Mar 3, 2026
One of Canada’s fastest-growing industries is rapidly turning into a dangerous financial trap for young people across the country.
Academics, researchers and public health experts have become increasingly alarmed by the betting industry’s rapid expansion and the potentially harmful effect it can have on a bettor’s mental and financial well-being.
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Here’s why it is becoming such a big problem.
A booming industry
Online sports betting has exploded in Canada since the federal government legalized single-event sports wagering in 2021, and Ontario opened its doors to private online gambling in 2022.
In Ontario alone, bettors wagered $82.7 billion on regulated iGaming platforms in 2024 to 2025. This generated $3.2 billion in gross gaming revenue — a 32% increase year over year, according to iGaming Ontario (1).
Provincial governments now have a direct financial stake in the industry’s continued growth. Ontario collects 20% of iGaming revenues — projected at $253 million in public funds for 2025 to 2026. This creates an undeniable conflict of interest when it comes to regulation, according to Birches Health (2).
At a national level, commercial gambling generated over $17 billion in net revenue in 2024, according to ARPA Canada (3).
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Big profits lead to big concerns
While the online gambling industry has led to massive profits, the mental and financial damage that bettors can face is a growing concern.
The numbers paint a concerning picture. Research published in the Journal of Gambling Studies found that following the legalization and advertising expansion of online gambling in Ontario, calls to the Ontario Problem Gambling Helpline rose from 131 each month before the pandemic to 184 monthly between April 2022 and January 2023, with the majority of calls now related to online gambling (4).
Gambling-related bankruptcies in the province have skyrocketed more than 400% since private online gambling launched, with 604 Ontarians citing it as a cause of financial distress leading to bankruptcy in 2025 alone (5).
And young men bearing the worst of it. A 2024 report from Greo Evidence Insights, the Canadian Centre on Substance Use and Addiction, and Mental Health Research Canada — drawing on data from more than 8,000 Canadians — found that nearly one in three adults aged 18 to 29 gambles online. And those who do are 45 times more likely to qualify as problem gamblers than people who only play the lottery, according to the Canadian Centre on Substance Use and Addiction (6). Further, nearly one in four young online gamblers (23.5%) reported experiencing high levels of gambling-related harm, including reduced savings, increased credit card debt and compromised well-being (7).
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A separate national poll found that 7% of Canadians present a high risk of problem gambling — rising to 15% among those aged 18 to 34. Among high-risk gamblers, 22% reported having planned suicide, according to Mental Health Research Canada (8).
Statistics Canada data substantiates these findings, noting that gambling problems can lead to marital breakdown, bankruptcy, financial hardship, suicide, crime and increased substance abuse (9).
Unlike other addictions, gambling can be difficult for friends and family to detect, making intervention more complicated. Nevertheless, there are ways you can protect yourself and your loved ones from this crisis.
How to protect yourself
As with any addiction, acknowledging the problem is the first step. Once it’s out in the open, you can take concrete steps to address the behaviour.
Contacting a provincial helpline specifically for gambling problems is a good starting point. Every province offers a free, confidential service:
- British Columbia Problem Gambling Help Line: 1-888-795-6111
- Alberta Addiction and Mental Health Helpline: 1-866-332-2322
- Saskatchewan Problem Gambling Helpline: 1-800-306-6789
- Manitoba Addictions Help Line - Problem Gambling: 1-800-463-1554
- Ontario Connex Ontario Help Line: 1-866-531-2600
- Quebec Gambling: Help and Referral: 1-800-461-0140
- New Brunswick Gambling Information Line: 1-800-461-1234
- Prince Edward Island Problem Gambling Help Line: 1-855-255-4255
- Newfoundland Problem Gambling Help Line: 1-888-899-4357
- Yukon Mental Wellness and Substance Use Services: 1-866-456-3838
- Northwest Territories General Help Line: 1-800-661-0844
- Nunavut Kamatsiaqtut Help Line: 1-800-265-3333 (10)
Connecting with a professional therapist or counsellor who specializes in addiction is another important next step. Know that you’re not alone, and these services are available to help you.
-With files from Melanie Huddart
Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
iGaming Ontario (1); Birches Health (2, 5); ARPA Canada (3); National Library of Canada (4); Canadian Centre on Substance Use and Addition (6, 7, 10); Mental Health Research Canada (8); Government of Canada (9)
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Vishesh Raisinghani is a financial journalist covering personal finance, investing and the global economy. He is the founder of Sharpe Ascension Inc., a content marketing agency focused on investment firms His work has appeared in Money.ca, Moneywise, Yahoo Finance!, Motley Fool, Seeking Alpha, Mergers & Acquisitions Magazine, National Post, Financial Post and Piggybank. He frequently covers subjects ranging from retirement planning and stock market strategy to private credit and real estate, blending data-driven insights with practical advice for individuals and families.
