Ontario Sports Betting Industry Continues to Thrive in Q3

Ontario Sports Betting Industry Continues to Thrive in Q3

The Ontario sports betting industry increased its revenue in the third quarter. iGaming Ontario reported the province’s gaming revenue was more than $658 million during the quarter, an increase of 22 percent over the second quarter.

According to a sportsbook pay per head provider, the report only covers the period from October 1, 2023, to December 31, 2023. It does not cover every operator with a gaming website that carried out trade activities during that time.

The survey also noted 72 gambling websites and 49 operators across the province throughout the third quarter. In the second quarter, those numbers were 71 and 47, respectively; thus, there was a slight increase.

Ontario Sports Betting Industry

Ontario Sports Betting Industry Continues to Thrive in Q3Total wagers increased by 21% to $17.2 billion in Q3. The total amount does not include promotional bets or bonuses. From 943,000 in the second quarter, there were around 1.2 million active player accounts in the third quarter.

They do not stand in for distinct players because people might have accounts with multiple operators. A decrease from $191 in the second quarter brought the average monthly spend per active player account down to $186.

According to bookie pay per head experts, nearly $13.7 billion (or 79 percent) of total wagers and $471 million (or 71 percent) of gaming income were generated by casino games, which include slots, live and computer-based table games, peer-to-peer bingo, and more.

Almost $3.1 billion, or 18% of the total wagers, were placed on sports, esports, proposition, novelty, and exchange betting. It was also responsible for $171 million, or 25%, of the total gaming income.

Poker accounted for $431 million (2.5%) of the total wagers and $17 million (2.5%) of the gaming income. April 4, 2022, was the official opening of the industry in Ontario. It was also when gambling software and other vendors marketed their products and services in the province.

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