iGaming Ontario (iGO) has released its first public report of market performance since the Canadian province’s launch of iGaming on April 4. This report covers the first full quarter of market operations, ending on June 30, 2022.
The gaming industry is examining these results eagerly, with Ontario considered to be one of the most exciting emerging markets in the world. These inaugural financial results should make for good reading to interested operators and companies, with total gaming revenue of $162m reported.
Total wagers amounted to $4bn, with 492,000 active player accounts wagering an average of $113 per month. These strong figures are bolstered by the fact that the $4bn in wagers did not include free bonuses (common for new market openings).
As of June 30, the number of iGaming websites was already at 31 (it’s reached 40 at the time of writing), while the number of operators was at 18. This is a demonstration of operators' eagerness to get a stake in the newly opened market.
iGO has committed to releasing quarterly market reports as part of its commitment to responsible gaming. These reports will include metrics related to: gaming product segments; player protection; player demographics and the economic impact of iGaming.
The report also suggested that Ontarians are interested in strong player protection and anti-laundering protections offered by their regulated market.
iGO Board Chair Dave Forestell commented: “We aim to be the best gaming jurisdiction in the world and these positive results are an early sign that we’re on our way. With a competitive revenue share rate and low barriers to entry, Ontario is an attractive iGaming market with a strong player base.”