Canadians love to bet!

Betfair · #1 09-02-2010, 11:37 PM

Proving they aren't afraid of making a bet, Canadians spent nearly $14 billion on government-run gambling in 2009, says Statistics Canada. Net revenue from lotteries, video lottery terminals (VLTs), casinos and slot machines rose to $13.75 billion in 2009, slightly higher than $13.67 billion the year before, said the report released Friday. The figure is also higher than it was in 2007, when revenues hit $13.7 billion.
However, the report also found that GDP from gambling has steadily declined over the past few years, meaning economic activity in the industry, such as job creation, has gone down -- even as revenue has gone up.

This could prove significant as Ontario and British Columbia announced plans this summer to start new online-gambling ventures in 2012. While Brad Humphreys said the rise in gambling revenue by some $8 million between 2008 and 2009 is nothing to write home about -- and is likely related to a rise in the adult population over the past year -- the fact that people are still gambling when the economy is struggling underscores the popularity of the entertainment.

"The downside is that not everybody is responsible enough to engage in the activity without doing themselves harm," said Humphreys, a professor of economics and chair in the economics of gaming at the University of Alberta. Provincial governments interested in online-gambling have estimated they could reap hundreds of millions of dollars that would otherwise go to offshore sites, and also promised a more responsible and secure environment.

However, experts have questioned whether provinces will be able to compete with some 2,000 offshore sites, and also warned that players could become hooked.
Humphreys said he isn't sure Internet gambling will take customers away from established forums such as casino or lotteries.

At the Casino du Lac-Leamy in Gatineau, Que., Sonia Blais, 45, took a quick cigarette break from the orchestral drone of slot machines on Friday afternoon, where she planned on dropping $140 for a few hours entertainment.

The city employee from Blainville, Que. said she takes her 78-year-old father Jules to the casino once a month "just for fun." "You pass the day. I'm with my father. My father loves slot machines," she said.
Blais said she can spend her money as quickly as an hour or slowly as 10, but even if she wins on slots, she doesn't take home enough to make a profit. "I have a regular job, that's why I can come here," she said.
The report says that in 2009, casinos accounted for 34 per cent -- or almost one-third -- of the net revenue from the gambling industry.

Lottery revenue rose slightly to 26 per cent from 24 per cent, while slot machines outside casinos -- mainly at racetracks -- accounted for 21 per cent, down from 22 per cent in 2008. VLTs fell slightly to 19 per cent, down from 20 per cent. The findings, published in Perspectives on Labour and Income, also found gambling participation and expenditures increased with income. For example, 51 per cent of households with incomes of less than $20,000 gambled in 2008, spending an average of $395. Among households with incomes of at least $80,000, 78 per cent gambled and spent an average of $555 in 2008.
Since 1992, gambling revenue has steadily increased -- from $2.73 billion in 1992 to about $13.7 billion in 2007.
Since then, it has levelled off, said the report.

Read more: Canadians ante up $14B

Betfair

revnecro1273 · #2 09-02-2010, 11:39 PM

they have nothing on the asian community...thailand alone bet more on the this year's world cup than what was taken in overall on the 2010 superbowl

Chicago RED · #3 09-03-2010, 12:02 AM

Quote:

Originally Posted by revnecro1273

they have nothing on the asian community...thailand alone bet more on the this year's world cup than what was taken in overall on the 2010 superbowl

Thats crazy lol

revnecro1273 · #4 09-03-2010, 12:30 AM

Quote:

Originally Posted by Chicago RED

Thats crazy lol

that is what i thought...wtf...is like a 2nd world country and it is illegal to gamble there

bt33 · #5 09-03-2010, 01:10 AM

Yeah, I remember being in Thailand over the holidays and I couldn't bet the bowl games cause the site was blocked by the govn't.

revnecro1273 · #6 09-03-2010, 01:16 AM

Quote:

Originally Posted by bt33

Yeah, I remember being in Thailand over the holidays and I couldn't bet the bowl games cause the site was blocked by the govn't.

not all sites, but some were...i know pinnacle was...but think 5dimes was accessible and some euro sites...poker sites weren't blocked though...go figure....thailand blocks all that shit...china blocks Facebook and wikipedia, but every gambling site out there is accessible

QuadzillaXXX · #7 09-03-2010, 08:41 AM

when we go to vegas there are a ton of asians gambling there which is great since they're always quiet and play fast unlike the.....

also, i didn't realize i had any asians in this area at all until the table games opened up recently and now i see that i was wrong lol

Gobbler's Knob · #8 09-03-2010, 03:04 PM

Quote:

Originally Posted by QuadzillaXXX

when we go to vegas there are a ton of asians gambling there which is great since they're always quiet and play fast unlike the.....

also, i didn't realize i had any asians in this area at all until the table games opened up recently and now i see that i was wrong lol

I would say it's 60 percent asians at the Fallview casino on any given night.

Lukester · #9 09-03-2010, 03:37 PM

OLG is supposed to make 60% in profit...supposed that is, yet they make OVER 80% cuz about 20% are the winnings.

OLG online will not be a Big Hit cuz they will keep the same low odds. With their over-head down you would think they would entice Cds with competitive odds but they won't. They'll probably keep the 3-Team Parlay mandatory as well--no single bets.

I would have been excited about this a few years ago but all the excitement will sourwhen people see it's simply another way to squeeze the rest of the dollars out of our pockets.

Slammer · #10 09-04-2010, 04:37 AM

OLG aims to keep about 40% of the revenues it takes in, paying 60% back as winnings.

Lukester · #11 09-09-2010, 02:07 PM

Quote:

Originally Posted by Slammer

OLG aims to keep about 40% of the revenues it takes in, paying 60% back as winnings.

The latest figures I've seen re: proline show only 17%-20% go to winnings. This I calculated two Quarters in a row. Had another conversation with a retailer that confirmed this a couple days ago. He will show me the newsletter when he locates it. If I can have a copy of it I will paste it here.

Was also told that in Ontario 100% of the Encore revenues go to Ontario Hospitals. Read on that too.