iGaming Ontario posts $22.7bn in wagers for Q3
Total revenue reached $825.8m.
Key Points
- Wagers in Q3 increased year-over-year by 32%
- Revenue in the third quarter grew by 25% when compared to revenue posted last year
iGaming Ontario has published its financial and business results for this third quarter. The Canadian company announced that it will begin releasing monthly reports, along with the results it publishes every quarter.
During Q3, total wagers placed reached $22.7bn, reflecting a month-over-month increase of 22% and a year-over-year boost of 32%.
Of the total wagers, $18.9bn came from casino games, which included slots, peer-to-peer bingo, live table games and computer-based table games.
These games also contributed to $644m of the total posted gaming revenue for the third quarter.
Sports wagers, including those made on sports, esports, novelty bets and proposition bets, made up $3.4bn of total bets and $166m of Q3’s gaming revenue.
The company also reported a rise in its total gaming revenue when compared to the previous month and the corresponding quarter of last year.
Gaming revenue for the third quarter reached $825.8m. Revenue grew month-over-month by 10% and year-over-year by 25%.
“This figure represents total cash wagers, including rake fees, tournament fees, and other fees, across all operators, minus player winnings derived from cash wagers and does not take into account operating costs or other liabilities,” the company noted in its report.
iGaming Ontario reported that there were 50 operators running 83 websites that had gaming activity during the third quarter.
In other company news, iGO’s Chief Executive Martha Otton has extended her retirement date.
Otton announced during the summer that she would be leaving the company. She planned to step down from her role as of December 31.
However, as the company continues its search to fill Otton’s role, she said she will stay with the company as its Chief Executive until March 31.
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