Ontario handle tops C$6bn in fiscal Q2 as regulated market prospers
Twenty-four operators take C$267m in revenue between July and September
Ontario’s total igaming and sports betting handle grew to C$6.04bn during fiscal Q2 2022, according to the latest data released by iGaming Ontario.
The figure, which does not include promotional wagers, is up almost C$2bn (47%) from that taken by operators in the period April 4 and June 30, the first quarter of operation following the regulated market launch.
Total gaming revenue in the period, inclusive of cash wagers, rake fees, tournament fees, and other fees across all regulated operators minus winnings amounted to C$267m, up 65% from Q1.
In tandem with the growth in revenue and handle, the number of operators in the province also grew, increasing to 24 operators utilizing 42 websites.
There were a total of 628,000 active player accounts operating in Ontario during the period, with an average monthly spend per active player of C$142.
These figures do not include data from the province-run Ontario Lottery and Gaming (OLG) and numbers are unaudited and subject to adjustment.
The news comes as unregulated operators face a race against time to gain licenses before October 31, when the provincial regulator, Alcohol & Gaming Commission of Ontario (AGCO), will end its transition period.
The transition period, agreed before the market launched in April, is meant to encourage those operators who have previously worked under grey market conditions to move to the regulated market.
Any operator found to be soliciting players after October 31 faces the prospect of being prosecuted by AGCO under the Canadian Criminal Code.
Following this deadline, it is expected that the Ontario market could swell to as many as 70 licensed operators by the end of 2022.