iGaming Ontario (IGO) released a report last week looking at the first quarter of online gambling in Ontario. The report detailed $14 billion in online wagers for the first quarter of the 2023-24 fiscal year, April 1 through June 30.
That total produced total gaming revenue of $545 million during that time from 46 operators and 71 gaming sites. The IGO also noted there are now 920,000 active online players in Ontario with an average spend of $197 per month.
Ontario has completely regulated the province’s online gaming market, with an official launch in April 2022. The report shows a slight uptick from the previous quarter, which saw $13.9 billion in total wagers and $526 million in total revenue.
Analyzing the Report
The quarterly report notes that online casino wagering far outpaced other forms of online gaming. Casino accounted for $11.6 billion in total wagers and $392 billion in revenue, up from $11.5 billion but down from revenue of $463 million in the previous quarter. Here’s a look at other forms of online gaming.
- Casino gaming – $11.6 billion wagered, $392 million in revenue
- Sports betting – $2 billion wagered, $138 million in revenue
- Online poker – $350 million wagered, $15 million in revenue
On a percentage basis, casino gaming, including slots, live and computer-based table games, and bingo, accounted for 83% of total wagers and 72% of gaming revenue. Sports betting produced 14% of total wagers and 25% of gaming revenue. Online poker accounted for 3% of total wagers and 3% of gaming revenue.
The average monthly spend per active player account rose from the previous quarter’s total of $174. For the $545 million in gaming revenue, IGO calculates total cash wagers including rake fees, tournament fees and other fees, across all operators minus player winnings and doesn’t take into account operating costs or other liabilities.
The number of operators (46) and gaming sites (71) saw an increase from the previous quarter. From 44 to 46 for operators, but a drop in the number of gaming sites from 75 to 71.
A Growing Ontario Industry
The IGO report also took a look at the overall totals for 2022 from the time online gaming launched in April. Casino games produced $28 billion (78%) of total wagers and $940 million (67%) of gaming revenue. Sports betting brought in $7 billion (20%) of total wagers and $433 million (31%) of gaming revenue last year. Online poker accounted for $992 million (3%) of total wagers and $40 million (3%) of gaming revenue in 2022.
The IGO releases a report each quarter detailing the market’s performance. Since launch, the provincial government has seen major revenue. Provinces like Quebec have even been considered becoming a similar regulated market. The Ontario government has been pleased with the results so far.
“As the results show, we are a national leader through our online gaming market,” Andrew Kennedy, a spokesperson for the provincial attorney general, told the CBC.
Some have been concerned additional online gaming might lead to growing numbers of problem gamblers. However, authorities note that considerable funds are provided to help those who may have gambling issues.
This includes $31 million in annual funding, of which $25 million is geared toward treatment programs and $6 million for education and prevention.
Hacksaw Gaming Expands in Ontario
In other Ontario news, Hacksaw Gaming recently announced a partnership with Rush Street Interactive in the province. Hacksaw is a leading online gaming supplier and will provide its catalog of games to Rush Street’s Ontario BetRivers brand.
Players now have access to Hacksaw’s top-performing slot titles such as Wanted Dead or a Wild, Dork Unit, Chaos Crew, and Hand of Anubis, in addition to Dare2Win games like Mines, Boxes, and Coins. Hacksaw officials believe the deal strengthens the company’s footing in Canada’s sole regulated province.
“We’re delighted to add this top-tier operator to our ranks as Rush Street Interactive is a well-respected and trusted operator in the iGaming world, boasting a wide geographical reach,” Hacksaw CCO Gabrielle Star said. “We have made great strides in Ontario over the past few months, and the market remains of key strategic importance as we continue to bolster our footprint in regulated territories.
Online gaming operators continue to search for new and interesting games to bring to the market. Rush Street was pleased to bring Hacksaw options to its BetRivers platform.
“We are pleased to announce our new partnership with Hacksaw Gaming,” Rush Street Interactive CEO Richard Schwartz said, “which will bring an exciting mix of new and popular casino games to our valued BetRivers customers in Ontario. As we continue to build our presence in the market, we look forward to further enhancing our industry leading online casino offering and gaming experience on BetRivers.ca and the BetRivers app.”
