Ontario Stars Strong in First iGaming Quarter, But More Expected

Ontario’s iGaming market is everything we have come to expect and perhaps something more. iGaming Ontario or iGO has posted the first quarterly results for the Canadian province, with the surveyed period covering the period between April 4, when the official launch took place, through June 30.

Ontario’s Results Show Good Start of iGaming Operations

In the almost three full months, Ontario bettors placed as much as CA$4.08 billion ($3.11 billion), meaning a monthly handle surpassing one billion easily. The 31 websites available in the province reported combined revenue of CA$162 million ($123.8 million).

Commenting on this development, iGO board chair Dave Forestell welcomed the results and spoke highly of the market and how it has been able to position itself. Forestell did not hide Ontario’s ambitions to be seen as the best iGaming jurisdiction in the world.

Registration numbers also soared during the period with the province seeing as many as 492,000 active accounts placing bets and opting into promotions and other forms of the industry over the surveyed period. The average spend by account each month stood at CA$113 ($86). However, this report only includes the numbers from the private gambling market, and not necessarily PROLINE+, which is controlled by the Ontario Lottery and Gaming Corporation.

 So, what does this mean for Ontario though? The numbers are strong, but they are not as strong as had been hoped for. Ontario has a population of 14.5 million compared to iGaming states in the US, which have fewer populations. For example, New Jersey has 8.9 million residents, but the state pulled in $557.1 million.

Audiences, Total Gaming Revenue, and Time to Catch On

Then again, Michigan has 10 million residents, but the state pulled in $381.3 million. Not least, there is Pennsylvania which has a population of 12.8 million and pulled $441.6 million in gaming revenue. But it’s good to note here that population isn’t everything.

Ontario is a new market that is shifting rapidly to tighter regulatory rules, which means that companies still have a somewhat restricted reach in advertising their products now that they have to abide by tougher rules. Regardless, missing some of the forecasts about the world’s “most valuable iGaming market” is not necessarily bad, nor is it true.

Ontario still needs some time to bring everything online and it most certainly will. The public is still catching up, though. Meanwhile, operators have been on the defensive, having been penalized by the Alcohol and Gaming Commission of Ontario.

At least several operators have fallen under regulatory hits, including BetMGM, DraftKings, Unibet, and PointsBet.