Since the legalization of online gambling and sports betting in Ontario three years ago, the industry has experienced phenomenal growth, with a reported $63.3 billion wagered and $2.2 billion in revenue generated in 2023-2024. Bill O'Brien from PowerPlay noted the market's unexpected success and its significant contribution to the provincial economy, creating approximately 15,000 jobs and adding an estimated $2.7 billion to Ontario's GDP. However, experts express concerns about the marketing strategies of gaming operators and the potential negative effects on the public, likening the current environment to a 'Wild West' scenario.
"Everyone always knew Ontario was a market with huge potential, but it has surpassed what anyone kind of expected it to be."
"The second full year of legalized sports betting contributed something like 15,000 jobs and $2.7 billion to Ontario's GDP."
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