Video lottery terminals or VLTs help improve Alberta gambling revenues in 2018. The Canadian province’s earnings from gambling grew by $4 million due to the increased use of VLTs.
According to the Alberta Gaming, Liquor and Cannabis, revenue from VLTs, electronic bingo, and slot machines is $1.726 billion. This is up from $1.732 billion from the previous fiscal year. In 2017, the province suffered from low lottery revenues.
In 2015, Alberta gambling revenues reached its peak at $1.906 billion. However, it started a downward trend for the next two years. According to gambling industry news, it was due to a slow economy.
According to sportsbook pay per head reviews, the economy and gambling revenues go together. While people have different reasons why they gamble, the most common one is for leisure. When people have more disposable income, the more they do leisure activities.
Breakdown of Alberta Gambling Revenues
Alberta allows VLTs, casino slot machines, and electronic bingos. Among the three, VLTs saw the best growth in 2018 with a 1.9 percent increase. On the other hand, electronic bingo only grew 0.4 percent. On the downside, slot machines dropped 0.6 percent.
VLTs revenues often move with the economy because they are distributed widely throughout Alberta. At present, there are around 900 lounges, bars, and other businesses with video lottery terminals. In contrast, you can find slot machines in only 28 places in the province.
Alberta gambling revenues and the province’s share from the Western Canada Lottery Company goes to the lottery fund. For 2018, the fund got $1.4 billion. The government allocates it for various sectors including health care, education, and a lot more.
Keep in mind that Alberta gambling revenues don’t include casino table games, pull tickets, raffles, and bingos. They fall under a separate category called charitable gaming. In 2018, charitable gaming revenue was $331.2 million. In addition, the government uses the proceeds for religious and charitable purposes. According to a report, charitable gaming funds support various services and programs by non-government organizations.