Ontario online gambling revenue hits record in 3Q FY 2023

Gross gaming revenue of licensed online gambling operators in the Canadian province of Ontario for the period from 1 October to 31 December 2023 reached a record C$658 million (US$487 million). This is according to a report by gaming regulator iGaming Ontario (iGO) for the third quarter of the 2023-2024 financial year.

According to the contents of the document, published on 17 January, compared to the previous quarter, revenue increased by 44% . 

Ontario's online gambling market size reached a record CAD17.2 billion (US$12.74 billion), up CAD3 billion from the previous quarter.

For the period July to September 2023, there were 49 licensed operators in Ontario offering their service across 72 sites.

The total number of accounts on licensed online casino and online bookmaker sites was 1.2 million. The average spend per account reached 186 Canadian dollars ($137.7).

Recall that the legal and regulated online gambling market in Ontario opened on 4 April 2022. The province became the first in Canada, where they began to legally accept online betting. The licencees included operators BetMGM, Coolbet, FanDuel, Fitzdares, bet365, LeoVegas, Unibet and 888.