Ontario Hits $6 Billion In Handle For Online Sports Betting, Casino In Fiscal Q2

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Ontario sports betting revenue 2022

Ontario sports betting is settling into its groove.

Ontario iGaming operators took CAD $6.04 billion (USD $4.4 billion) in wagers during the third quarter of 2022, according to iGaming Ontario’s second quarterly report released Wednesday. Both Ontario sports betting and iCasino is included in the figure from July 1 to Sept. 30.

The handle is a nearly CAD $2 billion increase from the CAD $4.07 billion bet in the first quarter of action. Ontario launched its commercial iGaming market April 4.

Ontario sports betting revenue increases

In the first report released in August, Ontario regulators said there were plans to be more detailed in future reports. The second report this week did not provide much more information.

Operators generated CAD $267 million ($192 million USD) in revenue, up 48% from CAD $162 million during the previous quarter. The increase in handle and revenue likely comes from both an increase in operators, from 18 to 24, and the month of NFL betting included for September.

Comparisons to US sports betting markets are difficult as Ontario regulators have not provided separate iGaming and sports wagering breakdowns. The report also does not include Ontario Lottery and Gaming figures.

While the total amount of money wagered, or handle, in sports betting is commonly reported in North America, handle for online casino and poker is not a common metric.

New York, a larger jurisdiction with about five million more people, handled just under $3 billion USD for sports betting alone and generated more than $300 million in operator revenue, for the same timeframe.

New Jersey, a smaller jurisdiction, generates in excess of $130 million USD in operator revenue — just for online casino — in a given month.

The Ontario numbers reported don’t include Ontario Lottery and Gaming Corporation figures (including sports betting product ProLine+), which runs online gambling as well.

Ontario accounts go up

There were 628,000 active player accounts, according to iGO. Those players spend an average CAD $142 per month.

The previous quarter included 492,000 users and an average monthly spend of CAD $113.

Ontario has a population of nearly 15 million people.

Ontario sports betting closing its door

Earlier this month, the Alcohol and Gaming Commission of Ontario announced it will end the transition period for gray-market operators Oct. 31. Sportsbooks still operating in the unregulated market after that date could put their future registration within the province at risk.

“A key objective of the AGCO has been to move iGaming operators and gaming-related suppliers into Ontario’s regulated market as quickly and as seamlessly as possible,” the release said. “Since market launch on April 4, the AGCO has provided a reasonable amount of time for these operators and gaming-related suppliers to join the regulated market in a business-like and seamless fashion.”

There are still multiple operators waiting to sign their agreement to operate legally in the province with iGO. Major gray-market operators like Bet365, Betway and Sports Interaction have already launched in the regulated market.