A lot has been made Ontario Fledgling iGaming Market, of the North American gambling market over the last five years. At one point, speaking of North American gambling would be secluded to the casinos of Las Vegas, riverboats down the Mississippi, tribal casinos, and daily fantasy sports. Now, in select locations in Canada and the US, people can bet on all of the sports and play all of the casino games that they want online.
The famed PASPA Repeal of May 2018 ushered in the rise of new businesses across the US setting up iGaming platforms, while it took Canada until April 2022 to get the ball moving on regulation. As the numbers show, active states to the south and now Ontario to the north are proving the popularity and potential success of iGaming on the continent. This is especially true in Ontario Fledgling iGaming Market, where the Ontario Fledgling iGaming Market is still less than a year old but is clearly a tremendous success for the industry already.
Here Are The Ways Of Ontario Fledgling iGaming Market Proving a Major Success for the Industry ;
1. One province proving enough for iGaming vendors
Certainly not to the degree of the states with major cities like New York, but Ontario has been a prized market for the Ontario Fledgling iGaming Market for several years. Home to the likes of Ottawa and Toronto, the province was seen as the best place to test-launch the online gambling market. When the time finally came in May 2018, it’d be fair to assume that the early moving businesses were surprised by the results.
In Q2 of the 2022/23 financial year, which ran from July to September, the number of licensed operators went from 18 to 24 in the previous quarter – resulting in 42 total sites – while the number of active player accounts also grew significantly from 492,000 to 628,000. The amount staked hit US$4.37 billion across online gambling options, powering a US$196 million in revenue.
It got even better for the market in Q3, with iGaming seemingly getting even more popular. As was reported by the governing body in Ontario, iGaming Ontario, now 36 operators are active in the province, 910,000 active accounts were recorded, and platforms saw over US$335 million in revenue. These are quite colossal strides for such a new market, but the increased competition and level of the products introduced are clearly hitting the right mark.
By comparison to the southern neighbors, Ontario’s revenue in Q3 2022 is comparable to the US$389.7 million of Colorado’s total commercial gaming revenue. That said, the Canadian province’s population is around 14.6 million, while Colorado clocks in at a bit over 5.8 million. Still, less than a year in the game, and Ontario is proving its Ontario Fledgling iGaming Market worth and then some already.
2. The key to success is quality and variety
In the past, some iGaming operators have entered new markets with somewhat minimal offerings, either being unable to get certain products licensed or willingly holding back some products to add them later. This is far from the case now. Ontario opened as a very competitive market, and that’s only increased since. So, all operators have had to be on top of their respective games, showcasing all of the most popular games from their other markets, some specialized games for the Canadian market, and a leaning towards the newest, tech-forward games.
Ticking all of these boxes is required for a platform to become the best online casino in Canada right now. The Most Popular tab demonstrates this preference clearly. Not only does it feature the eye-catching slots of Treasures of Aztec, Dragon Hatch, and Jurassic Kingdom, but there’s also the $82K jackpot game A Night With Cleo, blackjack and Canada’s favorite lotto game, Keno Draw.
Having the new slots – at the time of writing – Ed Jones and Book of Seth, Real Life Superheroes, and Oasis Dreams Hot Drop Jackpots also showcase the platform’s willingness to invest in the newest products and keep Canada up to speed with more developed markets. Showcasing this point further is the set of live casino games. The game shows haven’t made it out there yet, but live Super 6, blackjack, roulette, and baccarat are all available. From there, specialty games have good appeal in Ontario Fledgling iGaming Market, as do video poker and regular poker, for that matter.
The new Ontario Fledgling iGaming Market is proving successful because the products that are already available are the best of what the industry has to offer right now. In Q4, there’s bound to be another bump in revenue and players for Ontario.