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Ontario’s regulated online casino gaming and sports betting market nearly doubled its handle between the second and third quarters of the province’s iGaming most recent fiscal year.

Ontario bettors wagered more than $8.6bn ($11.5 CAN) with regulated digital casino, sportsbook and poker operators in the third quarter of its 2022 fiscal year, according to a release from advocacy group iGaming Ontario, representing a 91% increase from the province’s second fiscal quarter. This figure does not include promotional wagers such as free bets or other bonuses.

Total gaming revenue increased to $342m ($457m CAN) during that same time, resulting in 71% quarter-over-quarter growth. This figure includes all total cash wagers, including rake, tournament and other fees, minus player winnings from cash wagers, according to the report. It does not take into account operating costs or other liabilities.

The province’s fiscal year third quarter ran from Oct. 1 through Dec. 31, 2022. The second quarter covered July 1 through September 30.

Ontario is North America’s largest regulated online casino gaming jurisdiction by handle and revenue. The province’s first regulated operators began accepting wagers in April 2022.

More Ontario information

Q3 2022 saw 36 separate operators take bets in the province, 50% more than in Q2. These companies combined to run 68 separate regulated gaming sites, a 68% increase from the prior quarter.

These are both the highest operator and site totals of any regulated gaming market in the continent.

There were roughly 910,00 active player accounts – not unique bettors – across all regulated operators in Q3, a 45% increase from Q2. This figure includes all accounts with active cash and/or promotional wagering activity.

The average monthly spend per active player was a little over $125 ($167 CAN) in Q3. This represented an 18% increase from Q2.

Ontario gaming market

Ontario regulators do not release information by individual operator but many familiar US and international brands are expected to be among the market leaders.

Bet365, a European gaming giant that operated for years in the province as a so-called “grey market” operator, is projected to be one of if not the leading gaming platform by market share in Ontario. The bet365 mobile app was one of the most downloaded apps of any category in the months leading up to and around the launch of regulated gaming last year.

Unlike the US, Ontario allowed gaming companies that had operated in the province before elected officials approved regulations to apply for licensure in 2021. These companies had until the end of October 2022 to apply for a license or be forced to stop taking bets in the province.

Toront0-based theScore bet, the gaming arm of the well-known sports media and information company, is also projected to be among the province’s market share leaders. US-based Penn Entertainment acquired the company for $2bn for both its in-house tech platform as well as its strong presence in Ontario.

FanDuel, DraftKings and BetMGM, the three US online casino and sportsbook market share leaders, are all live in Ontario. Caesars, the fourth-place operator by share, is also live with its Ontario mobile gaming platform and operates a brick-and-mortar property in the province.

Other national brands with strong US footholds including Rush Street Interactive’s BetRivers, Bally Bet and PointsBet are also live. Many leading European brands such as bwin, LeoVegas and PartyPoker are also taking bets.

Ontario allows an uncapped number of iCasino, digital sportsbooks and real-money online poker platforms to apply for licensure, unlike virtually all US state markets. Most major international gaming brands already have launched in Ontario.

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