Ontario Q2 Revenues Rise but Still Off Expectations
Ontario announced its second quarter figures for online gambling including, sports betting, online casino, and Esports betting with a rise of 65% in revenues.
In total for the quarter revenues stood at $267 million according to the regulator iGaming Ontario (iGO) which is responsible for online gambling in the province under the control of the Alcohol and Gaming Commission of Ontario (AGCO).
The second quarter which covers the figures from July 1 to September 30 does not include the state owned Ontario Lottery and Gaming Corporation (OLG).
Total bets placed in the quarter stood at $6.04 billion which represents a rise of 48% from the first quarter from the licenses 24 operators now offering services in Ontario.
Although the figures look impressive it is expected the estimates of the market worth some $1.6 billion in the first year will be well off the pace and the belief that in 2023 the market will grow to $2.36 billion look somewhat optimistic.
