iGaming Ontario recently released revenue numbers and statistics for the third quarter of the 2023-24 fiscal year, which ran from Oct. 1 to Dec. 31, and reported total wagers of $17.2 billion.
That’s a 21% increase over the second quarter and doesn’t include promotional wagers or bonuses. The total accounted for total gaming revenue of $658 million, a 22% increase over the second quarter. The report includes information on all operators with gaming websites that had some form of gaming activity during the quarter.
Inside the Numbers
Beyond the growth in revenue, iGaming Ontario also reported an overall count of 49 operators and 72 gaming websites in the third quarter. That’s an increase of two operators and one site from the previous quarter.
The $658 million in total gaming revenue represents total cash wagers, including rake fees, tournament fees, and other fees across all operators, minus player winnings, and does not take into account operating costs or other liabilities. The latest report also shows that the industry continues to grow in popularity among Ontario gamblers. There were about 1.2 million player accounts, an increase from 943,000 in the previous quarter.
“Active player accounts are accounts with cash and/or promotional wagering activity during the time period and do not represent unique players as individuals may have accounts with multiple Operators,” iGaming Ontario notes.
Despite the growing number of active accounts, the average monthly spend per active player dropped from $191 in the second quarter to $186 for the third quarter. Here’s a look at the revenue totals by individual category:
- Casino games, including slots, live and computer-based table games and peer-to-peer bingo, accounted for nearly $13.7 billion (79%) of total wagers and $471 million (71%) of gaming revenue.
- Total sports betting accounted for nearly $3.1 billion (18%) of total wagers and $171 million (25%) of gaming revenue.
- Online poker produced $431 million (2.5%) of total wagers and $17 million (2.5%) of gaming revenue.
Ontario became the first Canadian province to embrace a fully regulated iGaming market in April 2022 and has become one of the most successful launches in North America.
