Since its launch last year, the Ontarian online gambling market has experienced a great expansion. Thanks to many licensed operators, you can legally enjoy sports betting, casino games, and poker. The online gambling legislation saw a lot of traction among players, and the industry still enjoys continuous growth. Therefore, we wanted to investigate the Ontarian online gambling market a bit deeper and explore what players in Ontario prefer.
Online Gambling in Ontario
Legal online gambling has finally become available for Ontarian players since last year. Although playing casino games online and placing sports betting wagers aren’t new for Ontarians, they needed to visit operators outside the province to have some gambling action. Nevertheless, the local authorities recognized the advantages of legalizing online gambling, which officially became available in Ontario in 2022.
Ontarians can now easily enjoy legal gambling action. The authorities can also get benefits from online gambling legislation in the form of taxes. You don’t need to look for operators in Ontario elsewhere since you can find many online casinos with license which are well known names on the market. Before online casinos and sportsbooks were legalized in Ontario, estimates indicated that Ontarians spent more than $500 million on online gambling.
Ontarian Gambling Market Under Review
iGaming Ontario (iGO) has published data about the Ontarian online gambling market since its launch last year, as well as for Q1 2023, from April to the end of June. iGO is a subsidiary of the Alcohol and Gaming Commission of Ontario, which is the province regulatory body that oversees the entire industry. According to the last quarter’s data, players wager much more on casino games than sports betting events.
Ontarians wagered $11.6 billion on casino games, including online slots, live dealer games, peer-to-peer bingo, and table games. That figure is almost six times bigger than the one indicating sports-related wagers since Ontarians spent $2 billion on sports bets. Eventually, peer-to-peer poker games generated $350 million in wagers. From a revenue standpoint, these wagers generated more than $500 million, or precisely $545 million. Compared to the last year’s figures in the same period, the 2023 revenue soared from $162 million. These figures clearly indicate the Ontarian online gambling market growth.
Online Casino Games vs Sports Betting
Although there’s a clear difference in the wagered amount between casino games and sports betting, it’s not a big surprise. Online casinos offer thousands of titles and various games, including online slots, roulette, blackjack, and poker. Moreover, the game libraries are available 24/7 to all players, and you can always launch some gambling action anytime and anywhere.
On the other hand, sports betting fans are a bit restricted since sports events are scheduled and available for betting only before and during the match. Of course, you always have options to place bets on sports events, but the main difference compared to playing casino games is that you have instant access to your favorite games. On the other hand, in sports betting, you are tied to the event schedule, especially if you prefer to bet on big tournaments, like backing Canada in the FIFA Women’s World Cup.
What Are the Trend Estimations?
According to iGaming Ontario’s expectations, the Ontarian online gambling market will continue to grow. It has already become a national leader in the Canadian gambling spectrum. Other online gambling markets can use the Ontarian as a benchmark for success and health.
Currently, the market in Ontario counts more than 900,000 online accounts. It is an impressive figure; however, it can indicate another problem – gambling addiction. Nevertheless, iGaming Ontario is also devoted to responsible gambling and supporting players who need help. It’s always important to remember not to wager the money you cannot afford to lose.
Conclusion
Gamblers in Ontario prefer playing casino games online since they’ve wagered almost six times more than on sports events. That trend is not surprising, as there are more than 900,000 active accounts in the Ontarian online gambling market. It has enjoyed a big success since its last year’s launch and will likely continue to grow. On the other hand, keep in mind to gamble responsibly or seek help if you need it!
