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With an 8% month-over-month rise in total cash wagers, the Ontario igaming market gained traction in August and continued to grow during the busy months of September and October for sports betting.

 

Revenue Increase of 8%

That is in accordance with the market financials that iGaming Ontario announced today.  Total cash bets on the market increased from CAD $7.56 billion in July to CAD $8.14 billion in August.  Revenue increased by 8% month over month to CAD $335 million (compared to CAD $311 million in July). 

The only other occasion Ontario's total cash wagers exceeded $8 billion was in May of this year, when they reached CAD $8.06 billion.  The total revenue reached a high of CAD $338 million that month as well.

August witnessed a 7% increase in active player accounts, reaching 1,1016; average income per active player account was CAD $330, up 1% from July.

 

Additionally, player accounts are growing

More precisely, the casino's handle of CAD $7.22 billion represented an 89% market share, a 7% rise over July.  In May this year, the casino's previous peak was CAD $6.95 billion.

In terms of earnings, the online casino generated CAD $267.8 million in August, a 6% month-over-month rise and an 80% market share.  The casino's revenue has reached a new peak.

On the total cash wager end, sports betting increased 11% month over month to CAD $765 million, or 9% of the market.  Sports betting generated CAD $60.2 million in revenue, up 14% from July and accounting for 18% of the market. 

 

The Domination of Casinos Continues

Sports betting suffered 10% monthly declines in handle and revenue in July, according to iGaming Ontario, so the August rebound is even more striking.

August's cash bets for P2P poker were CAD $151 million, up 9% from July and accounting for 2% of the market.  With a 2% market share and CAD $6.8 million in sales, poker saw a 15% growth from July.

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