The growing popularity of the online betting market is putting a squeeze on the B.C. Lottery Corp.’s revenues and also raising concerns about a lack of regulation to combat youth gambling and money laundering.
Estimates from the corporation’s most recent budget submission show online gambling revenue is expected to increase from $469 million to $576 million over the next five years, while revenue from conventional lotteries is expected to drop slightly from $570 million to $560 million over the same time frame.
Revenue from casinos and community gambling is expected to remain mostly steady, increasingly slightly from $1.92 billion to $1.94 billion.
A pending problem for BCLC, however, is that young users aren’t buying lottery tickets or attending casinos as often as past generations, potentially creating challenges for the organization’s two primary revenue streams.
