Second year of online gambling in Ontario generates $63bn in wagers

Second year of online gambling in Ontario generates $63bn in wagers

According to a report from iGaming Ontario, revenue was $2.4bn.

Canada.- The second year of regulated sports betting and igaming in Ontario generated $63bn in wagers and $2.4bn in revenue, according to a report from iGaming Ontario. Legal online market opened on April 4, 2022.

Casino wagers totalled $51.7bn, up 88 per cent year-on-year. Casino gaming revenue was $1.8bn, up 89 per cent. Sports bets totalled $9.7bn (up 39 per cent) and generated revenue of $588m, a 36 per cent increase over 2022-23.

A record fourth quarter between January 1 and March 31 resulted in $17.8bn in wagers. Gaming revenue for Q4 was $690m, up 72 per cent from the first year.

iGaming Ontario executive director Martha Otton said: “With $63bn in wagering and $2.4bn in gaming revenue, the second year of Ontario’s igaming market is more than 70% bigger than the first. As the market matures into its third year, I look forward to building on this foundation of success with operators and other partners as they invest in Ontario so that Ontarians can continue to play with confidence.”

Earlier this month, the Alcohol and Gaming Commission of Ontario (AGCO) released the results of an IPSOS survey showing that 86 per cent of Ontarians who gamble are using regulated websites. The market has created more than 12,000 jobs in the first year of operation.

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