Ontario records C$162m in revenue through first operational quarter

Greentube has deepened its impact in the Canadian province of Ontario after extending a content partnership with Mobinc.

Ontario has reported its first quarter of gaming operations since the market launched in April, with total revenue coming in at $162m. 

Published by iGaming Ontario, the first public report of the market performance saw total wagers at $4.076bn, which does not include promotion wagers, with the region granting licences to 18 operators and launching 31 gaming websites. 

Furthermore, of the aforementioned gaming revenue, the total comes in cash wagers, including rake, tournament and other fees across all live operators.

Moreover, active player accounts in Ontario, ending June 30, was 492,000, with an average monthly spend per player account said to be $113. 

“Our aim is to be the best gaming jurisdiction in the world and these positive results are an early sign that we’re on our way,” noted Dave Forestell, iGO’s Board Chair. “With a competitive revenue share rate and low barriers to entry, Ontario is an attractive igaming market with a strong player base.”

The Ontario igaming market described in the report includes all igaming operators that executed an operating agreement with iGO between the dates of April 4 and June 30, 2022. 

The first reports from Ontario come after Bonusfinder last year predicted that the region was to be “the most attractive igaming market in North America”. 

Results from its Bonus Index forecasted that a combination of its 15m population, along with an estimated 70 plus brands looking to acquire a licence, will result in a “highly competitive market”. 

Furthermore, the Index stated that the highly competitive market will result in a “battle for players”, which would see casino bonus offerings of $866 and an estimated sportsbook bonus of $395. 

This measured a variety of factors across all current and future regulated sports betting states and provinces across the US and Canada. It included population, number of licences and licensees, betting volume and average bonus offerings across all licensed brands to calculate an overall free bet index score.

At the time, Fintan Costello, Managing Director of Bonusfinder.com, stated: “Our research shows the formula for success for any state or province is a high population, highly competitive market, sizable player volumes and high bonus offers.

“Allowing more licences and more competition encourages all operators to try harder and this is far better for consumers with consistently attractive bonuses and more reasons to play and enjoy playing.”