Canada’s gambling industry is witnessing a paradoxical shift: participation rates are declining while revenues surge to record levels. Data from Statistics Canada shows that gambling participation dropped from 76% in 2002 to 64.5% in 2018. Yet, in Ontario, regulated online gambling revenue has more than doubled—from CAD 1.3 billion to CAD 2.9 billion between 2022–23 and 2024–25. The growth is largely driven by higher spending among existing users, particularly in online casino games, highlighting a structural transformation in consumer behavior and market economics.