Recently, we received the quarterly data forOntario online casinos , which highlighted a notable increase in total gaming revenue between July 1 and September 30. This marked the third quarter of the year, but it was only the second full quarter since the market launch in Ontario on April 4.
The Q2 figures indicated total bets reached an impressive $6.04 billion, with gaming revenues hitting $267 million—a remarkable growth of 48% in wagers and a 65% increase in revenue compared to Q1, which ran from April 4 to June 30.
In the previous week, we got another glimpse into the progress of Ontario’s regulated online gambling sector when PointsBet released its Q1 FY23 earnings report covering its global operations, including its Canadian activities.
PointsBet Sportsbook Ontario The company reported a total global betting handle of $732.3 million USD (approximately $990.5 million CAD), reflecting an 18% rise compared to the previous year. The net earnings from sports betting also saw a 4% year-over-year increase, reaching $44.5 million ($60.1 million CAD).
PointsBet Enhances its Canadian Operations
The Canadian segment of PointsBet showed notable improvements across all key performance indicators as the company strives to establish itself among the industry leaders.Ontario sportsbooks going forward.
In Q1 FY23, PointsBet's betting handle in this area surged by 31% compared to the prior quarter, reaching $18.1 million CAD, with live betting accounting for 59% of the overall handle.
The net earnings for PointsBet in Canada also skyrocketed by 887% compared to the previous quarter, totaling $1.47 million CAD, with sports betting alone contributing $0.35 million CAD.PointsBet online casino achieved a net win of $1.13 million CAD.
Over the six months ending September 30, PointsBet had 13,232 cash-active clients in the region and recorded marketing expenses of $5.5 million CAD for the quarter.
During this period, PointsBet Canada also upgraded its online casino offerings, hosted the PointsBet Invitational—a single-elimination curling event reminiscent of March Madness, which was aired nationwide on TSN—and launched its new advertising campaign titled 'Play On', significantly boosting brand recognition and standing against main competitors.
Casino Sports Betting Now Available in Ontario
The Ontario Lottery and Gaming Corporation has moved forward with sportsbook offerings at casinos, although some believe the process took too long.
After challenging years marked by COVID-19 restrictions, casino operators can finally introduce authentic, Las Vegas-style live sports betting experiences for their guests. This in-person offering complementsbest Ontario casino apps available.
"The introduction of sportsbooks in casinos provides a variety of integrated entertainment options for patrons, enables our providers to have a stake in the sports betting market, and generates more jobs as well as economic benefits for local communities,” remarked Duncan Hannay, President and CEO of OLG.
Paul Burns, president and CEO of the Canadian Gaming Association, stated: “This ongoing partnership will yield new and expanded opportunities for sports betting, including some innovative sportsbooks that have never been seen before in Canada, attracting more visitors to Ontario's casinos and fostering growth in the industry.”
Check out the bestOntario sportsbook apps atdeereplanet.com to conduct research prior to placing any bets.
