Record-breaking $63 billion wagered in Ontario's gambling industry.

The rapid expansion and appeal of iGaming in Ontario are clear, reflected by the notable betting volume in the second legal year of digital gaming.

In the final quarter alone, wagers surged to CA$17.8 billion, rising from $14 billion accumulated during the year's first quarter.

Casino activities dominated the landscape, making up nearly CA$52 billion of the total bets, while various online bets attracted CA$9.7 billion, with peer-to-peer poker drawing around CA$1.6 billion.

Approximately 1.3 million player accounts were active in Q4, categorized by wagering actions, though individual player uniqueness isn't tracked as many enthusiasts have multiple accounts.

On April 4, 2022, Ontario broke new ground by becoming Canada's pioneering province to officially sanction and regulate online casino gaming. Prior to this, the province's internet betting operated in an ambiguous realm, akin to conditions across Canada.

While individuals in Canada might access international online casinos with foreign licenses, such as from Malta or the UK, the lack of a centralized Canadian regulatory entity creates uncertainty about what players can reasonably expect.

With the initiation of the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario (IGO), there was a renewed push to establish clarity.

Now, any casino operator wishing to do business in Ontario must secure a license from IGO and adhere to stringent criteria annually to maintain it. As a consequence, gambling houses licensed in Ontario are held to rigorous standards promoting fair practices and mindful gaming while addressing gambling-related issues. In its inaugural year of opening up regulated online betting, participating players averaged $70 monthly spends on sanctioned platforms, generating substantial revenue for Ontario.

Are other Canadian provinces set to embrace regulation?

The remarkable data emerging from Ontario following two years of regulated iGaming provokes speculation whether other regions will adopt similar frameworks.

A major advantage of regulations is that they furnish a stream of provincial revenue. Presently in other areas of Canada, funds are flowing to offshore sites, leaving local benefits untapped. $1.4 billion Furthermore, utilizing offshore iGaming portals raises valid concerns about trust and accountability. Without a domestic license, recourse actions might be limited for Canadian gamblers.