Ontario Sports Betting Reports Strong Third Fiscal Quarter

According to statistics released by iGaming Ontario, total gaming revenue in Ontario's sports betting market increased by 71% in the third fiscal quarter of 2022. IGaming Ontario (iGO) is a division of the Ontario Alcohol and Gaming Commission (AGCO) that manages and conducts all internet gaming in the province.

Total gaming revenue was $457 million from October 1 to December 31, up from $267 million in the second quarter (July to September). This figure is up 182% from the first quarter ($162 million). The average spend per month, per active player account was $167. This is an 18% jump from the second quarter.

Ontario's sports betting industry officially opened on April 4, with total wagers exceeding $21.6 billion and total gaming revenue exceeding $886 million.

A spokesperson from Ontario online betting business, betting.bet, commented:

"The number of operators increased by 50% from the second quarter to 36. The 68 gaming websites as of December 31 represented a 62% increase. Due to this spike in the number of operators joining the industry, Ontario betting became instantly more competitive. With more promotions and tempting odds, players have become increasingly engaged. With the Canadian betting industry generating huge sums in province taxes and employing 135,000 individuals, this is a positive step forward for the Ontario market". 

Mr. Rutsey, President and CEO of the Canadian Gaming Industry (CGA), concurs: 

“Gaming has grown significantly over the past decade to become an essential pillar of the entertainment industry in Canada" he comments.. 

“It is now demonstrably clear how the majority of spending in the industry goes directly back to Canadians in the form of paycheques, construction in communities, and revenues for the programs and services and charities that we value.”