Revenue Up 65% For Ontario Sportsbooks And Casinos In Latest Quarter

Written By Dave Briggs on October 13, 2022 - Last Updated on October 17, 2022
Gaming revenue in Ontario grew from $162 million in Q1 to $267 million in Q2. Since launching on April 4, revenue has topped $430 million.

The Ontario sports betting and online casino industry has grown exponentially in the second fiscal quarter, according to numbers released by iGaming Ontario.

Since launching on April 4, the industry has already surpassed $10 billion in total wagers in its first six months. And gaming revenue reached nearly $430 million.

From July through September, total online gaming revenue was up 65% in Ontario from $162 million in Q1 to $267 million in Q2.

Additionally, total handle grew by 48% from $4.076 billion in Q1 (April through June) to $6.04 billion. It is important to note that the numbers do not include figures from the Ontario Lottery and Gaming Corp.’s online operations. Nor do they include promotional wagers (bonuses).

The number of active player accounts grew 28% from 492,000 in Q1 to 628,000 in Q2. iGO defines active player accounts as: accounts with cash and/or promotional wagering activity and do not represent unique players as individuals may have accounts with multiple operators.

Finally, the average monthly spend per active player account is up 26% from $113 from April through June to $142 from July through September.

Improvement over initially soft Ontario casino numbers

All this is a marked — and expected — improvement over first-quarter numbers that were underwhelming when compared to the six US jurisdictions that have both online casinos and online sportsbooks. However, some of those states have yet to report September numbers to do a proper comparison, yet, with Ontario’s Q2.

Ontario launched an open iGaming market for sportsbooks and online casinos on April 4.

Combining the first two quarters of operation, Ontario has produced:

  • Total wagers: $10.116 billion
  • Total gaming revenue: $429 million.
  • Average monthly spend per active player account: $127.50

Converting to US dollars using the Bank of Canada exchange rate listed on Thursday, Ontario’s fiscal Q2 numbers are:

  • Wagers: $4.34 billion (does not include promotional wagers (bonuses)).
  • Gaming revenue: $192 million.

Total Ontario iGaming revenue to date in US dollars:

  • Wagers: $7.28 billion
  • Gaming revenue: $309 million.
  • Average monthly spend per active player account: $92

In the first quarter, there were 18 operators and 31 total gaming sites. As of this morning, there are 29 live gaming operators in the province, but some have come online after Q2 ended at the end of September.

iGO’s second quarter report accounted for 24 live operators and 42 total gaming sites. Some operators have multiple sites.

Reports are that as many as 70 gaming operators could be live in Ontario at the peak of the market.

Number of live gaming operators in Ontario

The following gaming operators (listed in alphabetical order) are officially regulated and taking bets in Ontario as of Oct. 13, 2022:

  1. 888
  2. Bally Bet
  3. bet365
  4. BetMGM
  5. BetRivers
  6. BetVictor
  7. Betway
  8. bwin
  9. Cadtree (Jackpot City, Royal Vegas, Ruby Fortune, Spin Casino)
  10. Caesars
  11. ComeOn!
  12. CoolBet
  13. DraftKings
  14. Fallsview
  15. FanDuel
  16. LeoVegas
  17. Nitro Casino
  18. NorthStar Bet
  19. OLG
  20. Party
  21. PointsBet
  22. PokerStars
  23. Rivalry
  24. Royal Panda
  25. SkillOnNet (PlayOjo, SlotsMagic, SpinGenie, KnightSlots sites)
  26. Sports Interaction
  27. theScore Bet
  28. Unibet
  29. WSOP

Ontario is second in number of gaming operators

Home to nearly 15 million people, Ontario is already one of the largest legal gambling jurisdictions in North America. By population, the province ranks fifth behind only California, Texas, Florida and New York.

Also, Ontario is one of only five jurisdictions to offer online casinos, sports betting and poker. And it is the first province to open an online gaming sector.

Compared to all North American jurisdictions where online gaming is legal, Ontario currently is very nearly at the top of the pack in terms of the number of online gaming operators. Only New Jersey, with 33 operators, and Colorado, with 26 (sportsbooks only), have the same number or more.

Number of live online gaming operators in states where it is legal:

  • New Jersey (sportsbooks, casinos and poker): 33
  • Ontario (sportsbooks, casinos and poker): 29
  • Colorado (sports betting only): 26
  • Arizona (sports betting only): 18
  • Iowa (sports betting only): 18
  • Michigan (online sportsbooks, casinos and poker): 15
  • Pennsylvania (sportsbooks, casinos and poker): 14
  • Indiana (sports betting only): 13
  • Nevada (sports betting and poker): 12
  • Virginia (sports betting only): 12
  • New York (sports betting only): 9
  • Tennessee (sports betting only): 9
  • Illinois (sports betting only): 7
  • Louisiana (sports betting only): 7
  • West Virginia (sportsbooks, casinos and poker): 6
  • Connecticut (casinos and sportsbooks): 3
  • Delaware (casinos and poker): 3
  • Wyoming (sports betting only): 3
  • Montana (sports betting only): 1
  • New Hampshire (sports betting only): 1
  • Oregon (sports betting only): 1
  • Rhode Island (sports betting only): 1
Photo by Shutterstock
Dave Briggs Avatar
Written by
Dave Briggs

Dave Briggs is a managing editor and writer for Catena Media. His expertise is covering the gambling industry in Canada with emphasis on the casino, sports betting and horse racing sectors. He is currently reporting on the gaming industries in Canada and Michigan.

View all posts by Dave Briggs
Privacy Policy