iGaming Ontario (iGO) has unveiled its highly anticipated market performance report for the first quarter (Q1) of the fiscal year 2023-24, showcasing impressive figures that highlight the rapid growth of the online gaming industry.
From April 1 to June 30, 2023, a staggering $14.0 billion in wagers flooded through iGaming Ontario's virtual doors, painting a picture of a thriving digital entertainment landscape. The allure of online casinos in Ontario proved to be a driving force, as the casino category alone raked in $11.6 billion in wagers, accounting for a substantial 83% of the total wager volume.
This unprecedented surge in wagers translated into a substantial $545 million in total gaming revenue during the same period, reflecting a financial bonanza for operators and stakeholders. The lion's share of this revenue, amounting to 72%, emanated from the casino category, which hauled in an impressive $392 million.
The remaining revenue stream came from betting activities, including sports, esports, and proposition bets, contributing $138 million, while peer-to-peer (P2P) poker added $15 million to the financial windfall.
Participation in Gaming Activities All-Time High
One of the most notable aspects of iGO's Q1 report is the surge in active player accounts, which reached a staggering 920,000 during this three-month period. The average spend per active player account was $197, a figure that underscores the engagement and enthusiasm of iGaming enthusiasts across Ontario.
However, it is important to note that this figure does not represent unique players, as individuals may possess multiple accounts with different operators.
Comparing the Q1 figures with the previous fiscal year, a clear trend of expansion and escalation emerges. In the corresponding period of the previous fiscal year (FY2022-23), total wagers amounted to $35.6 billion, and gaming revenue stood at $1.4 billion. Casino games were the dominant force, amassing $27.6 billion in wagers, while betting activities and P2P poker accounted for $7 billion and $992 million in wagers, respectively.
iGaming Ontario's commitment to transparency and the sharing of market insights remains unwavering. The organization plans to maintain its practice of quarterly market reports, with a view to providing stakeholders with up-to-date data and trends shaping the rapidly evolving iGaming landscape.
The Q1 report is only the latest chapter in iGO's ongoing saga, and the future promises further growth and transformation for the province's burgeoning iGaming industry.
For a more comprehensive analysis and insights into the market performance of iGaming Ontario, interested parties are encouraged to review the iGO's previously released FY 22-23 Q4 & Full Year Market Performance Report
iGO's Q1 Report: Casino Dominance Overpowers Sports Betting
iGaming Ontario (iGO) has unveiled its highly anticipated market performance report for the first quarter (Q1) of the fiscal year 2023-24, showcasing impressive figures that highlight the rapid growth of the online gaming industry.
From April 1 to June 30, 2023, a staggering $14.0 billion in wagers flooded through iGaming Ontario's virtual doors, painting a picture of a thriving digital entertainment landscape. The allure of online casinos in Ontario proved to be a driving force, as the casino category alone raked in $11.6 billion in wagers, accounting for a substantial 83% of the total wager volume.
This unprecedented surge in wagers translated into a substantial $545 million in total gaming revenue during the same period, reflecting a financial bonanza for operators and stakeholders. The lion's share of this revenue, amounting to 72%, emanated from the casino category, which hauled in an impressive $392 million.
The remaining revenue stream came from betting activities, including sports, esports, and proposition bets, contributing $138 million, while peer-to-peer (P2P) poker added $15 million to the financial windfall.
Participation in Gaming Activities All-Time High
One of the most notable aspects of iGO's Q1 report is the surge in active player accounts, which reached a staggering 920,000 during this three-month period. The average spend per active player account was $197, a figure that underscores the engagement and enthusiasm of iGaming enthusiasts across Ontario.
However, it is important to note that this figure does not represent unique players, as individuals may possess multiple accounts with different operators.
Comparing the Q1 figures with the previous fiscal year, a clear trend of expansion and escalation emerges. In the corresponding period of the previous fiscal year (FY2022-23), total wagers amounted to $35.6 billion, and gaming revenue stood at $1.4 billion. Casino games were the dominant force, amassing $27.6 billion in wagers, while betting activities and P2P poker accounted for $7 billion and $992 million in wagers, respectively.
iGaming Ontario's commitment to transparency and the sharing of market insights remains unwavering. The organization plans to maintain its practice of quarterly market reports, with a view to providing stakeholders with up-to-date data and trends shaping the rapidly evolving iGaming landscape.
The Q1 report is only the latest chapter in iGO's ongoing saga, and the future promises further growth and transformation for the province's burgeoning iGaming industry.
For a more comprehensive analysis and insights into the market performance of iGaming Ontario, interested parties are encouraged to review the iGO's previously released FY 22-23 Q4 & Full Year Market Performance Report