Sportsbook platform provider BtoBet has turned its attention to the newly legalized Canada gaming market this week, with the publication of a new industry report titled the Canada Betting Focus.
The document analyzes market opportunities since single-event sports betting was legalized last year, offering up a regulatory overview and referencing data indicating the market’s short term growth trajectory.
According to the report, the market is estimated to reach levels between CA$1.5bn to CA$2.4bn in the second year post-legalization, compared to CA$241.7m pre-legalization.
Specific focus is trained on Canada’s internet usage and mobile penetration, with the study citing a high mobile connection rate amounting to 101.8% of the population (38.93 million mobile connections).
Moreover the country has 36.98 million internet users, amounting to 96.5% of the total population. Said the report: “Up until January this year there has been a marginal increase of 312,000 in internet users (+0.9%) when compared to the same month last year.
“A slightly stronger increase was registered in terms of mobile connections, with the total users increasing by 4.1% (+1.6 million) when compared to January 2020. The vast majority of internet users (93.6%) own a smartphone, an increase of 0.1% from the same period last year. On the other hand 78.8% own a laptop or desktop computer (-0.8%), whilst 52.5% own a tablet device (-4.0%).”
Readers will also find in-depth analysis of the legal market versus the black market and the need to bring bettors into the regulated sector. Quoting the Canadian Gaming Association (CGA), the report noted: “Canadians enjoy sports betting because they are wagering approximately $10bn annually through illegal bookmaking operations in Canada, usually operated by organized crime organizations.
“Additionally, more than $4bn is wagered through offshore online sports wagering sites. Currently, only $500m is wagered through legal provincial sports lottery products offered to Canadians, which means many people are betting through illegal and often dangerous means.”
The Canadian Betting Focus is available for free and can be downloaded HERE.