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Canadian Gambling Slightly Down
New statistics on gambling from Statistics Canada reveal that a decline in gambling in the country - the first in sixteen years - has taken place. Revenues from government-run gambling fell slightly to $13.67 billion in 2008 from $13.70 billion the year before, a decline attributed to adverse economic conditions.
Commenting on the decline, Garry Smith, a gambling research specialist with the Alberta Gaming Research Institute, opined that problem (addicted) gamblers were largely responsible for insulating the industry from the worst of the recession. He estimated that as much as five percent of the adult population has a gambling problem, ranging from mild to severe, but this demographic contributes at least one-third of overall gambling revenues and even more to slot machines and video lottery terminals.
"It's not a recession-proof industry," Smith says. "(But) if you're an addict, you're still going to play and I guess that's one of the reasons it stays up there. Most industries drop significantly; gambling has levelled off and dropped a bit, but not that much."
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Statistics Canada found wealthier households are more likely to gamble than their poorer counterparts, with 34 percent of those with incomes of less than Cdn$20 000 playing games of chance in 2007, compared to 58 percent of those making Cdn$80 000 or more.
The latest numbers from Statistics Canada show that the poorest households devote 1.7 percent of income to gambling, compared to just 0.4 percent in the richest households.
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Gambling News :
Is Gibraltar Out of Luck in US Tax Challenge -
Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.
Quickspin are now available in Denmark -
#quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.
UCypher Launches -
Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.
Extreme Live Gaming In deal With Betsson -
Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.
Expansion Mode For BoyleSports -
The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..
Safecharge Q4-2016 -
Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.
ASA Most Controversial Ads of 2016 -
Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.
Yggdrasi To Enter Italian Gambling Market -
Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.
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