It is anticipated that Canada’s online gambling industry would reach $8 billion.

A daring assertion was made by the iGaming mega-corporation DraftKings, which is based in Boston. To be more specific, that the combined revenues of the Canadian industries of online gambling and sports betting will amount to $8 billion. This forecast is made in reference to iGaming legislation that is now being considered in Ottawa. If passed, this legislation will finally make the local business completely legal and propel it ahead into a new age.

DraftKings, although being one of the most prominent companies in the sector, does not currently own any stakes in the online gaming sector of the Canadian market. However, judging by the optimistic comment, it looks as though the American behemoth is keeping an eye out for possible chances in the future.

Jason Robins, who serves as the Chief Executive Officer (CEO) of the company, provided further explanation of his ideas.

A rising level of interest

Robins was very clear when he claimed that at the same time a year ago, he had very little to no interest in either online gambling in Canada or sports betting in Canada. However, as he indicated, he is becoming increasingly interested in the topic, particularly because of the support for Bill C-218. He added by saying that the recent Ontario budget statement was also positive toward the Bill, which was further evidence that the country was headed towards quick regulatory change.


He went on to say that local sports betting in general and internet gambling in Canada in particular were swiftly developing a reputation for being highly entertaining. His analysis led him to the conclusion that Canada has risen to the position of one of the top 10 regions of interest.


These upbeat statements coming from the chief executive officer of DraftKings surely give the impression that the country has a promising future. But what’s more important is a recent study that was carried out by Deloitte Canada. It put into context exactly how profitable the potential actually is.


The Numbers and Figures

The results of the study, which were published by Deloitte Canada, are nothing short of stunning, according to the company’s findings. It was anticipated by the organization that eventually, Canadians may be spending as much as $28 billion yearly on sports betting and online casinos, which is surely an amount that will make the industry sit up and take notice of what is happening. In addition, the corporation predicted that by the end of the decade, approximately 64 percent of the world’s population will have direct access to online gambling.


However, it is important to keep in mind that these numbers are based on an event that won’t take place for a number of years after the legislation has been approved. Even while there is a lot of promise, the most significant official measures that need to be made in order to get to this future have not even been taken yet.


In any case, Robins indicated in his concluding comment that even entering the market for online gambling in Canada will be difficult. This was said in reference to the country of Canada. When asked to explain why, he merely responded that the previously established gray online casino companies have been granted the early-mover advantage because of their position in the industry.

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