Home > Finance > Ontario igaming and player spending tick upwards in Q3

Ontario igaming and player spending tick upwards in Q3

| By Marese O'Hagan
Gaming revenue in Ontario grew 22% quarterly to CA$658m (US$486.8m/£384.3m/€448.4m) in its third quarter ended 31 December 2023.
iGaming Ontario Q3

The revenue encompasses all cash wagers, including rake fees and tournament fees gathered in the province, which was officially regulated in April 2022. Ontario is regulated by iGaming Ontario, a subsidiary of Alcohol and Gaming Commission of Ontario (AGCO).

The market is home to a number of heavy-hitter operators, including PointsBet, Rush Street Interactive, Bet365 and FanDuel.

Player spending during the third quarter increased by 21.1% to $17.2bn compared to the second quarter of the financial year. This excludes promotional wagers.

Online casino games made up $471m of the total gaming revenue for the quarter, 15.7% more than in Q2. Betting accounted for $171m of the total, while peer-to-peer poker represented $17m in revenue.

Looking at the total wagers, online casino accounted for $13.7bn, representing 79% in all. A total of $3.1m was wagered through betting and $431m was generated through peer-to-peer poker.

Comparisons to Q3 2022-23

Turning to year-on-year comparisons, online gaming revenue was up 44.0% while player spending increased by 49.1%.

The number of operators and gaming websites active in Ontario has also increased. In Q3, 72 gaming websites were active in the province, up by four. The number of operators rose by 13 to a total of 49.

The average number of active player accounts hit 1.2 million, an increase of 31.8% yearly, while the average monthly spend per active account was recorded at $186 – an uptick of $19.

During the third quarter, the AGCO issued a fine totalling $150,000 to PointsBet Canada for breaching responsible gambling provisions. In November, iGaming Ontario announced that it would launch a request for proposals regarding the development of a self-exclusion service in the province.

Also in November, Penn Entertainment agreed for its ESPN Bet and theScore Bet brands to become the official sports betting partners of the National Hockey League.

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