The output of gambling and betting in Canada was valued at CAD 7.51 billion in 2023. Over the years, this sector has shown a mix of fluctuations with notable dips and recoveries. Year-on-year variations have ranged from a sharp decline of 15.07% in 2020, reflecting the impacts of the pandemic, to a positive growth of 10.55% in 2021, indicating resilience in the sector. The Compound Annual Growth Rate (CAGR) over the last five years from 2019 to 2023 stands at approximately 0.027%, signaling steady, albeit slow growth. By 2028, the sector is forecasted to reach CAD 8.03 billion, with a forecasted 5-year CAGR of 1.06%.
Future trends to watch for in the Canadian gambling and betting industry include the increasing integration of digital and online platforms, growth in consumer spending post-pandemic, and the regulatory shifts that may open new markets or impose new restrictions. These trends could significantly influence the volume and value of output in this sector.
