- Casino
- By State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- By State
- Slots
- Poker
- Sports
- Esports
Ontario Q2 2022 iGaming Handle is CA$6B, Up CA$2B from Q2
Ontario launched online gambling on April 4, 2022, and while its first full quarter performance received a rather lukewarm welcome, the results for the second quarter of FY22-23 seem quite a bit more inspiring.
Q2 Results Are Great
Ontario’s iGaming market includes online casinos, online sports betting, and online poker, and iGaming Ontario (iGO) released the Fiscal Year 2022-2023 Q2 market performance report on Wednesday, October 12. It contains information about the total wagers placed, what the market produced in terms of total gaming revenue, active operators, active player accounts, the average monthly sum spent per active account, and more.
According to the report, the results for the second quarter – July 1 through September 30, 2022 – amount to a CA$6.04 billion (US$4.37 billion) handle, CA$267 million (US$193.19 million) in total gaming revenue. This is up from the first quarter results, which were CA$4.07 billion ($3.11 billion at the time) in total wagers places and CA$162 million ($123.8 million at that time) in total gaming revenue. That’s more than a 48% increase in betting handle and almost 65% in total gaming revenue.
There’s also an increase in the number of operators licensed in Ontario, jumping from 18 to 24 between the two quarters, which also led to more websites where bettors can play, which increased from 31 in Q1, to 42 in Q2. Of course, with more diversity and options for players, and as the industry picks up steam in general, the active player base also saw a noticeable uptick, growing from 492,000 to 620,000. A slight uptick in the average monthly spend per active player was reported, up CA$29 – from CA$113 in Q1 to CA$142 in Q2.
Q3 Market Outlook
The results from Q1 got a somewhat lukewarm reception, back when they were announced by iGO in August. This was mostly because – as good as the results were – they were still well below the more optimistic projections, especially ones made with US market comparisons in mind. So, a comparison based on the results that New Jersey had made – being the most prominent online gambling market in the US – might paint a rather underwhelming picture.
However, the Q2 results show that Ontarians are getting accustomed to iGaming rather well, and operators seem to be following generally the same trend. Projections for Q3 are also rather good, as Ontario approved nine new iGaming brands at the beginning of this month. This, along with the market growing and maturing, should bolster the Q3 results nicely.
While more operators mean more entry points for players, it’s important to note that iGO considers only the total number of active accounts that have cash and/or promotional betting activity on them. This means that the number reported is not representative of the total number of unique players, as a player can have multiple personal accounts with multiple operators.
Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at GamblingNews.com is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.
Previous Article
Sports
October 13, 2022
Mandalay Bay Convention Center Receives $100 Million Glow Up
Must Read
Sports
November 29, 2024
Cyril Gane vs. Alexander Volkov UFC 310 Odds, Time, and Prediction
More Articles
Sports
November 28, 2024
GiG Enters Mexican Market with LuckyDays Partnership
Sports
November 27, 2024
Suspended Soccer Referee Faces Investigation over Alleged Corruption
Sports
November 27, 2024
Andrew Yang Draws Parallels Between Sports Wagering and Taxes
Sports
November 26, 2024
Massachusetts Ponders Sports Betting Kiosks in Bars and Restaurants
Sports
November 26, 2024
Assault Accusations Put McGregor Among Controversial Fighters
Sports
November 21, 2024
Analysts: Paul vs. Tyson to Bolster Sportsbooks’ Q4
Industry
November 20, 2024
New Legislation Overhauls Ontario’s iGaming Landscape
Sports
November 20, 2024
Australian Gambling Groups Pay AU$400 for IDs, Raising Concerns
Sports
November 19, 2024
Tyson-Paul Was a Huge Hit with Bettors
Industry
November 18, 2024
Recent Report Warns of Public Health Risks from Online Gambling Boom
Legal
November 18, 2024
MLBPA and FanDuel Agree to Dismiss Image Rights Violations Lawsuit
Sports
November 16, 2024
Snooker Legend Mark King Banned for 5 Years for Match-Fixing