Ontario iGaming sees surge in Q3 handle as operators up 50%

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After a slow start on entry, the Ontario iGaming market is beginning to make headway and produce some eye-catching numbers as evidenced in the latest figures provided by iGaming Ontario (iGO).

Publishing its third quarter of operations market performance report, iGO announced the 36 operators in the province generated C$11.53bn ($8.65bn) from October through December – discounting any promotional spend – to mark a 90.9% increase on Q2 sports betting and online casino wagers of C$6.04bn ($4.53bn).

The beginning of Q3 marked the start of their respective seasons for the Toronto Raptors and Toronto Maple Leafs, potentially another driving factor in the growth of handle.

Canada’s presence at the FIFA Men’s World Cup in November – the team’s first participation since 1986 – could also have swelled interest among bettors.

Meanwhile, total revenue – comprising total cash wagers, including rake fees, tournament fees and other fees – came in at C$457m ($343m), representing a 71.2% rise over the previous quarter (Q2: $200m).

The 36 operators and 68 gaming sites included in the report show progress from the 24 operators and 42 gaming sites in Q2, but Ontario Lottery and Gaming (OLG) is still conspicuous by its absence.

Furthermore, active player accounts are up on the previous quarter, reaching 910,000 with an average monthly spend of C$167 ($125.35) compared to Q2’s 628,000 and C$142 ($106.59).