We review the recently released gaming revenue report from iGaming Ontario (iGO). The report looks at the ongoing increase in instant game revenues and compares them to the less-than-impressive performance of betting and poker over the same period.
Earlier this month, iGaming Ontario (iGO) released a market performance report for April 1 through June 30, 2023, covering the first quarter of the 2023-24 fiscal year.
The market's total wagers for the period in question amounted to $14 billion and contributed $545 million in gross gaming revenue. This income level is a fantastic result considering the revenue was generated by 46 operators across only 71 online gambling websites.
Online Casino Remains the King
Ontario’s legal gambling marketplace is a little over a year old, having only been legalised in April 2022. While sports betting has been available for far longer, online casino games have quickly become a favourite pastime with local players.
At a glance, it is easy to see that the online casino niche continues to strengthen its position as Ontario's leading online gambling revenue generator in both total wagers and gaming revenues.
Betting & Poker Revenues Fall Flat
While betting and poker revenues are less impressive than those generated by games of chance, their contribution to Ontario's economy is vital to national income.
Compared to the previous reporting period, the online poker revenue metrics remain unchanged, and the betting sector has decreased. The April 2022 to March 2023 report showed total wagers of 20% (versus 14%) and gaming revenues at 31% (versus 25%).
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