Ontario Projects to Improve iGaming Statistics in Q3 2022

Ontario’s first-quarter financial statistics in the online gaming and sports betting market for newly regulated private operators fell short of forecasts. 파친코 However, as the third quarter of 2022 draws to a close, industry forecasts show that the market will deliver more revenue and record more active users in its second-quarter operations.

The provincial model for private operators and websites began on April 4, 2022, generating C$4.1 billion in handling in the first three months of operation, but with revenue of C$162 million. It should be noted that revenue from offerings such as the Ontario Lottery and Gaming Company’s PROLINE+ was not included in that number.

IGaming Ontario is expected to release its second financial report on the local market in the coming weeks. All current indicators point to significant growth for earnings and active bets. The market is expected to grow at a combined annual rate of 7.18% in 2022 with revenue of C$439 million.

If the forecast is correct, the Canadian online sports betting and iCashino market can expect revenue of C$621 million over the next five years. In addition, the number of players is expected to increase. Once again, if the forecast is correct, the state expects to have about 7.7 million users in the next few years.

In late August, Ontario’s Alcohol and Gaming Board and iGaming Ontario, two regulators in the Internet gambling market, released their first financial report on the market. Applied in the period from April launch to June 30, 2022. For the quarter, operators and websites generated total handling of C$4.076 billion and revenue of C$162 million.

The report also said the market had 492,000 active player accounts during the quarter. The betting company spent an average of C$113 per month, excluding bonuses. But there were some concerns after the primary accounting figures, as the market’s holding rate was only 3.9%. For example, for first-quarter operations, New York held 6.63%.

In early October 2022, AGCO finally took action against a number of grey market sports books lurking in the sector. The commission said it would grant a deadline of October 31, 2022 for illegal platforms to become part of a legalized and regulated iGaming model in the jurisdiction. Otherwise, they could be penalized by local regulators.

Regulators recalled in a press release that registrants should know, understand and comply with all applicable regulatory conditions, including new standards that will take effect on October 31. Registered businesses that have not yet made their debut in the sector must stop their illegal activities when the deadline expires. If they do not comply with future registration, they may be rejected.

Leave a Reply

Your email address will not be published. Required fields are marked *