Ontario iGaming Market Reports CAD$4B Handle for First Quarter

Nearly five months after regulated iGaming and online sports betting launched in Ontario, we’re finally getting to see just how big the market is in Canada’s most populous province. Canadian sports media company theScore unveils a billboard in Toronto’s Yonge-Dundas Square in February to let passersby know that sports betting and iGaming would launch in Ontario in April. On Tuesday, iGaming Ontario released the first quarterly update, announcing that bettors in Canada’s most populous province bet more than $4 billion from the April 4 launch date through the end of June. (Image: theScore) On Tuesday, iGaming Ontario (iGO), a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO) responsible for managing licensed online sports betting and casino operators, issued its first quarterly report of activity.

According to the report, Ontario bettors wagered CAD$4.08 billion (US$3.11 billion) from the April 4 launch through June 30. The 31 websites offered by 18 operators reported total gaming revenues of CAD$162 million (US$123.8 million). 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,” Dave Forestell, iGO’s board chair, said in a statement. “With a competitive revenue share rate and low barriers to entry, Ontario is an attractive iGaming market with a strong player base.” Those handle and revenue numbers were generated through approximately 492,000 active accounts that wagered either with cash or a promotion during the quarter. The organization noted that the number of unique players is likely smaller since bettors may have created accounts with multiple gaming apps.

Based on the number of accounts, the average monthly spend per account was CAD$113 (US$86).

The iGO figures also do not include PROLINE+, the sports betting and iGaming app of the Ontario Lottery and Gaming Corporation. Early Ontario Numbers Lag

While iGO touted the initial metrics as a suggestion that Ontario gamblers want player protections provided by a regulated gaming entity, some analysts and experts found the numbers disappointing.

Capt. Jack Andrews compared the revenue figures of Ontario, a province of 14.5 million, with Michigan, New Jersey, and Pennsylvania – states […]

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