In the latest sports betting news, we are taking a look at the Ontario sports betting market as it continues to grow even more successful than last quarter. Bookies use the PricePerPlayer.com software to monitor the wagers coming in their sportsbooks, and governments do the same. In the US, each state monitors local activity, and in Canada, they do the same for their provinces.
Ontario is one of the most populous provinces in Canada, and its population loves sports betting. In fact, sports betting has almost doubled in the latest quarter. The total handle for Ontario sports betting is at $11.5 billion for three months that ends December 31. This gives us a 90.9% increase from the previous quarter.
Ontario Sports Betting Report Shows Immense Growth
Anyone wanting to know how to open a sportsbook will be encouraged by the numbers that the province’s sportsbooks have generated. The total gaming revenue that was generated for the same period is $457 million. This is 71.2% higher than the previous quarter as well.
The breakdown that the government regulator, iGaming Ontario (iGO), presented in vague. The report does not detail the share between sports betting and online casino gaming. But other indicators are showing us the development of the local betting market.
The number of operators has increased from 24 to 36, websites increased from 42 to 68. Active player accounts also increased from 628,000 to 910,000. Ontario is a good example, not just for you as you are planning your bookie business, but for other provinces as well. Ontario is the only Canadian province with iGaming, so even if there are issues on gambling advertising and such, betting continues to be popular. Other provinces could try an iGaming option so they can also collect taxes from earnings on sports betting, casino gaming, and more.