Ontario online gambling sector reaps whopping $124M revenue in Q1
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Ontario's online gambling sector reaps whopping $124M revenue in Q1. Online gambling industry has gone from strength to strength in the last few years. Government and local authorities have strived to take advantage of the benefits of this industry.
Ontario launched legal betting on April 4th 2022. The sector has generated a lot of revenue since then. There are over a dozen active operations and 31 gaming websites boasting over 425,000 players who spend circa CA$113 per month. iGO reports total gaming revenue of $123.9 million for the period up to the end of June 30th 2018.
The statistics refer to Ontario's online gambling market only. This does not include the Ontario Lottery and Gaming Corporation's (OLG) online gaming offering. The total cash wagers stated within these figures do not exclude the income generated from promotions or bonus bets. IGO's Board Chair Davi Forestell is optimistic about the future of the market. The market is diverse, with prominent operators such as DraftKings and Entain and small local providers such North Star.
Ontario's Online Gambling market is young but has a lot of potential. IGO will release a market report for each quarter at a minimum. It intends to provide more detailed reports on metrics related to various gaming product segments, player protections, and the economic impact of the gaming industry.
