The regulated Ontario igaming market continues to grow, according to a fiscal-year 2023-2024 quarter-one market performance report released by iGaming Ontario today.
Ontario saw $14 billion in total wagers in the first quarter, from April 1 to June 30. That total wager number doesn’t include promotional wagers (bonuses). That’s up from $13.9 billion in Q4 (Jan. 1 to March 31, 2023).
Ontario recorded $545 million in total gaming revenue in Q1, up from $526 million in Q4. Total gaming revenue means total cash wagers, including rake fees and tournament and other fees, minus player winnings derived from cash wagers. That number doesn’t take into account operating costs or other liabilities.
Currently, 46 operators are licensed and operating in Ontario with 71 gaming websites. In Q4, they were 44 and 75, respectively.
And 920,000 active player accounts have an average monthly spend of $197 per. In Q4, those numbers were 1.01 million and $174.
More specifically in Q1, casino games (slots, live and computer-based tables games, and peer-to-peer bingo) accounted for almost $11.6 billion (83 percent) of total wagers and 72 percent ($392 million) of gaming revenue.
Betting on sports and esports, as well as proposition and novelty bets, accounted for $2 billion (14 percent) of total wagers and $138 million (25 percent) of gaming revenue. Peer-to-peer (P2P) poker accounted for $350 million (3 percent) of total wagers and $15 million (3 percent) of gaming revenue.
As a comparable, in FY 2022-2023 (from market open on April 4, 2022, to March 31, 2023), casino games accounted for nearly $28 billion (78 percent) of total wagers and $940 million (67 percent) of gaming revenue. Betting on sports and esports accounted for 20 percent ($7 billion) of total wagers and $433 million (31 percent) of gaming revenue. P2P poker accounted for $992 million (3 percent) of total wagers and $40M (3 percent) of gaming revenue last year.
