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Online gambling and sports betting has only been legal in Ontario for one year, but it has already produced some spectacular revenues.
From 4 April 2022 to the same date in 2023, the province saw $35.6 billion in Canadian dollars wagered online. This works out as being over $26.4 billion in USD, and it marks a huge success for the first Canadian province to formally legalize online gambling.
The total gaming revenue across over 40 legal operators came to $1.4 billion in Canadian dollars. Not only was this an impressive figure in itself, but put Ontario firmly in the five biggest iGaming jurisdictions in North America. Here is how Ontario cemented its place as one of the biggest five states and provinces for iGaming in the continent:
There are currently 1.6 million active iGaming accounts in Ontario out of a total population of 15 million across the whole province. The average spend for each player over the period was approximately $70 Canadian dollars each month.
Slots proved to be the most popular game in Ontario’s legal online casinos. Around 48% of all online wagers were made on slot games, compared to 32% for live dealer table games.
When it came to sports betting in Ontario, basketball proved to be the most popular market. Around 28% of all bets were made on basketball, while soccer and football enjoyed 15% and 14% of the total amount bet respectively. The only surprise here was the fact that only 9% of the total wagers made were on hockey – traditionally a hugely popular sport within the province.
This has shown that Ontario has managed to produce a successfully regulated and competitive sports betting and casino gaming market over the past 12 months. With major players like FanDuel and PokerStars joining the fray alongside homegrown brands, Ontario is proving to be a real hotbed for online gambling and sports betting. If the past year is anything to go by, there is no reason why iGaming can’t continue to flourish in the province.
However, it’s also worth being a little cautious about the opening year’s figures. Firstly, there is the fact that there are only seven jurisdictions in North America that include both sports betting and casino gaming as their legally permitted forms of online gambling. This makes the fact that Ontario came ahead of the likes of relatively small states like Connecticut, West Virginia and Delaware a little less impressive.
Plus there’s the fact that Ontario’s population of 15 million is much larger than the 13 million of Pennsylvania, 10 million of Michigan, and nine million of New Jersey. However, this must be balanced with the fact that Ontario has only had one full year of iGaming. All of this shows that things are looking up for iGaming in the province.
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