Ontario Handles iGaming Q2 Reports

On Wednesday, October 12, 2022, Ontario’s subsidiary, iGaming Ontario’s Alcohol and Gaming Board, reported its second-quarter results on the state’s legitimate online gambling segment. From July 1 to September 30, 2022, the local market generated a total bet size of C$6.04 billion and game revenue of C$267 million or more. 카지노사이트

The official market for private gambling companies in Ontario went online on April 4 this year, and is operated by AGCO and its subsidiary iGaming Ontario. It was introduced after decriminalizing single event betting, paving the way for this kind of first domestic market. Prior to that, the only legal option in the province was OLG’s PROLINE brand.

During the second quarter of online operations, the new market accrued more than CA$6.04 billion in total betting handles for all deliveries, according to iGaming Ontario. These include online casino games, online sports betting and digital poker. The steering wheel translated into Canadian $267 million in revenue, with 24 operators and 42 gaming websites operating in the state at the time.

Local regulators also reported 628,000 active user accounts in Q2. They spent an average of C$142 per month per customer. However, it should be noted that since the latter is a separate local website, this figure does not include the revenue from OLG’s PROLINE+.

The second-quarter results are a notable improvement to the market’s first financial report issued in August and applied from April 4 to June 30, 2022. The state has since racked up C$4 billion in handling and C$162 million in revenue. At the time, however, there were 18 operators and 31 websites operating in the sector.

With the growing number of licensed operators, the state is expected to generate even more revenue in the coming months. The NFL, NHL and NBA are now back in earnest, and betting people will have the FIFA World Cup in November. The state’s spring 2022 budget estimated that iGaming Ontario would generate net revenue of C$18 million in 2022-23, C$26 million in 2023-24, and C$31 million in 2024-25.

Meanwhile, the Ontario Alcohol and Game Commission has decided to take action against the state’s gray market operator. Recently, regulators announced that October 31, 2022, would be the deadline for unregistered operators to switch to the state’s regulatory market. The Commission receives applications after September 2021, meaning operators will have to prepare for more than a year.

Once the deadline comes, AGCO has warned that companies that do not comply with the new standards will risk refusing to apply for registration. In addition, regulators vowed to take appropriate regulatory measures against registrants who do not meet this criterion. Licensed operators have also been advised not to cooperate with operators in the gray market.

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