Ontario iGaming Revenue Skyrockets, More Than Doubles in Q2

Ontario’s online gambling sector experienced explosive growth in Q2, recording a revenue increase of over 100% and a significant surge in player expenditure, signalling a thriving market.

Ontario’s iGaming: Robust Growth Across Diverse Verticals

According to Elys executive chairman Michele Ciavarella, the launch of SportBet.com represents a significant step forward in advancing the North American go-to-market strategy under the new Elys America business unit.

Ciavarella emphasized the platform’s clear focus on the US market, as well as the company’s ambition to establish itself as a major contender in the burgeoning sports betting industry. The company remains dedicated to providing a superior sports betting experience that is distinguished by a blend of innovation, dependability, and a strong emphasis on responsible gaming practices, all to foster player loyalty.

In terms of player spending, total igaming wagers in the second quarter totalled $14.20 billion. This was significantly more than the $6.04 billion spent in the second quarter of last year.

Consumers spent $11.90 billion on online casino games, $1.90 billion on sports betting, and $397 million on online poker. Promotional wagers such as bonuses and free bets are not included in player spending.

Ontario’s iGaming Market Flourishes: Key Highlight

The figures, released by the province’s gaming regulator, also show an increase in the total number of active operators. In the second quarter of this year, Ontario had 47 licensed operators, up from 24 the previous year.

During the quarter, players had access to 71 licensee-operated websites, up from 42 in the second quarter of 2022.

Meanwhile, the number of active player accounts increased from 628,000 to 943,000. Active player accounts have had cash or promotional wagering activity during the time period. Individuals may have accounts with multiple sites and operators, so they do not represent distinct players.

Furthermore, iGaming Ontario reported that the average monthly spend per active player account in Q2 was $191. This was higher than the previous year’s average spend of $142.

Last month, iGB examined the Ontario market and its evolution during the first year of regulation. Only Ontario has a regulated igaming market, which will be operational in April 2022.

Outside of the provincial lottery corporations, which have a de facto monopoly, online gaming is prohibited in other Canadian provinces. As a result, outside of Ontario, NorthStar’s new dot-com venture will be unregulated by Canadian authorities.