By Canadian Press

Ontario’s sports-betting market experienced boost in third fiscal quarter

Jan 26, 2023 | 10:26 AM

TORONTO — Ontario’s sports-betting market experienced a 71 cent increase in total gaming revenue in the third fiscal quarter, according to figures released Thursday by iGaming Ontario.

From Oct. 1 through Dec. 31, total gaming revenue was $457 million compared to $267 million in the second quarter (July to September). And that figure is up 182 per cent from the opening quarter ($162 million).

Ontario’s sports-betting industry opened fully April 4 and has surpassed $21.6 billion in total wagers while total gaming revenue is $886 million.

IGaming Ontario (iGO) is a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO). It conducts and manages internet gaming in the province.

The figures also show total wagers of $11.53 billion, a 91 per cent increase over the second quarter ($6.04 billion). The first-quarter handle was $4.076 billion.

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That doesn’t include either promotional wagers (bonuses) or figures from the Ontario Lottery and Gaming Corp.’s online operations.

The number of active player accounts grew 45 per cent to 910,000 (compared to 628,000 in the second quarter). Overall, active player accounts are up 85 per cent from the opening quarter (492,000).

IGO defines active player accounts as those with cash and/or promotional wagering activity. They don’t represent unique players as individuals may have accounts with multiple operators.

The number of operators went to 36, a 50 per cent increase over the second quarter. The 68 gaming websites as of Dec. 31 also represented a 62 per cent boost.

The average monthly spend per active player account of $167 was 18 per cent more than in the second quarter.

IGO also stated the numbers in its report are unaudited and subject to adjustment.

This report by The Canadian Press was first published Jan. 26, 2023.

The Canadian Press