Ontario's Online Gambling Revenue Soars, Doubling Year-On-Year

Date: 2023-10-13 Author: Dima Zakharov Categories: EVENTS
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Explosive Growth in Ontario: 
Ontario's online gambling industry has achieved unprecedented growth, doubling its revenue compared to the previous year. In the second quarter of the year, the province saw a whopping CA$540 million pouring into the industry, signifying its flourishing status.

iGaming Thriving: 
The total revenue generated by iGaming in Ontario for the three months leading up to September 30 increased by 105%, rising from $267 million in the same period the previous year. This surge is largely attributed to the regulated market's opening in April 2022, ushering in a new era of online gambling.

Breakdown of Revenue:
Out of the total revenue generated, a substantial $407 million was attributed to online casino activities in Ontario. Additionally, $118 million was collected from internet sports betting, while $16 million came from online poker. The revenue calculation includes all cash wagers, rake fees, tournament fees, and other fees, with player winnings deducted.

Player Spending Soars: 
The increase in revenue is accompanied by a remarkable 132% rise in player spending. In the second quarter, total iGaming wagers in Ontario reached an astounding $14.20 billion, far surpassing the $6.04 billion spent in the same period the previous year. Consumer expenditure was distributed with $11.90 billion on internet casino games, $1.90 billion on sports betting, and $397 million on online poker. It's important to note that player spending excludes promotional wagers, such as bonuses and free bets.

Expanding Market:
The data, published by the local regulator, iGaming Ontario, also highlights the increasing number of active operators in the province. In the second quarter, Ontario saw 47 licensed operators, a significant increase from the previous year's 24. Players now have access to 71 websites operated by licensees, compared to the 42 available in the second quarter of 2022.

Rising Player Accounts:
The number of active player accounts also saw a substantial increase, rising from 628,000 to 943,000. Active player accounts encompass those with cash or promotional wagering activity during the period, though they do not represent unique players, as individuals may hold accounts with multiple sites and operators.

Higher Monthly Spend:
Additionally, iGaming Ontario reported that the average monthly spend per active player account in the second quarter was $191, surpassing the previous year's average spend of $142.

Unique Ontario Regulation:
It's important to note that Ontario is the sole Canadian province with a regulated iGaming market, which was launched in April 2022. While the province thrives in online gambling, other Canadian provinces prohibit online gaming, leaving only provincial lottery corporations with a de facto monopoly.

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