iGaming Ontario, the local government agency that is in charge of the online gambling market in Canada’s most populous province, has announced that online casinos accounted for more than 70 percent of revenue in the first quarter of the financial year.
The three months which ended on June 30 brought wagers of 14 billion Canadian dollars from the players in the province of Ontario, and 80 percent of those wagers were made in licensed online casinos while the rest went on sports bets.
The total wagers amount is a significant improvement from the 4.1 billion Canadian dollars that were staked in Ontario in the second quarter of 2022, the first since the opening of the gambling and sports betting market to private operators on April 4, 2022.
After deducting the player winnings, operators generated revenue of 545 million Canadian dollars and the figure represents a vast increase of 236 percent compared to the same quarter of the previous year.
The number of operators has also gone up, at the moment the province has 46 licensed casino and sports betting operators. However, the number of active websites dropped to 71. The latest count shows around 920,000 player accounts active in the first quarter of the fiscal year, with an average spend of 197 Canadian dollars per month.