iGO: Ontario igaming market hits $14bn in Q1 wagers as casino games reign supreme

Casino games also contributed to a $19m QoQ increase in gaming revenue

iGaming Ontario (iGO) has published its first set of figures from the first quarter of the 2023-24 fiscal year, reporting an all-time high of $14bn in wagers.

Previously, the quarterly record stood at $13.9bn, set in Q4 FY22-23, but the $14bn mark was officially breached in the period April 1 – June 30.

Casino games, including slots, live and computer-based table games and peer-to-peer bingo, made up nearly $11.6bn (83%) of this figure, and contributed $392m (72%) of the $545m gaming revenue recorded in the period, which was up $19m (3.6%) on Q4.

Betting, including on sports, esports, as well as proposition and novelty bets, ranked second with total wagers of $2bn (14%) and gaming revenue of $138m (25%).

Peer-to-peer (P2P) poker, meanwhile, made up the rest of the numbers, accounting for $350m (3%) of total wagers and $15m (3%) of gaming revenue.

Last year, casino games accounted for nearly $28bn (78%) of total wagers and $940m (67%) of gaming revenue, while betting made up $7bn (20%) of total wagers and $433m (31%) of gaming revenue, and P2P poker $992m (3%) and $40m (3%), respectively.

iGO’s report also detailed that there were 920,000 active player accounts in Q1 with an average monthly spend per account of $197, compared to 1.01 million and $174 in Q4.

The number of gaming websites also decreased between April 1 and June 30, from 75 in Q4 to 71, but the number of operators active in the period increased by two, to 46.

Last month, iGO released a report compiled by Deloitte on the economic impact the industry has had on the province since regulation in April last year, with $1.54bn brought to Ontario.

This, reportedly, included $900m in the form of wages, with nearly 12,000 jobs created by the industry.

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