Ontario’s regulated iGaming market witnessed a 30% decrease in sports betting revenue in August, despite casino wagering hitting a record high market share. The overall wagering in the market reached CA$9.740 billion, based on the latest data from iGaming Ontario.
The overall wagering only dipped by 1% from July’s CA$9.884 billion, while the total non-adjusted gross gaming revenue (NAGGR) decreased by 4% to CA$396.3 million.
NAGGR represents the amount retained by operators from gambling activities before deductions for bonuses, promotional credits, taxes, fees, and operational expenses.
Decline in Sports Betting Revenue
The number of active player accounts fell to 1.208 million, marking an 11% decrease from July. The average revenue per active player account was CA$328, showing an 8% increase month over month.
Casino handle stood at CA$8.776 billion, similar to July’s figure, securing a 90% market share. This was a record high for the casino segment in the regulated market, which was launched in April 2022.
Sports betting handle came in at CA$843 million, experiencing a 15% drop from July, capturing a 9% market share. This decline was expected due to the conclusion of the World Cup and many sports leagues being on hiatus during the month.
Record Market Share for Casino Wagering
Peer-to-peer (P2P) poker saw CA$122 million in cash wagers, a 5% increase month over month, claiming a 1% market share.
In terms of NAGGR, the casino segment reported CA$336.3 million, a 2% rise from the previous month, holding an 85% market share.
Sports betting revenue for the month amounted to CA$54.4 million, witnessing a significant 30% decrease, with a 14% market share. P2P poker NAGGR was CA$5.6 million, a 6% increase from July, securing a 1% market share.
Significant Drop in Player Accounts
The Ontario-regulated iGaming market currently has 49 licensed operators and 84 active gaming websites accepting wagers.
In August, the Alcohol and Gaming Commission of Ontario (AGCO) imposed penalties on three companies, totaling CA$290,000.
Betty Gaming received a CA$120,000 fine on Aug. 6 due to failures in age verification and eligibility systems, allowing 23 individuals under 19 to create accounts on Betty.ca.
AGCO Enhances Enforcement
On Aug. 20, Booming Games faced a CA$70,000 fine for featuring prohibited auto-play functionality on various Ontario slot games for several months.
NorthStar Gaming was fined CA$100,000 on Aug. 27 over alleged anti-money laundering (AML) shortcomings related to one high-risk player’s account.
In August, Fanatics obtained regulatory approval, paving the way for its launch in Ontario. However, Fanatics still needs to finalize an operating agreement with iGaming Ontario before going live.