Ontario iGaming market expands in Q4 2022

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Ontario iGaming market expands in Q4 2022

The online gambling industry in the Canadian province of Ontario has been on the rise lately, expanding by nearly CA$200m in revenue since September of 2022.

As iGaming Ontario reports, the province’s gambling market has been expanding rapidly. It has demonstrated a significant expansion in both the number of operators and their revenue in the fourth quarter of the year (the third quarter of the Canadian government’s fiscal year), with the headline figure being an over 40% increase in income compared to the previous quarter.

Starting with the industry’s revenue statistics, it made about 457 million Canadian dollars in the last quarter of 2022. This was up from the previous quarter’s 267 million, which in turn was also a significant jump compared to the second quarter of the year (first quarter of the fiscal year), which was at 160 million Canadian dollars.

The industry’s revenue figures in the quarter came from a total of 11.5 billion Canadian dollars worth of bets. This number was nearly double that of the previous quarter’s, which was recorded at just over 6 billion dollars.

Furthermore, the number of players grew as well, with active player accounts being recorded at just over 900 thousand. This number is up from Q3’s 630 thousand and Q2’s 500 thousand by quite a bit. Average player spending went up over the regulated gambling market’s lifespan as well, starting off at 113 Canadian dollars per month and growing to 167 dollars per month at the end of 2022.

The number of operators in the province also experienced massive expansion, going from just 18 at the end of June to 24 at the end of September and finally 36 at the end of 2022. That constitutes for 33% and 50% growth from Q2 to Q3 and Q3 to Q4 respectively.