A few weeks ago, iGaming Ontario released its latest performance report.
This report is based on the trading activities of registered iGaming operators in the province. This new report shows how lucrative the online gaming industry is and how quickly it is growing. This second quarter of the fiscal year, iGaming Ontario reported $18.7 billion in total wagers. This figure shows that the iGaming industry in Ontario has successfully increased its total wagers by 31.7% over the last year. Not only is the industry’s total wagers sum increasing, the number of active players is also on the rise, with over 1.3 million active iGaming player accounts in Ontario.
Why are there so many active iGaming player accounts in Ontario?
Law changes
The iGaming industry in Ontario owes a lot to recent changes in the legislature. In April 2022, online casino gaming and sports betting services became legal in the Canadian province. iGaming providers can now operate legally in Ontario if they complete the registration process of the Alcohol and Gaming Commission of Ontario (AGCO). The providers must also register and sign a contract with iGaming Ontario. After doing so, they can operate in the province legally. The recent legalization of iGaming activities has boosted the growth of the online gaming industry in Ontario.
iGaming Ontario
iGaming Ontario has also contributed to the growth of player base. iGaming Ontario, also known as iGO, helps oversee and regulate Ontario’s online gaming market. Along with the province’s government and AGCO, iGaming Ontario created a new and safer online gaming market. This new market offers licenses to private gaming companies, also called operators. Every private gaming company operating in Ontario must sign an operating agreement with iGO.
This helps protect customers and ensures that the local online gaming market remains well-regulated. iGaming Ontario also offers support and resources to both players and operators to make sure that gaming is safe for all and that everything is transparent and clearly explained. iGaming Ontario has helped the online gaming industry grow by creating a relationship of trust between players and legal operators.
By acting as an intermediary that cares about the well-being of all, iGaming Ontario has successfully attracted private operators to the province and reassured local players.
Thanks to this body and recent law changes, players can now easily find the best online casino bonus and casino provider.
Diversity of games and categories
Another important reason behind the growth of the iGaming industry in Ontario is the diversity of games available, there are thousands of games to choose from within each game category. Currently, the three most popular categories in the iGaming industry are casino games, sports betting and peer-to-peer (P2P) poker.
iGaming Ontario’s latest report suggests that casino gaming remains the most popular category by far. This second quarter (Q2, 2024), casino gaming brought in $553 million in revenue. But the player base continues to increase thanks to the diversity of game categories available and the wide variety of games within each category. In other words, innovative and exciting new games as well as a wide range of gaming options keep the industry afloat. Players love new casino games, but they also need different gaming categories as alternative gaming options. Otherwise, they get bored. That is why the iGaming industry will continue to grow as long as new games are released and more game categories are created.
New providers and promotional offers
Many new players joining Ontario’s iGaming community started their gaming journey thanks to a promotional offer. A promotional offer can include a free casino game or demo game, a welcome package, a discount, cashback, free slot spins, and more. Many providers have promotional offers in place to attract new customers. They need to have attractive offers in place to establish themselves in a very competitive market. The competitiveness in the iGaming market benefits players and the industry at large. For example, because the market is competitive, providers need to create great gaming platforms. They also need to offer frequent discounts and offers. In turn, these contribute to the growth of the industry by attracting new players and retaining returning customers.
Final thoughts
The iGaming industry in Ontario has surpassed 1.3 million active player accounts in the second quarter of 2024. As explained in this article, there are several reasons behind the growth of this player base. Providers and official bodies know how to maintain the industry’s growth and how to attract new players. Because of this, the industry will most likely continue to grow over the next years.