iGaming Ontario Reports Another Record-Breaking Quarter as Online Casinos Dominate

iGaming Ontario has released its latest quarterly revenue report breaking down the figures by sector for the first time.
83% of all bets made at online casinos

According to the report, total wagers made throughout Q1 of FY23-24 (April 1st – June 30th) came to CA$14 billion. This represented a 243% increase from the $4.076 billion reported in Q1 FY22-23.

Combined revenue for the period came to CA$544 million, a new record for the province and a 236% increase on the CA$162 million reported a year ago. This was also a 3.6% increase on the CA$526 million reported in the previous fiscal quarter.

The number of active player accounts grew by 87% from 492,000 to 920,000 while the average monthly spend per active player account jumped by 74% from CA$113 to CA$197.

Meanwhile, sports betting operators reported accepting CA$2 billion in wagers during the reporting period representing 14% of all betting activity. Combined revenue from online sportsbooks came to CA$138 million during Q1 accounting for 25% of all iGaming revenue.

With iGaming operators taxed at 20% of reported revenue, Ontario collected approximately CA$109 million, although this figured was not included in the report.

Ciaran McEneaney

Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.