Ontario Online Gambling Sees Strong First-Year Growth To that end, we have exited the Ontario market described by some industry experts as the most competitive market in the world. Coolbet, Play-On Casino, and Play-On Mansion all threw in the towel before reaching the market’s anniversary.Ĭoolbet’s owner, GAN Ltd., cited Ontario’s steep competition as a driving reason behind its retreat during a recent investor call.įor those markets where we don’t see a clear and rapid path to profitability outside of Latin America, we will pull back resources and/or exit those markets. However, it doesn’t include the casualties of the first year.

That list of operators includes the market’s latest entry, NeoBet by Reactive Betting. In the first year, players in or visiting Ontario opened over 1.6 million active accounts with those regulated operators. That’s considerably more than even New Jersey, the longest-running and most crowded online casino market in the US. The market has grown to include over 43 operators and 74 sites. Those companies collected $1.4 billion (US $1B) in gross revenue, returning $34.2 billion (US $25.4B) in player winnings, for an aggregate hold of 4%. Numbers released by iGaming Ontario (iGO) on the market’s birthday indicate that Ontario gamblers wagered $35.6 billion (US $26.5B) with private operators over the past 12 months, not counting bets made with promotional credit.

iGO cautions that its numbers are “unaudited and subject to adjustment.” Ontario’s First Year by the Numbers Much as it is for a human toddler, this will be a period of learning and growth for Ontario.Įditor’s Note: Since Ontario is a Canadian market, dollar values are given in Canadian currency, with US conversions mentioned parenthetically. You could say that the market is officially entering its toddler years. Simultaneously, it offers starting point for everything yet to come. on April 4, marking the end of a year of growth and growing pains. The province reached the milestone at 12:01 a.m.

We’ve seen some successes during that first year, but there’s plenty of room for improvement.

Ontario’s online casino and sports betting market just turned one.

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