iGaming Ontario released its financial results for the last quarter and year

Regulator iGaming Ontario reported that gaming revenue surpassed the C$520 million (R31.37 billion) mark from January 1 to March 31, 2023. The province’s legal market has generated $1.4 billion in revenue in a year of operation, and the increase in betting and gaming revenue has been 50% in every quarter since it launched in April 2022.

The last quarter, according to iGO, saw total betting of $13.5 billion (third-quarter result of $11.5 billion). Overall, gaming revenue increased from $463 million to $526 million when comparing the third quarter and the period from January to March 2023. The regulator noted that total bets exclude advertising (bonuses), and gaming revenue includes rake fees, tournament fees, and other fees for all operators, net of winnings received by users from cash bets, with no operating expenses or other liabilities.

Just over one million accounts were active in the fourth quarter. A total of 76 gaming sites and 45 operators operate in the province’s legal market, and the average monthly expenditure by users is $70 U.S. dollars (about 5,700 rubles).

Throughout the year in the online casino segment, slot machines were the most popular (48% of total bets). They are followed by table games with live dealers with 32% and standard online table games with 19%. In the sports betting market, basketball betting was the leader (29% of the total number of bets for the year). Soccer and American soccer gained 15% and 13% respectively, while hockey ranked only fourth with 9%.

Recall: Pragmatic Play is expanding its presence in Africa by signing an agreement with PrideBet.

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