Ontario's Online Gaming Surpasses Sports Betting
New figures show that wagers on online casino games in Ontario have surpassed those of sports betting. Data from iGaming Ontario indicate that Ontarians placed a total of CAD 14 billion in wagers during the second quarter of 2023. Of this amount, about CAD 11.6 billion was on casino games, while CAD 2 billion was on sports betting, with the remaining CAD 350 million going towards peer-to-peer poker.
These numbers are offering an insight into the competitive space of online casino gambling and online sports betting, especially considering that the Ontario government legalized and regulated the iGaming market in April 2022, becoming the first province in Canada to do so.
Analysts hypothesize that the expansion of regulated online gambling from physical casinos to mobile and desktop screens has attracted casual players in Ontario, possibly those who previously engaged in in-person gambling. The province boasted more than 900K active player accounts in the most recent three-quarter period.
The wagers from April to June yielded revenues of CAD 545 million. In comparison, during the same quarter last year, the inaugural quarter of operations, the market generated CAD 162 million.
Ontario Setting the Pace in Canada
Currently, more than 60 online casinos and betting sites are holding legal licenses in Ontario. No other province has approached this number yet.
For context, the latest fiscal year (April 2022 to March 2023) saw a total of CAD 35.6 billion in wagers. Nearly CAD 28 billion during that period was spent on casino games and peer-to-peer bingo. This sum is roughly four times higher than the CAD 7 billion spent on sports betting.
The combined gambling activities in that first year generated CAD 1.4 billion in gaming revenues. The Ontario government garnered a roughly CAD 260 million share of gaming revenues during this time.
Proud of Leading in Problem Prevention
The Ontario government emphasizes its success with the market, but also highlights the measures in place to support problem gambling and protect consumers.
Andrew Kennedy, a representative of the provincial attorney general, emphasized that the province allocates CAD 31 million annually for problem gambling. He added that CAD 25 million of this amount goes to treatment programs, while CAD 6 million is designated for education and prevention efforts.
Kennedy remarked, "We are a national leader through our online gaming market."
Experts and government officials are cautious about the recently released IGO numbers since they provide a peek into the extent of online gambling as opposed to prior to the inception of a regulated market. One of the initial apprehensions about moving to a legal market was the possibility of an increase in gambling activity.
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Source: www.casino.org
