Ontario’s igaming market has continued to grow as the province’s regulator, iGaming Ontario, has reported an uptick in both total wagers and gaming revenue in the second quarter of the 2023-24 fiscal year.
For the period from July 1 through September 30, 2023, iGO has declared total wagers of C$14.2bn, a 132 per cent improvement on FY2022-23 Q2 ($6.04bn), not including promotional wagers.
Q2’s total wagers were also a slight improvement on what was reported earlier this year in Q1 ($14bn).
The quarter’s gaming revenue increased in comparison to the previous year, rising by 105 per cent to $540m (FY22 Q2: $267m) but it was slightly down against the previous quarter (Q1: $545m).
Ontario gaming revenue includes stake fees and tournament fees, amongst others, minus player winnings derived from cash wagers and does not take into account operating costs or other liabilities.
In total, 47 operators and 71 gaming websites were operational during Q2, while around 943,000 players (Q1: 920,000) were active during the period, with an average monthly spend of $191 (Q1: $197).
Per vertical, casino games – slots, live and computer-based table games and peer-to-peer bingo – accounted for nearly $11.9bn (84 per cent) of total wagers and $407m (75 per cent) of gaming revenue.
Betting – sports, esports, proposition and novelty bets, as well as exchange betting – came in at close to $1.9bn (13 per cent) of total wagers and $118m (22 per cent) of gaming revenue.
Meanwhile, peer-to-peer poker stood at $397m (3 per cent) of total wagers and $16m (3 per cent) of gaming revenue.
