iGaming Ontario (iGO) has unveiled its market performance report for the initial quarter of the 2023-2024 fiscal year, showcasing robust figures for the province’s regulated online gaming sector. The report reveals impressive wagering activity, revenue generation, and key metrics that shed light on the market’s health and growth since its launch on April 4, 2022.
Wagering Activity:
iGO’s report discloses a substantial wagering volume of $14 billion during the period spanning April 1 to June 30. This underscores the significant engagement of players within Ontario’s regulated iGaming market.
Gaming Revenue Surge:
Gaming revenue for the first quarter reached an impressive C$545 million, reflecting a notable 3.6% increase compared to the previous quarter’s revenue of $526 million. This growth signals a positive trajectory in revenue generation within the regulated online gaming landscape.
Active Player Accounts and Spend:
While active player accounts slightly decreased to 920,000 by the end of the quarter, down from the previous quarter’s 1.01 million, the report highlights an improvement in the average monthly spend per active player account. The figure rose to $197, showcasing a positive trend in player spending habits.
Revenue Breakdown by Gaming Categories:
Casino Games: Contributing significantly to the overall revenue, casino games, including slots, live and online table games, and peer-to-peer bingo, accounted for $392 million in revenue from $11.6 billion in bets. This category constituted 72% of total revenue and 83% of the total wagering volume.
Betting Activities: Betting, covering sports, esports, proposition, and novelty bets, generated $138 million in revenue from $2 billion in wagers.
Peer-to-Peer Poker: This category generated $15 million in revenue from $350 million in wagers.
Market Operators and Websites:
The regulated market in Ontario boasts the participation of 46 operators and 71 gaming websites, highlighting the diverse and competitive landscape that has emerged since the market’s launch.
The robust performance showcased in iGO’s report underscores the success and growth of Ontario’s regulated iGaming market. With substantial wagering activity, increased gaming revenue, and a diverse range of operators, the province’s online gaming landscape appears poised for continued success in the coming quarters.