Online casino “will be a far bigger winner for Ontario” than its sports betting counterpart when the market launches on April 4, state analysts for PlayCanada.

Big Difference To Show Up

According to performance figures from across the United States, igaming generated 153 percent more in operator revenue and 339 percent more in tax revenue than sports wagering did in the same period last year in states where both activities are legal. In 2021, online casinos in New Jersey, Pennsylvania, Michigan, and West Virginia will generate $3.8 billion in gross operator revenue, compared to $1.5 billion generated by sports betting operators in the same period.

This disparity can also be seen in state and local tax contributions, with the former’s $976.8 million contributions dwarfing the latter’s $222.4 million contributions. The combined revenue performance of the aforementioned four states is also expected to be higher than the $3.6 billion in revenue generated by all US online sportsbooks in the same year, despite the fact that sports betting is legal in five times as many states as it is now. On April 4, the province of Ontario will open its doors to private online casinos and sportsbook operators. As a result, the province will become the sixth jurisdiction in Canada and the United States to legalize and regulate both online casino gaming and online sports wagering simultaneously.

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Press Release Statements 

Despite the fact that sports betting receives more attention, Robyn McNeil, lead analyst for PlayCanada, stated in a press release that online casinos will deliver truly eye-popping numbers. In the states where online casino gambling has been legalized and regulated, the revenue generated by online casinos dwarfs that of land-based casinos. Profits from online sports betting

It was also pointed out by Eric Ramsey, a lead data analyst for the Play network, that online casinos are not only more profitable than sportsbooks, but they are also less susceptible to the seasonal fluctuations that affect sports betting. In the United States, revenue from online casino betting has consistently increased month after month, and this has been the case for years in even the most established markets.

About PlayCanada 

Part of the Play Network, PlayCanada.com is a prominent source for news, analysis, and research connected to the market for regulated online gaming in Canada. PlayCanada conducts original daily news, publishes in-depth research, and gives player advocacy tools relevant to promoting safe, licensed, and legal online gaming options for consumers. The Play Network is independently owned and operated based in Las Vegas, with no links to any casino – commercial, tribal, online, or otherwise.

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