Ontario's iGaming Revenue Jumps by 91%

April 4, 2022, marked the date when Ontario embraced online gambling, and expectations soared. Judging by the recent statistics, the sector is thriving, further affirming the province's smart move to regulate the industry.

As per the figures released by iGO (iGaming Ontario), $11.53 billion in bets coursed through Ontario’s online casinos and sportsbooks during Q3 of 2022 (from October 1 to December 31). This stands as a staggering 91% increase compared to the period from July 1 to September 30 (also known as Q2). Note that this sum does not factor in bets made via promotions or bonuses. bonuses .

According to iGO, Ontario's gambling landscape saw $11.53 billion in wagers during Q3 of 2022, stretching from October 1 to December 31. This marks an explosive 91% rise from Q2's numbers of betting action that spanned July 1 to September 30. Don't forget, this total doesn't include promotional wagers or bonuses. online casino The gaming sector’s revenue figures are equally impressive, revealing a collection of $457 million. That’s a notable 71% rise over Q2. It's worth mentioning that these numbers encapsulate cash bets placed at regulated entities, subtracting player winnings as of December 31. This figure also excludes other obligations, such as operational expenses.

From April through June 30 in Q1, consumers placed bets totaling just over $4 billion, while gaming revenue hit $162 million.

Paul Burns, serving as the Canadian Gaming Association's President and CEO, was proud of the iGaming market’s performance in Q1 and predicted an even brighter future. He confidently anticipated that upcoming figures could double the current tallies in the coming quarters.

Highlighting Ontario's burgeoning iGaming landscape, the report indicates that Q3 drew in an additional 280,000 registered accounts. Initially, the Ontario online market for Q1 had 492,000 active accounts, reaching up to 628,000 by Q2. Fast forward to Q3, and that number surged to an astounding 910,000 active player accounts.

More Operators and Player Accounts

Going deeper, the report shows the average spend per player account each month. Unsurprisingly, this amount has been on the rise, initiating at $113 in Q1 and ascending to $142 in Q2. By Q3, expenditures per player account climbed to around $167, marking an 18% rise from Q2. gambling Examining the ecosystem of gaming sites, there are currently 36 operators hosting 68 gaming platforms in the province. Compare this to Q2, where 24 operators managed 42 sites, reflecting a solid 62% increment. Back in Q1, only 18 operators were running 31 gaming websites.

Ontario has long been a lucrative venture for offshore operators, contributing billions to the unregulated grey market. However, the scene shifted as eligible operators transitioned to a regulated status under the Alcohol and Gaming Commission of Ontario when the market officially blossomed.

The newest entrant to Ontario's flourishing iGaming market is Rootz, known for popular brands like Wildz, Caxino, and Wheelz. Not long before, Markor Technology secured its position, bringing its slot and live games portfolio to the Canadian stage.

Ontario's AGCO is on the move to appoint a fresh face to lead their Board.

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