The soon-to-be-launched launch of private online gambling operators in the Ontario market is expected to create nearly 1,300 additional jobs in the province.
According to a recent report published by Play CanadaFollowing the nascent market, as things stand, 1,295 jobs have been added in Canada in the online gaming sector, with more expected.
Robyn McNeilPlayCanada.com’s editor and co-author of the report, said, “We’ve discovered by looking globally that online cannibalization is largely a myth, often propagated by brick-and-mortar casino operators. , naturally concerned that online games will eat into their profits.
“The truth is that online casinos and sportsbooks often act as a tide that lifts all boats, expanding the market for the benefit of all industry players.”
To produce the report, PlayCanada compiled data, along with other information from industry insiders, hiring professionals and economic experts, as well as detailed research on job postings in comparable jurisdictions.
In addition to vacancies at online casinos, the report says that when the regulated market opened in April, many gray market operators “indicated” that they would “make the switch”.
Earlier this year, the The Great Canada Gaming Corporation released a market assessment that the introduction of an open market for online sports betting and online casinos in the province of Ontario would “eat away” land-based revenue.
The GCGC report also argued that cannibalization would result in “substantial job loss and lower gambling tax revenue for municipalities and the province.”
However, PlayCanada’s own assessment said there is “no measurable evidence” that online casinos dilute land-based profits, but in fact provide the opposite.
The report said: “According to an industry insider, igaming is not cannibalizing the terrestrial market, despite what GCGC and Apollo (their owner) claim. The market data, they said, clearly set a precedent to the contrary: “their whole proposition was an attempt to lock in a new market that they weren’t ready for.”
“Land-based casino operators will have to adapt, but the introduction of private online gaming operators should be a net benefit for Ontario and beyond,” added Dustin Gouker, which oversees the Play Network. “Ultimately, the benefits of private and regulated online gambling operators to the economy will be tangible.”