The iGaming market in Ontario continues to see remarkable growth, with the latest financial report delivering a jaw-dropping revelation of the sector’s explosive growth. According to data recently unveiled by the local regulator, iGaming Ontario, the province saw a remarkable doubling of online gambling revenue, reaching an astounding CA$540 million in the second quarter. This exceptional surge highlights the booming popularity of online gaming in the region and paints a promising picture of the industry’s future.
When comparing this year’s Q2 to the corresponding period in the prior year, the figures indicate an impressive expansion. The total iGaming revenue more than doubled, skyrocketing by an astonishing 105% from $267 million in Q2 of 2022. It’s worth noting that this remarkable growth comes in the wake of the regulated market opening in April 2022.
A Breakdown Of The Reported Revenue
Breaking down the revenue, a significant portion of $407 million was attributed to casino activities within Ontario. Meanwhile, a substantial $118 million was generated through internet sports betting, and another $16 million was added to the tally from online poker. The reported revenue encompasses the full spectrum of iGaming, including rake fees, cash wagers, and other charges, after deducting player winnings.
The substantial revenue figures were accompanied by a significant boost in player spending. During Q2, players in Ontario collectively wagered a staggering $14.20 billion, marking a notable 132% increase from the $6.04 billion spent during the same period in the previous year. These wagers were distributed across the expansive iGaming landscape, with the lion’s share, $11.90 billion, going towards internet casino games. Sports betting claimed a substantial $1.90 billion, while online poker carved out its own niche with $397 million. It's important to highlight that the player spending data excludes promotional wagers, such as free bets andbonuses.
As time passes, more provinces are loosening the reins when it comes to online gambling regulations, thus allowing players to enjoy this pastime, provided it’s done so responsibly. Moreover, for newcomers who are still seeking trustworthy providers to register at can find dozens of regulated operators courtesy of NoDepositFan.
Ontario’s Booming Online Gaming Market
iGaming Ontario’s report further revealed an exponential expansion of Ontario’s online gaming market. The increase was notably observed in the number of active operators. During Q2, Ontario witnessed an impressive 47 licensed operators in action, marking a significant increase from the 24 operators present in the previous year. This influx of operators vastly broadened the array of choices available to players, as they enjoyed access to 71 websites run by these licensees during the quarter, a significant leap from the 42 available in Q2 of 2022.
Moreover, accounts of active players within the province soared from 628,000 to 943,000. These active player accounts represent individuals engaged in cash or promotional wagering activity during the period, though these figures do not necessarily signify distinct players, as some individuals might have accounts with various sites and operators.
Additionally, the data also highlighted that in Q2, the average monthly expenditure per active player accountreached an impressive $191, marking a considerable uptick from the previous year’s $142 average spend.
These staggering statistics vividly highlight the increasing success and popularity of Ontario’s regulated iGaming market, which remains unique in Canada. While the province has experienced substantial growth in this industry, online gaming is predominantly restricted in Canadian provinces that do not fall within the provincial lottery corporations. As a result, the growing iGaming industry in Ontario continues to flourish beyond the purview of Canadian authorities in regions outside of Ontario.
The remarkable performance of Ontario’s iGaming market not only sets a new standard for the industry but also serves as a source of inspiration for the broader Canadian gaming landscape.