Canada has ten provinces, where gambling online and in land-based establishments is fully regulated and allowed. Of course, the industry is a good source of the country’s income. What figures are we talking about? Does this benefit influence the economy a lot? And, why does the government promote this business?
Summary of Economic Impact Process
Knowing the fact that popularity of gambling always grows and the vast majority of people plays, we may conclude that this sphere is highly profitable. So it is in reality. It brings substantial investments into the state budget. Billions of dollars go to the government and charities, educational events, workers’ salaries, and sustaining operations. It makes a huge economic impact on the whole country. The expenditures on the problems related to gaming only take 90 million CAD annually.
Total Income Graphs
Have you ever imagined what profits bring the industry? Obviously not. In order for you to understand, the income for 2007 was already more than 14.5 billion CA$. However, the total gambling revenue in 2015 exceeded 15,000,000,000 dollars. During the past several years, the digit slightly fluctuates, but doesn’t drop below this mark anymore. See the rates of Canada casino online and other business areas for your own comparison.
Proceeds of Selected Industries
For a larger view of how much money it brings, let’s see what are the benefits of different public industries. The only sphere, which is close to some extent is the television & movie rental – 10.3 billion dollars. The other areas as reading materials, drinking places, spectator sports, cinemas&theaters, and performing arts have the following rates – 3.0, 2.7, 2.6, 1.5 and 1.3 milliards respectively. Such digits clearly present the great role of gaming in Canadian life and expenses.
Revenues Spent for Governments and Charities
Where is all the cash headed? Of course, it’s very important to support the existing premises as well as contribute to the people’s wealth. The government and charities take the biggest part of the overall yield. The whole sum is 8.7 billion – 2.2% is spent on federal needs, 5.5% takes welfare, and 46.9% from 16 milliards go to provinces, municipalities & the First Nations.
Expenses to Sustain Gaming Operations
The other 7.3 billion are needed for supporting gaming operations. Change of equipment, salaries, taxes, private profits take another 45.5%. The part of purchasing goods and services – 27.4%, and the worker’s benefits forms only 15.2% of the sum.
National Reports in Canada
In autumn 2015, there was a poll held in order to estimate the final games of chance’ impact for over 20 years, called the Opinions of Community Leaders. The survey showed their notions about positive and negative effects of CAD playing online. They consider that both 2 aspects are fairly presented in the industry. Also, they shared their thoughts on the subject of what good and bad things happened after gambling appeared.
Positive Online Casino Effect
Community leaders were unanimous in the notion that online casinos created a huge tax revenue and employment. However, the views on tourism, real estate and general economic development, and expanded entertainment opportunities varied. The representatives of First Nations agreed with the overall improvement in these spheres.
The problem of gambling addiction still exists. The association leaders of all unions consider that it’s a serious, but unexpanded issue. Yet, they confirmed that many of the fears about gaming didn’t materialize. Poverty and bankruptcy, revenue cannibalization, vast disorders didn’t have a big influence on its members for the record.