Ontario Canada Betting Revenues

Full Ontario Canada Q4 betting market stats for 2022 – the first year for iGaming and Sports betting online gambling in the Canadian province! (Image by Alicja on Pixabay )

Ontario’s online sports betting and iGaming markets are booming. The latest figures released by the iGaming Ontario (IGO) authority show a 71% increase in total revenue in Q4 of 2022 (the market’s third quarter in action) for the sportsbook side of the newly formed provincial online gambling zone in Canada.

That is an impressive feat, especially considering it has only been in operation for a year. It is also a sign of the growth of sports betting in Canada, which could see its total market value increase to C$28 billion within five years.

With these figures in mind, the Ontario sports-betting market is expected to grow rapidly as more companies enter the province.

As for its success, this is largely thanks to the abundance of sports events creating an abundance of markets for Canadians living in the province to wager. This includes the NCAA men’s basketball, The Masters and the Toronto Maple Leafs and Ottawa Senators NHL teams. Furthermore, other popular sports to bet on include football, hockey, baseball, and soccer. On top of this, US sports are available such as the NBA and one of the world’s largest sports betting events – The Superbowl.

With doubts over how the provincial market will perform firmly in the rear-view mirror, we can expect more prominent sportsbooks to join in on the action. However, just how many more can Ontario fit in? The competition is already rife with both well-known European and US brands competing for market share.

iGaming & Sports Betting Brands in Canada’s Ontario market include LeoVegas, 888, Bwin, Bet365, BetMGM (LeoVegas parent company), Royal Panda (LeoVegas owned), PokerStars (Flutter), DraftKings and many more.

Current Stats for Ontario Canada Q4 betting

As we await the final figure for iGaming in 2022, we already have a pretty good idea that these are going to be as impressive judging by the province’s sports betting vertical Q4 betting stats.

While the iGaming market is still in its early stages, it is expected to be one of the largest regulated markets in North America.
However, for now, we can focus on the online sports betting side of things. Bear in mind these figures are from 4 April 2022 (Q2) when the market first opened its virtual doors.

  • Q4 Revenue Increase: 71% increase to C$457m compared to Q2 (C$162m) and Q3 (C$267m).
  • Total 2022 Sports Bets: C$21.6 billion in bets recorded since the Canadian province brought its domestic licensing online.
  • Total 2022 Revenue: The total revenue over the three quarters since its launch in Q2 2022 (4 April) is C$886 million. 2023 will surely crush these numbers. And had the market opened in Q1 on 1 Jan 2022, it would almost certainly have recorded C$1 billion.
  • Q4 Wagers Vs Q2 & Q3: In Q4 there were a total of C$11.5 billion in bet made. That’s a 91% increase compared to Q3, which recorded C$6 billion. In Q2, the first quarter of business for Ontario iGaming and sports betting, the figures were C$3.03 billion.
  • Active Player Accounts: The number of active player accounts grew by 45%. In Q3 the figures show 628,000 players registered for iGaming & sports betting accounts. While Q4 saw a remarkable 921,000 new sign-ups. In Q2, the figures were 492,000. That’s a total of 2 million players in the province with accounts directly opened with Ontario online casinos over Q2, Q3 and Q4.
  • Operators Registered: In Q4, amazingly 36 new operators registered with the provincial government’s iGaming regulator – iGaming Ontario. That’s a 50% increase on Q3.
  • Gaming Websites: There was a 62% rise in the number of gaming companies entering the market in Q4 Vs Q3.
  • Average Player Spend Per Month: Players average bets per account came to C$167 in Q4. In Q3 the figure was C$142. Therefore, this is a percentage increase of 18%.

FYI: You can find the Q2 Ontario Canada iGaming figures here. Although that report reads Q2, it represents Q3 for the financial year and the second quarter for the iGaming Ontario market being in business.

Canada, Ontario Market Revenue

Casino Cards (Photo by Ingrid on Pixabay)
  • Q2 2022 – C$162 million
  • Q3 2022 – C$267 million
  • Q4 2022 – C$457 million

Total Revenue
C$886 million

Overall Market Round-Up

There is still a long way to go before Ontario’s online sports-betting market has fully matured, but the industry is off to a strong start with the above Ontario Canada Q4 betting stats truly impressive.

Reported rises over Q2, Q3 and Q4 since the launch of the regulated market comes as Deloitte Canada projects that the sports-betting market in Canada will grow to C$28 billion in five years. It expects the market to be driven by the NHL, NBA, MLB and Canadian Football League (CFL).

Despite the high profile of the iGaming and sports betting industry in Canada’s Ontario province, there are still plenty of players who aren’t sure which online casinos or sports books to sign up to. It is also still legal for citizens to sign up for online gambling establishments operating under Curacao and Malta Gaming Authority (MGA) websites available via the reputable online casinos experts guide here.

However, how long these casinos will appeal to players in Ontario remain to be seen. To add to the competition, the iGaming Ontario board has set up a customer support line for those who need advice on which casinos and sports books they should sign up to.

Stay tuned for more Canadian online gambling news: Keep an eye out for more news from Canada coming your way. Bonuses, news, events and more! As soon as we hear about it, you will know about it via the Casinoplusbonus news channels!

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