The regulated iGaming market in Ontario, Canada, has shown remarkable growth as iGaming Ontario (iGO) released its third public report highlighting the market’s performance since its launch on April 4, 2022. The report covers the third quarter of market operations, ending on December 30. This quarter has witnessed substantial increases in wagers, revenue, active players, and operator participation, underscoring the burgeoning success of Ontario’s online gaming landscape.
Surging Wagers and Revenue:
The third quarter of the 2022-23 fiscal year marked a significant milestone, with Ontarians wagering an impressive CAD$11.5 billion on iCasino, mobile sports betting, and online poker wagers. This staggering figure represents a remarkable 91 per cent surge from the previous quarter. Furthermore, the quarter’s revenue reached CA$457 million, reflecting a robust 71 per cent increase over Q2. This surge in both wagers and revenue attests to the growing popularity of the iGaming market among Ontarians.
Player Engagement and Spending:
Ontario’s iGaming market saw players intensify their engagement and spending during the third quarter. On average, players spent CAD$167 per month, reflecting an 18 per cent increase compared to the preceding quarter. These figures showcase the sustained interest of players and their willingness to invest in iGaming entertainment.
Diverse Operator Landscape:
The iGaming landscape in Ontario is characterized by a diverse range of operators, including prominent US entities like DraftKings and Bally Bet, international groups such as Entain, and local operators like North Star. The presence of 36 active operators across 68 gaming websites further exemplifies the market’s vibrancy. The participation of both local and global operators contributes to the dynamic and competitive nature of Ontario’s iGaming ecosystem.
Increased Player Base and Engagement:
The report highlights a substantial uptick in player engagement, with 910,000 active players during the quarter. This impressive figure reflects a remarkable 45 per cent increase compared to the previous quarter. The growing number of active players underscores the expanding appeal of iGaming platforms and their ability to attract and retain a diverse range of players.
Future Prospects:
As Ontario’s regulated iGaming market continues to thrive, the future appears promising. The market’s sustained growth, increasing player engagement, and operator diversity bode well for its ongoing success. With ongoing advancements in technology, innovative offerings, and a commitment to providing top-tier entertainment, Ontario’s iGaming landscape is set to remain a focal point of the province’s entertainment options.
The iGaming Ontario report’s findings underscore the remarkable growth and success of the regulated iGaming market in Ontario. The surge in wagers, revenue, player engagement, and operator participation solidifies the market’s position as a vital and thriving component of the province’s entertainment landscape. With a diverse array of operators and a growing player base, Ontario’s iGaming market is poised to maintain its upward trajectory, offering an exciting and dynamic platform for both local and global players.