Ontario operators accept $11.53bn in handle for Q3

IGaming Ontario's (iGO) 36 operators have collected C$11.53bn ($8.65bn) in handle between October and December, discounting promotional expenditures, according to the iGO market performance report for the third quarter (Q3) of its 2022-23 fiscal year. The report covers market operations from 1 October through 31 December, 2022.

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The overall revenue, which includes all cash bets, rake, tournament and other fees, was C$457m, up 71% from the same period last year (Q2 was $200m).

This represents a 91% increase over Q2's C$6.04bn (US$4.53bn) in wagering on sports and online casinos.

Currently, there are 68 gaming sites in the report from 42 in Q2. Moreover, Ontario Lottery and Gaming (OLG) continues to stand out in its absence.

For the Toronto Raptors and Toronto Maple Leafs, the beginning of Q3 marked the start of their respective seasons, which may have been another factor contributing to the increase in handle.

This rise in betting might be due to Canada's presence in the FIFA Men's World Cup finals in November last year, the team's first since 1986.

Additionally, the number of active player accounts has increased from the second quarter, reaching 910,000. The average monthly spend of C$167 also went up from Q2's 628,000 and C$142.

Q3 saw an 18% increase in average monthly spending per active player account to $167 from Q2.

Back in August, iGaming Ontario released its first public report on market performance since Ontario launched on 4 April 2022. The report showed that $162m has been generated in total gaming revenue.

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