The mobile sports betting and online casino industry is adding measurable economic contributions to Canada’s most populous province, according to a recent study.
A report conducted by Deloitte for iGaming Ontario found that the regulated industry provided $2.7 billion to Ontario’s gross domestic product and sustained 14,935 full-time employees in 2023.
“Our made-in-Ontario iGaming sector is being recognized internationally for its success as a leader in this space,” Attorney General Doug Downey said. “Working together with our partners and industry, we will continue to drive innovation and deliver robust player protections, all while displacing the unregulated market. Our iGaming sector is not only a job creator here in Ontario but it shows the world our ongoing commitment to building a sustainable and responsible iGaming industry.”
On the rise
In the second year of the study, which ran from April 4, 2022, through April 3, 2023, the GDP contribution was up 70% from 2022’s $1.58 billion while more than 2,000 more jobs were created through the iGaming industry.
Online sports betting and casino operators directly employed 2,675 employees with average compensation of $122,500 per employee in 2023, 60% higher than Ontario’s average compensation.
The latest report shows that the estimated labor contribution increased by 45% to $1.31 billion.
“This report puts Ontario’s iGaming market government revenue contribution at over $2 billion since it launched,” said Heidi Reinhart, iGaming Ontario’s Board Chair, “and with job contribution up by 24% from its first year, the benefits to Ontarians are significant.”
Filling the coffers
The IGO’s report included 47 operators and 77 gaming sites in 2023, up from 45 and 76 in the previous year.
The study found that those licensed gaming operators’ expenditure figures totaled $1.96 billion in revenue in the second year of regulated iGaming.
Provincial, municipal, and federal governments benefited greatly from that, receiving $1.24 billion in revenues. Ontario got the biggest chunk from market operators with $790 million in contributions. Municipal received $75 million while Canada’s government collected $380 million.
“Through the development and growth of Ontario’s regulated iGaming market, we’re helping achieve the government’s goals in terms of job creation, innovation, and development, while providing a safer experience for consumers,” said Martha Otton, iGaming Ontario’s executive director.
