During the recent Canadian Gaming Summit, Martha Otton, the executive director of iGaming Ontario, shared insights with an engaged audience of industry professionals regarding the inaugural year of a competitive and regulated igaming market in the province.Ontario betting sites .
Otton expressed, 'I believe we are achieving remarkable results here.' iGaming Ontario (iGO), functioning under the Alcohol and Gaming Commission of Ontario (AGCO), is responsible for overseeing and managing igaming activities within the province.
'When I reflect on the government's objectives,' she noted, 'the primary aim was to enhance entertainment options for the residents of Ontario. An additional goal was to strengthen player protection measures, which are now exemplary. We mandate that all our operators implement responsible gaming checks. It was crucial to reclaim some of the revenue that had been exiting the province in the past. The emergence of this sector has also led to the creation of well-paying jobs in the area. I can confidently say that our first year has been extremely successful.'
Breaking Down the Numbers
The recently released Q1 market performance report for FY 2023-24 by iGO serves as further validation of the positive trends.
To summarize: Ontario recorded a staggering $14 billion in total wagers across all gaming activitiesOntario online casinos and sports betting during Q1 – from April 1 to June 30. This figure excludes promotional bets (bonuses) and represents an increase from $13.9 billion in Q4 (covering January 1 to March 31).
In Q1, Ontario generated $545 million in total gaming revenue, rising from $526 million in Q4. Total gaming revenue consists of the sum of cash wagers, including rake fees, tournament fees, and other related fees, subtracting player winnings from cash wagers. This figure does not account for operational expenses or other liabilities.
Currently, Ontario has 46 licensed operators and 71 gaming websites in operation. In Q4, these numbers were 44 operators and 75 gaming sites, respectively.
There are 920,000 active player accounts in the province, with an average monthly expenditure of $197 per account. In the previous quarter (Q4), those figures were higher, with 1.01 million accounts and an average spend of $174.
Specifically, during Q1, casino gaming, which includes slot machines, live dealer games, computerized table games, and peer-to-peer bingo, represented almost $11.6 billion (83%) of total wagers and generated 72% ($392 million) of the gaming revenue.casinos days Ontario Wagering on sports, esports, as well as novelty and proposition bets accounted for $2 billion (14%) of the total wagers, contributing $138 million (25%) to gaming revenue. Peer-to-peer (P2P) poker constituted $350 million (3%) of total wagers and generated $15 million (3%) in revenue.
Esports Not To Be Forgotten
'We have encountered numerous unexpected developments,' Otton remarked. 'The sheer scale of the market is impressive. Many of the 36 operators currently active had established their presence in Ontario prior to the introduction of the regulated framework, enabling them to retain their existing player base.'
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