Ontario’s iGaming Revenue Soars in May: A Record-Breaking Month
In a remarkable turn of events, Ontario’s iGaming sector marked a historic milestone in May, generating a staggering CA$338 million (approximately US$247 million) in gross gaming revenue. This achievement, driven by a surge in player spending, highlights the growing popularity of online gaming in the province, despite a slight decline in the number of active participants.
This month’s revenue surpassed the previous record of CA$328.5 million set in January, reflecting a 2.9% increase. Compared to the same month last year, the revenue soared by an impressive 40.3%, while also seeing an 8.0% boost from the figures recorded in April.
Of the total revenue, online casinos accounted for a substantial CA$259.8 million, marking a remarkable 45.3% rise year-on-year. Meanwhile, sports betting garnered CA$71.8 million, a 26.3% increase, and internet poker saw a growth of 18.9% to reach CA$6.3 million. In terms of market distribution, online casinos secured a commanding 77% share of the overall iGaming revenue, with sports betting at 21% and poker contributing the remaining 2%.
A New High in Player Spending
In addition to revenue, player spending reached unprecedented heights, amassing a total of CA$8.07 billion during May. This figure eclipsed the previous monthly high of CA$7.95 billion recorded in March, marking a significant benchmark as it is the first time Ontario’s iGaming expenditures have surpassed the $8 billion threshold.
Year-over-year insights reveal a remarkable 28.9% uptick in overall wagering, coupled with a month-on-month rise of 3.5%. The majority of expenditures were channeled towards online casinos, totaling CA$6.96 billion, which represents an impressive 30.9% increase from the previous year. Conversely, internet sports betting reached CA$972 million, an 18.5% increase, while poker spending rose by 11.6% to CA$129 million.
Interestingly, these record revenues occurred amidst a 2.0% decrease in the number of active player accounts, which fell to 1.07 million. However, the average revenue per active player witnessed a substantial growth, climbing 10.0% to CA$316.
As Ontario’s iGaming landscape continues to evolve, these figures not only illustrate a thriving market but also highlight the shifting dynamics of player engagement and spending habits. The steady rise in revenue and expenditures signals a robust future for online gaming in the region, setting the stage for further developments in the months to come.