The $4 Billion (CAD) in total wagers does not include promotional wagers, and the total gaming revenue of $162 million is total cash wagers, including rake fees, tournament fees, and other fees across 18 total operators and 31 gaming websites.
The regulator is also reporting that there were 492,000 active player accounts with an average monthly spend of $113 per user, where the contribution of growing sites such as Sports Betting Canada, among others, is surely included.
“Our aim is to be the best gaming jurisdiction in the world and these positive results are an early sign that we’re on our way,” said Dave Forestell, iGO’s board chair, in the release. “With a competitive revenue share rate and low barriers to entry, Ontario is an attractive igaming market with a strong player base.”
Regulators also formally announced that they intend to release these reports, at minimum, on a quarterly basis in the future. They’re also promising more metrics relating to gaming product segments, player protections, player demographics, and the economic impact of the iGaming industry.
It’s important to note that these figures don’t include iGaming revenue from the Ontario Lottery and Gaming Corporation, which offers a comprehensive iCasino and retail and online sports betting platform. PROLINE + was the first online sportsbook to launch in Ontario shortly after Canada decriminalized single-event wagering on August 27 of last year.
Data delay
Many industry stakeholders expressed frustration with the delay in releasing the first revenue report after regulators stated at the Canadian Gaming Summit in June that they’d be released “very shortly.”
The delay was addressed in iGO’s email release: “We realize that this report has been highly anticipated and we have appreciated your patience for the time and diligence taken to achieve the desired accuracy of this data.”
Ontario’s provincial election was held on June 2, and the government led by the Progressive Conservative Party’s Doug Ford was re-elected. Many elected government officials take significant vacation time during the summer months, which may have slowed government administration processes.
CGA President Paul Burns previously told Sports Handle the numbers were experiencing an administrative delay.
“It’s not anything purposeful. They [regulators] need sign-off. And I don’t think they’ve got that yet. When they do, they’ll release them. They want to release them. I know operators want to see them,” he said.
Ontario’s first revenue numbers aren’t mind-blowing, but they were never expected to be. Many private operators and industry stakeholders have described the launch of Ontario’s regulated market as a marathon, not a sprint. The overall consensus is that it will take an entire calendar year in order to get an accurate picture of the potential of the market.
The Alcohol and Gaming Commission of Ontario has proposed a new Standard that would set an Oct. 31 deadline for operators to transition out of the unregulated market. A hard deadline would push gray operators currently in limbo to get licensed.
The proposed Standard will create an obligation for operators and suppliers to cease any direct unregulated activities in Ontario, and to end any agreements or arrangements with third parties who are carrying out activities in the unregulated market. The implementation of this proposed Standard may require some applicants to shutter their gaming sites in Ontario until they have satisfied the requirements of both the AGCO and iGaming Ontario (iGO).
Ontario’s market is expected to grow considerably throughout the course of the year. Up to 70 different brands could be licensed in Ontario by the end of the year, regulators said at the Canadian Gaming Summit. With revenue data only accounting for 18 operators and 31 gaming sites in Q1, these numbers should rise drastically as more operators jump on board.
Source: GMB
