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The Real Money Gambling Industry in Canada

The gambling industry in Canada has grown immensely over the years especially when it comes to real money betting. According to a report published by the Canadian Gaming Association, the economy of Canada has benefited a lot from the gambling industry in terms of taxes paid and job provision. This post will give concrete statistics about the gambling industry in Canada, talk about individuals who have become rich via the gambling industry, and the legal situation of online gambling in Ireland. 

Statistics about the Gambling Industry in Canada

Canada’s betting industry has impacted all sections of the economy, and that’s why research is being done to evaluate the exact statistics of this booming industry in Canada.

A research institute in Ontario noted that 25% of Canadians visit land-based casinos while 76.6% prefer online Canadian casino services. Out of these individuals, 66% play lotteries, 59% prefer poker, roulette is 45%, sports betting has 73%, horse racing is 64%, greyhound 48.6% while slot games are 77%. According to our source on the statistics about gambling with Real Money, the above data show that Canadians prefer slot games and sport betting over other gambling options.

Furthermore, looking at the age distribution of Canadian citizens who bet, 18-27 yrs prefer video games betting like Xbox and PS4, 18–69 love casino games while 40–79 still prefer traditional games like greyhound and horse racing. Looking at the population distribution, it is no surprise that Ontario has the highest gambling population in Canada with over 87% of its resident’s gambling. It is closely followed by British Columbia with 74%. Out of $22 b generated from online gambling as of January 2020, about 51% is from Ontario.

Also, looking at the addiction problems in the country, we can see that 5% of Canadians claim to have betting addiction problems, while 21% don’t gamble excessively. The Gambling institute of addiction in Quebec opines that data available suggest about 36.8% of Canadians make their living from all manners of betting. The national bureau of gaming believes that 73% of all Canadians bet, while 85% are male, 15% at females.

The Richest Canadian People Thanks to Gambling Industry

Top of the list is Mark Scheinberg a 45-year-old gambling guru. He is a Canadian citizen who became a billionaire from online gambling. Mark and his dad founded the PokerStars gaming group with Mark using his programming skills to develop an array of casino games. PokerStars is part of a group called Rational which the Scheinberg family owns about 77%. In 2014, a top Canadian online gaming franchise Amaya purchased PokerStars for about $4.85 b. As of August 2020, he is worth $5.1b.

Another wealthy individual in Canada’s online gambling industry is Calvin Edward Ayre. He is the founder and CEO of the Bodog gaming entertainment firm. He made his fortune from gambling and other entertainment activities. Various casino software for businesses was designed by him, and he and sold them at affordable rates.

Michael Watson is another prominent casino player that has made millions from the gambling industry. Unlike the first two billionaires, who are entrepreneurs, Michael is an active poker expert who is worth around $11 m. Last year, he won a poker tournament with the prize money being around $1.7 m, and he has always been part of the top richest poker players in Canada for seven years.

Jonathan Duhamel is another rich casino player. He made his wealth playing poker and blackjack. He also writes a lot of strategy books on online casino games and how to make money from betting. Other notable wealthy Canadian people in gambling are story Mizzi, Daniel Negreanu, and Giu Liabette.

The Legal Situation of Online Gambling With Real Money in Ireland

Ireland has its share of gambling history with betting in this modest country dating back to 1840. Getting a good review of mobile casino games in Canada can be done at online Canadian comparisons sites like Casimoose. The gambling situation in the country was fuzzy and unclear until 1854 when the gaming act was established to look after all gambling issues in the country. This act left regulations of all chance games to the regional authorities. With the emergence of technology came online gambling and new laws to regulate them. 

First came the national lottery act of 2013, which stipulates that all lottery-type games like bingo and scratch cards must only be played by citizens aged 18 and above, and they must provide a valid id before a ticket could be sold to them. Also, there exists an Irish gambling control bill of 2018, which was made by the office of gambling control Ireland to look over the affairs of all gambling activities from sport betting to chance games.

Late last year, came the gambling amendment act which mandates gaming license for all gambling businesses in the country. What this implies is that to operate an online betting business, you must have a remote bookmaker permit and an online betting permit. Failure to do this attracts suspension and a fine of $3 m.

We have delved into the gambling industry, mention some individuals who made their money from the gambling industry, and also the legal situations gambling in Ireland with real money.

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