The second year of regulated sports betting and iGaming in Ontario produced $63 billion in total wagers and $2.4 billion in revenue, iGaming Ontario reported Wednesday afternoon.
A record fourth quarter between 1 January and 31 March resulted in $17.8 billion in total wagers, sparking a full-year increase of 78% over the market’s first year between April 2022 and April 2023. Total gaming revenue for Q4 was $690 million, paving the way for a 72% hike from Year 1.
“With $63 billion in wagering and $2.4 billion in gaming revenue, the second year of Ontario’s igaming market is more than 70% bigger than the first,” says iGaming Ontario executive director Martha Otton in a news release from the agency. “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.”
Also from the iGO news release:
– Q4 casino wagers were $14.6 billion, with the 2023-24 year ending at $51.7 billion, an 88% increase over 2022-23. Casino games include slots, live and computer-based table games and peer-to-peer bingo.
– Q4 casino gaming revenue was $510 million, with the 2023-24 year ending at $1.8 billion, an 89% increase over 2022-23.
– Q4 betting wagers were $2.7 billion, with the 2023-24 year ending at $9.7 billion, a 39% increase over 2022-23. Betting includes on sports, esports, proposition and novelty bets, as well as exchange betting.
– Q4 betting gaming revenue was $161 million, with the 2023-24 year ending at $588 million, a 36% increase over 2022-23.
– Q4 peer-to-peer (P2P) poker wagers were $446 million, with the 2023-24 year ending at $1.6 billion, a 64% increase over 2022-23.
– Q4 peer-to-peer poker gaming revenue was $19 million, with the 2023-24 year ending at $67 million, a 67% increase over 2022-23.
Earlier this month, on the second anniversary of the province’s legal market, the Alcohol and Gaming Commission of Ontario released the results of an IPSOS survey showing that just over 86% of Ontarians who gamble are using regulated websites.
This week, iGO announced the launch of CasinoTime as the 48th operator to be licensed.
