iGaming Ontario has declared the best quarter so far for the Canadian province’s igaming market in the third quarter of its 2023-2024 fiscal year.
For the period from October 1, 2023, to December 31, 2023, iGO reported new highs reached in wagers made, revenue and active accounts since its launch in April 2022.
During its Q3 period, 49 operators across 72 gaming websites in Ontario accepted CAD$17.2bn in wagers (excluding promotional), up on the previous quarter’s total by 21 per cent (Q2: $14.2bn).
Gaming revenue for the quarter came in at $658m, a 22 per cent improvement over the previous quarter (Q2: $540m). This figure 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 Q3, iGO noted there were about 1.2 million active player accounts, which is up on the previous quarter’s 943,000. These players had an average monthly spend of $186, down on Q2’s $191.
Data from the Ontario igaming regulator does not include any figures from Ontario Lottery and Gaming, one of the largest operators in the province.
Taking a look at the Canadian province’s performance across different igaming verticals, casino games led the way, followed by betting and peer-to-peer poker.
Casino games – slots, live and computer-based table games and peer-to-peer bingo – generated $13.7bn in wagers, which was 79 per cent of the total Q3 wagers. Revenue produced by the vertical amounted to $471m, accounting for 71 per cent of the total Q3 revenue.
Betting – sports, esports, proposition, and novelty bets, as well as exchange betting – reported nearly $3.1bn in wagers, which was 18 per cent of the total Q3 wagers. Revenue amounted to $171m, coming in at 25 per cent of the total Q3 revenue.
Peer-to-peer poker operations produced $431m in wagers, accounting for 2.5 per cent of the total Q3 wagers, and $17m in revenue, which was also 2.5 per cent of the total Q3 revenue.
In 2024, iGO is looking to improve its protection of players through the creation of a centralised self-exclusion to allow players to self-exclude from all igaming operators in the Canadian province through a single registration.
A request for proposals for a centralised self-exclusion solution is expected to be issued by the regulator soon.
