Ontario sports betting handle reached $2 billion during the fiscal year’s first quarter.
According to iGaming Ontario’s (iGO) quarterly report released Wednesday, ON sports betting accounted for 14% of all wagers between April and June.
Sports betting generated $138 million in revenue, good for 25% of all gaming revenue in the province.
It is the first iGO report to break out sports betting figures. The report, however, does not include data from Ontario Lottery and Gaming (OLG), which operates in-person betting kiosks and an online app.
iGaming vs sports betting in Ontario
Total betting in Ontario hit $14 billion in the first three months of the current fiscal year. The total (minus data from OLG) includes:
- iGaming
- Sports betting
- Online poker
iGaming was nearly 83% of that total at $11.6 billion. With $350 million in bets, poker represented 3% of total betting in Ontario.
The average active player spent nearly $200 across all types of betting in the first quarter.
Total Ontario gaming revenue on the rise
Ontario’s $2 billion first-quarter sports betting handle is already 30% of its $7 billion annual total from fiscal year 2022. The $138 million in sports betting revenue to begin the current fiscal year is also 30% of last year’s $433 million total.
Total gaming revenue accounted for $545 million between April and June this year. It is a significant increase compared to the same period last year. First-quarter gaming revenue topped out at $162 million in 2022, Ontario’s first three months of commercial online betting.
Stakeholders are now experiencing a more complete market with the transition of most former gray-market operators into a regulated space.
US sports betting comparison
Based on its quarterly figures, the Ontario market might have a US sports betting comparison in New Jersey, without the obvious New York market-effect questions.
Between April and June, NJ sports betting produced $221 million in revenue from $2.2 billion in handle.
iGaming in New Jersey produced $470 million in revenue over those three months. Ontario’s online casino market generated $392 million in revenue during the same timeframe.
| Location | Sports betting handle | Sports betting revenue | iGaming revenue |
|---|---|---|---|
| New Jersey | $2.2 billion | $221 million | $470 million |
| Ontario | $2 billion | $138 million | $392 million |
LSR reporter Pat Evans contributed to this article.
