Ontario’s iGaming Market Is on the Rise Again

Ontario’s iGaming market is once again on the rise, following several quarters of stability. According to iGaming Ontario’s most recent performance report, the market’s metrics have increased across the board.

The report covers the third quarter of the 2023-24 fiscal year, which ran from October 1, 2023, to December 31, 2023.

The period saw Ontarian sports betting enthusiasts wager a total of $17.2 million ($12.75 in USD). This figure does not include promotional wagers and notably represents a 21% quarter-on-quarter increase. This handle resulted in total gaming revenue of $658 million ($487 million), reflecting a 22% increase over Q2.

Casino games, including slots, live and digital table games and peer-to-peer bingo accounted for almost $13.7 billion ($10.15 billion), or 79% of all the wagers. The vertical also accounted for $471 million ($349 million) of gaming revenue, or 71% of the total revenue.

Betting on sports, esports, props and novelty bets, as well as exchange betting, meanwhile, accounted for nearly $3.1 billion ($2.3 billion/18%) of total wagers. Betting also accounted for $171 million ($126.7 million/25%) of the total gaming revenue.

Finally, peer-to-peer poker accounted for $431 million ($319.3 million/2.5%) of all wagers and $17 million ($12.6 million/2.5%) of gaming revenue.

The aforementioned metrics account for Ontario’s 49 legal operators and 72 gaming websites.

There Were 1.2 Million Active Accounts in Ontario

In addition, iGaming Ontario reported that there were about 1.2 million active player accounts in Q3. The body explained that active player accounts are all accounts with cash and/or promotional wagering activity during the time period. This figure does not accurately represent the total number of player accounts since many have accounts with multiple operators.

iGaming Ontario also added that the average monthly spend per active player account stood at $186 ($138).

iGaming Ontario reaffirmed its commitment to continue monitoring the market and sharing a report on a quarterly basis.