To the north of the United States, the Blue Jays were the most wagered team in the Ontario Province in its first year of legalized sports betting, followed by Golden State Warriors, Kansas City Chiefs, Buffalo Bills, and the Toronto Raptors. To add to that historic accomplishment, the iGaming market celebrated its one-year anniversary on April 4th.
Ontario Has Picked Up the Pace in its First Year
Despite the concerns surrounding the gaming market in the beginning stages, Ontario has become a market to emulate. This is especially true for states lobbying to gain more support at their respective legislative sessions in the US.
Across the sports betting industry in the United States, iGaming pushes have run out of steam as jurisdictions such as New York will most likely have to wait another year. The same could be said about the commercial casino aspect of the business, as numerous groups have opposed such ideas primarily in New York and Texas.
According to the most recent data, the online casino market in Ontario ranks at the top in North America. Users on multiple platforms have wagered approximately $35.6 billion CAD, translating to about $1.4 billion in tax receipts for the province. The amount in the wager category converts to $26.5 billion USD.
It is reported that over 85 percent of iGaming gamblers use regulated sites, which means a majority of the money stays within the country. The survey was conducted by Ipsos from February 28 to March 13 among 1,850 Ontario residents aged 19 and over.
According to the study, 85.3 percent of those who gambled online in the province in the last three months did so on a regulated site. In total, 19.5 percent bet on legal and illegal sites, while 14.7 percent bet on illegal sites.
The North is Making a Statement During Its Inaugural Year
During the 2019 NBA Championship, the phrase “We the North” may have hinted at the future of the gaming market in the region.Ontario is making tremendous progress as the market is home to 45 active operators because the launch began with just 12. Ontario hasn’t looked back since the launch of the market, but has added to its arsenal.
As per iGO, over 1.6 million players have active accounts, and over 5,000 licensed games have been approved by the Alcohol and Gaming Commission of Ontario (AGCO).On the per consumer base, the average active bettors is slightly below $70. When one breaks the number down even further, the most popular sport to bet on was basketball at 28 percent. Soccer (15 percent), football (14 percent), hockey (nine percent), and baseball (eight percent) round out the top five.
There were nearly half (48 percent) of all online casino wagers placed on slots, nearly a third (32 percent) on live dealer tables, and the remainder (19 percent) on computer-based tables. This is clearly a big jump because bettors didn’t have much of a choice, but to place bets and play these mobile games on offshore sites.
There is still work to be done, but this was more than the province could have asked for. Before the operation began, 70 percent of users were wagering on unregulated sites in regard to the online casino market.
Tom Mungham, registrar and CEO of the AGCO, stated, “Although there’s still much work to be done, we’re pleased to see such a substantial shift towards gaming on regulated sites so far, and everything that it represents for players and for the province.”
Last Updated on by Ryan