Ontario iGaming market sees an 8% increase in cash bets in August

The Ontario iGaming market has seen an 8% month-on-month increase in cash wagers in August, ahead of sports betting season in the fall.

According to data from iGaming Ontario in its monthly reports, the region’s iGaming market picked up speed in August ahead of the sports betting season getting underway throughout September and October. $8.14 billion CAD ($5.8 billion USD) cash wagers were made throughout the month, up from $7.56 billion CAD in July. That put revenue at $335 million CAD, an 8% increase from the month before.

The last – and only other time – that Ontario hit $8 billion in total cash wagers was May of this year, when it reached $8.06 billion. This marks an all-time high for the region’s iGaming market.

Ontario players flock to iGaming

This rise in cash wagers seems to stem from an influx of players, with active player accounts increasing by 7% in August. The total number has hit 11,016, with average revenue per active player account at CAD $330, an increase of 1% from July.

Digging closer into the numbers, casino handle has also hit a new high of $7.22 billion CAD, earning itself an 89% market share. It beats a previous market high of $6.95 billion CAD in May.

Online casino also breaks records with revenue of $267.8 million CAD in August, securing an 80% market share, while sports betting saw an 11% month-on-month increase in total cash wagers. That’s ahead of sports betting season getting underway in earnest with the return of the NFL in September and October.

The increase in sports betting is even more pronounced when you remember that July saw a 10% decease when compared to June. That highlights the impressive performance in the market in August still further.

For poker, cash wagers in August reached $151 million CAD, a 9% increase from the month before. That results in $6.8 million CAD in revenue, a 15% increase from July.

Featured image: Pexels

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