Ontario's IGaming And Sports Betting Market Reports $124M In Revenue During Its First Quarter In Activity

Ontario's IGaming And Sports Betting Market Reports $124M In Revenue During Its First Quarter In Activity

Ontario’s iGaming market saw total wagers of CAD 4.07 billion ($3.09 billion) in the second quarter of the year, leading to a total gaming revenue of CAD 162 million ($123.9 million) for the period ending June 30. The figures cover the first full quarter of market operations since the Canadian province launched legal betting on April 4.

The numbers were announced Wednesday by iGaming Ontario (iGO), a subsidiary of the Alcohol and Gaming Commission of Ontario, the province’s regulator. With 18 active operations, and 31 gaming websites, there are currently more than 425 thousand active player accounts, which spend an average monthly CAD 113 ($86), although these do not represent unique players as individuals may have multiple accounts with different operators.

The Ontario market described in the report includes all iGaming operators that executed an operating agreement with iGO. As such, it does not include the Ontario Lottery and Gaming Corporation’s (OLG) online gaming offering. Additionally, total cash wagers in the report do not include promotions or bonus bets.

Still, whether measured by revenue performance or by the number of active player accounts, these results suggest that people in Ontario “are interested in the strong player and anti-money laundering protections that are being offered in the regulated market,” iGaming Ontario stated.

iGO’s Board Chair Dave Forestell stated that the company’s aim is to “be the best gaming jurisdiction in the world,” and that “these positive results are an early sign that we’re on our way.”

“With a competitive revenue share rate and low barriers to entry, Ontario is an attractive iGaming market with a strong player base,” he further noted. The market is currently home to a number of operators, including US giants such as DraftKings, international groups like Entain, and local operators such as North Star.

iGO intends to release, at minimum, a market report on a quarterly basis. In the future, it also intends to provide reports on metrics related to gaming product segments, player protections, player demographics, and economic impact of the gaming industry, it announced.