ontario’scompetitive, regulated online gaming industry. In doing research, they found that iGaming Ontario (IGO) had nearly $230 in revenues after expenses in the fiscal year of 2022-23. That was their first full year as a legal, regulated gaming market. The local government could see at least $145 million paid annually from the Ontario sports betting market. A spokesperson for the Quebec Online Gaming Coalition had this to say.
“In addition to capturing more than 86% of the unregulated market in its first two years of operation, the Ontario model has shown that it can be profitable from the outset and be a major economic driver for the province,” – Nathaniel Bergeron
What effects could Quebec see from adopting Ontario’s iGaming model?
In the report from the Quebec Online Gaming Collation and the Mallette accounting firm, they found considerable contributions to Ontario’s overall GDP and job growth. Not to mention the tax revenues padding government officers. With a competitive and regulated market in Ontario, they significantly reduced the amount of illegal off-shore markets used. Around $1.6 billion was added to Ontario’s GDP in its first year of being an online gaming market.
Operators in the province directly created more than 1,800 jobs with an average starting salary of $103,000. That’s 41% higher than the average salary in Ontario. In year two of their regulated gambling market, Ontario saw a 78% increase in wagers compared to 2022-23. Their total revenue from the 2023-24 fiscal year was $2.4 billion. All this data is used to endorse a competitive online gaming industry in Quebec. Why would they continue to miss out on the potential revenue they could make? Quebec has seen how profitable the competitive market has been in Ontario.
In November 2023, a report released by GeoComply stated that they blocked more than 105,000 attempts in Quebec to try and access an Ontario sportsbook since the 2023 NFL season. Additionally, the Quebec Online Gaming Collation found that 67% of Quebec-based users support regulated markets of online operators. There’s proof of Ontario’s success in this market and it’s only a matter of time until other provinces follow.
