Ontario Market Sees 8% Jump in Total Wagers in August
With an 8% month-over-month growth in total cash wagers, the Ontario igaming market gained steam in August, setting up a busy September and October for sports betting.
8% Increase in Sales
This is in line with market financials that iGaming Ontario announced today. Total cash wagers on the market increased from CAD $7.56 billion in July to CAD $8.14 billion in August. Revenue increased by 8% from CAD $311 million in July to CAD $335 million.
The only other occasion Ontario's total cash wagers exceeded $8 billion was in May of last year, when they reached CAD $8.06 billion. Additionally, total income reached a high of CAD $338 million that month.
Additionally, player accounts rise
More precisely, the casino's handle was CAD $7.22 billion, an 89% market share and a 7% rise over July. In May of this year, the casino reached a previous high of CAD $6.95 billion.
In terms of revenue, the online casino made CAD $267.8 million in August, up 6% from the previous month and accounting for 80% of the market. That represents a new high for casino earnings.
The total cash wager for sports betting increased by 11% month over month to CAD $765 million, or 9% of the market. Sports betting generated CAD $60.2 million in revenue, a 14% increase over July and an 18% market share.
Casino Domination Persists
Sports betting had a 10% month-over-month decline in handle and revenue in July, according to iGaming Ontario, so the August recovery is even more striking.
P2P poker wagers totaled CAD $151 million in August, up 9% from July and accounting for a 2% market share. Poker's revenue was CAD $6.8 million, up 15% from July, and it held a 2% market share.
