Growing iGaming Revenue in Ontario
Ontario, Canada, has witnessed a remarkable increase in its iGaming revenue during the third quarter of 2023. The total gaming revenue for this period reached an astounding CA$658 million, reflecting a substantial 22% quarterly growth. This surge encompasses all cash wagers, including rake fees and tournament fees collected in the province, which officially embraced iGaming regulations in April 2022. Notably, iGaming Ontario, under the supervision of AGCO, oversees the iGaming sector in Ontario.
Heavy-Hitter Operators Dominate
Ontario's iGaming market is home to several major players in the industry, including PointsBet, Rush Street Interactive, Bet365, and FanDuel. These operators have contributed significantly to the province's thriving iGaming landscape.
Surge in Player Spending
Player spending during the third quarter of 2023 also saw an impressive rise, increasing by 21.1% to a substantial $17.2 billion compared to the previous quarter. This increase excludes promotional wagers, further emphasizing the growing popularity of iGaming in the region.
Diverse Gaming Landscape
Online casino games played a substantial role in the total gaming revenue for the quarter, contributing $471 million, marking a 15.7% increase compared to the previous quarter. Betting accounted for $171 million of the total revenue, while peer-to-peer poker brought in $17 million.
Year-on-Year Comparisons
Comparing the results to the same period in the previous year, online gaming revenue surged by 44.0%, while player spending witnessed a remarkable 49.1% increase. This substantial growth indicates a continuously expanding iGaming sector in Ontario.
Increasing Operators and Players
The number of operators and gaming websites active in Ontario has also increased. During the third quarter, there were 72 active gaming websites in the province, a gain of four. Additionally, the number of operators rose by 13, totaling 49 in the region.
Rising Player Engagement
Active player accounts have soared, reaching 1.2 million on average, marking a substantial yearly increase of 31.8%. Moreover, the average monthly spend per active account saw an uptick, reaching $186, an increase of $19.
The thriving iGaming industry in Ontario continues to attract both players and operators, with significant revenue growth and increasing player engagement. These developments indicate a promising future for the province's iGaming sector.