{"id":46528,"date":"2021-08-30T11:24:38","date_gmt":"2021-08-30T14:24:38","guid":{"rendered":"https:\/\/igamingbrazil.com\/uncategorized\/2021\/08\/30\/playcanada-study-points-out-that-sports-betting-sector-in-the-country-could-yield-us-25-billion\/"},"modified":"2021-08-30T11:26:59","modified_gmt":"2021-08-30T14:26:59","slug":"playcanada-study-points-out-that-sports-betting-sector-in-the-country-could-yield-us-25-billion","status":"publish","type":"post","link":"https:\/\/igamingbrazil.com\/en\/sports-betting-en\/2021\/08\/30\/playcanada-study-points-out-that-sports-betting-sector-in-the-country-could-yield-us-25-billion\/","title":{"rendered":"PlayCanada study points out that sports betting sector in the country could yield US$ 25 billion"},"content":{"rendered":"\n

Single-event betting launched in Canada last week and opened up a new market opportunity for local online sports betting <\/a>companies. A new PlayCanada study looked at the size of the Canadian sportsbook market.<\/p>\n\n\n\n

PlayCanada’s report concluded that the market could generate $2 billion a year in operator revenues and $25 billion in annual betting. “The Canadian legal sports betting<\/a> market could eventually generate $25 billion in retail and online betting annually in an ideal scenario that would include legalizing single-game betting in every province and territory,” he pointed out.<\/p>\n\n\n\n

Similar to the United States, the Canadian market is decentralized, with each province adopting legal sports betting<\/a> and creating its own rules and regulations. The Canadian market could yield a big boost for online sports bookmakers that have been successful as more states in the US legalize their operations.<\/p>\n\n\n\n

Canada has a population of over 35 million people, making it one of the 40 most populous countries in the world. If 100% of Canada were open to online sports betting<\/a>, this would represent a market with more people than Texas and second only to California in the United States.<\/p>\n\n\n\n

PlayCanada projections for two major regions in Canada<\/h2>\n\n\n\n

Canada’s two most populous provinces could offer a significant opportunity if they are fully legalized and allow access to sports betting sites. After all, about 60% of Canada’s population is found in Ontario and Quebec. With populations of 13.4 million and 8.1 million, the two Canadian regions would rank fifth and 13th in the United States in population, respectively.<\/p>\n\n\n\n

PlayCanada predicts a $11.1 billion gambling market for Ontario and $800 million in bookmaker revenue annually, which could make the province one of the biggest markets in North America.<\/p>\n\n\n\n

In addition, Penn National Gaming recently announced the acquisition of Score Media and Gaming, one of Canada’s leading sports media brands and gaming houses.<\/p>\n","protected":false},"excerpt":{"rendered":"

Single-event betting launched in Canada last week and opened up a new market opportunity for local online sports betting companies. 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