iGO: Ontario igaming market reaches highest gaming revenue & wagers in Q4

Wagers were up 20.8% on Q3

iGaming Ontario (iGO) has posted its fourth quarter of operations market performance report for the Ontario igaming market, revealing a record-breaking period for gaming revenue and wagers.

In total, $13.9bn was wagered between Jan.1 and Mar. 31, up 20.8% on Q3 ($11.5bn), while there was a 13.6% increase in gaming revenue (Q3: $463m, Q4: $526m).

Since its launch on Apr. 4, 2022, the new legal igaming market in Ontario has, on average, grown by more than 50% in total wagers and gaming revenue each quarter.

A total of 44 operators with 75 gaming websites contributed to wagers and revenues in Q4, a period that saw over one million active accounts, with an average monthly spend per active player account of $174.

The previous quarter was the last for one operator, though, following the withdrawal of Coolbet from the market this month.

iGO also shared its full-year numbers which were similar to the unaudited figures it provided earlier this month to coincide with the one-year anniversary of the market.

Total wagers for the year came to $35.5bn, while the Q4 gaming revenue brought the annual number up to $1.4bn.

The total number of operators and gaming websites that contributed to wagers and revenues for the year to was 45 and 76, respectively.

The iGO also reported that there were 1.65 million player accounts active over the course of the year, with an average monthly spend of $70 per player for accounts that were active anytime over the year.

Meanwhile, basketball came out on top as the most popular sport to bet on, making up 29% of wagers, followed by soccer (15%), football (13%), hockey (9%), and baseball (8%).

Within the online casino category, nearly half (48%) of all casino wagers were on slots, nearly a third (32%) on table games with a live dealer, and the remainder (19%) on computer-based table games.

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