From 2013 to 2023, the output of gambling and betting activities in Canada fluctuated, reaching 7.37 Billion CAD in 2023. The CAGR over the last five years (2018-2023) stood at -0.37%, indicating a modest decline. Significant variances occurred, notably a -15.08% drop in 2020 due to the pandemic and subsequent recovery with notable increases in 2021 (+9.89%) and 2022 (+5.68%). The year-on-year variation in 2023 was 3.88%.
The forecast indicates modest growth from 2024 to 2028, with a five-year CAGR of 0.55% and a forecasted growth rate of 2.8%, reaching 7.63 Billion CAD by 2028. Future trends to watch for include the potential impact of evolving regulations, digitalization in gambling, and shifts in consumer behavior post-pandemic, which could influence market dynamics significantly.
