Ontario’s iGaming Handle Increases by 91%

Lisa Cheban | 17 February, 2023 12:19 | Last update on: 17 February, 2023 12:19

When Ontario legalized online gambling on April 4, 2022, a lot was expected from the market. If the latest numbers are anything to go by, the industry is showing tremendous growth. This further justifies the Canadian province’s decision to regulate the activity.

According to the numbers announced by iGO (iGaming Ontario), the total number of bets placed in Q3 of 2022 (October 1 to December 31) on Ontario’s online casino sites and sportsbooks was $11.53 billion. These numbers represent a whopping 91% increase from July 1 to September 30 (or Q2). And by the way, this amount doesn’t include promotional bets or bonuses.

The report further reveals that $457 million was collected in gaming revenues, marking an impressive 71% increase from Q2. The figures represent the cash wagers at regulated operators minus player winnings through December 31. Also, the figure doesn’t include other liabilities like operating costs.

In Q1 of the year (April to June 30), gamblers wagered total cash of just over $4 billion, and the gaming revenue stood at $162 million.

Paul Burns, the Canadian Gaming Association President and CEO, said that the iGaming market was strong in Q1 and will only get stronger. The official was upbeat that the numbers will double what’s currently being registered in the next quarter.

More Operators and Player Accounts

To add credence that the Ontario iGaming market is booming, the report says that Q3 saw over 280,000 more accounts registered. In Q1 of the Ontario online gambling market, there were 492,000 active accounts, with Q2 maxing out at 628,000. This number ballooned in Q3 to reach 910,000 active player accounts.

The report goes on to reveal the average monthly spend for each player account. As expected, the number has been steadily increasing, starting at $113 in Q1 before hitting $142 in Q2. Q3 saw each player account spend approximately $167, an 18% increase from Q2.

As for the number of operators in the market, 36 of them currently run 68 gaming websites in the province. Compared to Q2, there were 24 operators running 42 gambling sites, an impressive 62% increase. By the end of Q1, there were only 18 operators with 31 gaming websites.

For decades, Ontario has been an attractive multi-billion-dollar black market for offshore operators. That was before some operators were allowed to stay in the grey area before getting full accreditation from the Alcohol and Gaming Commission of Ontario when the market was launched.

The latest operator to join the booming iGaming market in Ontario is Rootz. This company operates popular gambling brands, including Wildz, Caxino, and Wheelz. Just a month earlier, US-based Markor Technology got the nod from the operator to offer its table games, slots, and live titles in the Canadian province.

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