Ontario ranks close second in North America in online gambling revenue through first three years
The province likely will jump to No. 1 over the leading U.S. jurisdictions when we get OLG's online gambling figures.
Three years after launching an open online gambling sector, Ontario is faring remarkably well when compared to the three most comparable U.S. states (those that have both online casinos and sports betting). In fact, the province is a continental powerhouse.
Gaming News Canada crunched the numbers and found Ontario ranks a close second in total online gambling revenue for each jurisdiction’s first three years, even when Ontario figures are converted to U.S. dollars.
To be fair, Ontario is likely No. 1 in revenue in this comparison when you consider the numbers released by iGaming Ontario (iGO) do not include those for the digital platforms operated by the Ontario Lottery and Gaming Corporation (OLG), which through the first two years made up about 20% of the total Ontario online revenue. But, since we don’t have the OLG numbers, yet, for third fiscal year since the open sector launched in April, 2022, we’ll just stick to iGO-only figures for this exercise.
By that score, the rankings by total online gambling revenue in U.S. currency are as follows:
Michigan — $5.965 billion
Ontario — $5.221 billion*
Pennsylvania — $4.107 billion
New Jersey — $1.546 billion
*Using the average Bank of Canada exchange rate for the three-year period of 0.739. Also, Ontario’s numbers include online poker, which is included in the other states, as well.
The first three years of online gambling in Michigan was from Feb. 1, 2021 through Jan. 31, 2024. Pennsylvania’s first three years ran from Aug. 1, 2019 through July 31, 2022. New Jersey’s first three years of online casinos was from Dec. 1, 2013 through Nov. 30, 2016. The first three years of sports betting in the Garden State was from June 1, 2018 through May, 2021.
As we reported last week, Ontario exceeded $7 billion CDN in total online gambling revenue in its first three years combined.
Broken down further the ranking for the first three years of operation, Ontario is #1 in sports betting revenue and #2 in online casino revenue when converted to U.S. dollars.
Total sports betting revenue first three years:
Ontario — $1.29 billion
Michigan — $1.2 billion
Pennsylvania — $1.1 billion
New Jersey — $1.09 billion
Total online casino revenue first three years:
Michigan — $4.77 billion
Ontario — $3.8 billion
Pennsylvania — $3 billion
New Jersey — $457.5 million
It’s important to note that not all jurisdictions went full bore with operators upon launch. Some developed more slowly. In the case of New Jersey, it was light years ahead of the others in terms of online casinos. So, it was first operating when online gambling was in its infancy.
Still, the Ontario results are remarkable considering the three U.S. states are considered the gold standard in terms of online gambling in North America. Meanwhile, Ontario, which features more than 50 operators offering more than 80 gambling platforms, rarely gets mentioned south of the border.
That’s strange considering by most accounts, Ontario is the market leader.
BetMGM says it leads Ontario online casino operators
Speaking of market leaders, BetMGM says it’s the top online casino dog in Ontario by revenue share.
It’s tough to know for sure, of course, because iGO does not release individual operator numbers, but we’ve heard this before from BetMGM.
In a Tom Nightingale story published Tuesday at Canadian Gaming Business, BetMGM CEO Adam Greenblatt also said BetMGM’s revenue share is also increasing.
“We have just got Q1 financial numbers from Ontario and we have increased our market share,” Greenblatt said on Monday’s call. “I won’t tell you what it is, I’m not in a position to do that, but we have increased our market share in both sports and iGaming, and we remain the market leader in iGaming.”
As Nightingale wrote, “At last year’s SBC Summit North America in New Jersey in May 2024, Greenblatt told CNBC’s Contessa Brewer in a keynote speech that, ‘We are the number one gaming operator in Ontario with 22% market share’ across both online casino and online sports betting.”
Betty Canada CEO Chavdar Dimitrov on the GNC Show
The growth of online gambling platform Betty is another Ontario success story and the company’s Canada CEO, Chavdar Dimitrov, joined host Steve McAllister on a recent Gaming News Canada Show to talk about it.
You can listen to the show here via your favourite podcast app or watch it here:
In addition to sharing his story on his journey through the gaming industry and creating Betty with Justin Park, Dimitrov also spoke about the company’s success in the highly-competitive Ontario industry, a customer base that is split evenly today between men and women, and Park’s recent comment about Betty becoming the “McDonald’s of iCasino” with its plans to “transform Betty into a global powerhouse… through a decentralized franchise model.”
Hear about that and much more on the latest show.
Convention centre coming to Casino Lac-Leamy
GGB News reported this week that the Québec government has approved the construction of a new convention centre for Casino Lac-Leamy in Gatineau.
The 100,000-square foot complex will be a joint, two-year project between Quebec’s government and Loto-Québec, which is committing $50 million to the construction.
Once completed, the convention centre will be able to attract more large-scale events. The casino will operate as normal during construction.
Casino Lac-Leamy is located just 25 kilometres from the Hard Rock Hotel & Casino in Ottawa.
People on the Move
EGR Global reports this Wednesday a.m. that Better Collective co-founder and Chief Operating Officer Kirk Rasmussen will become co-Chief Executive Officer with fellow founder Jesper Sogaard.
Entain CEO Stella David has the “interim” removed from her title.
Matt Bailey has stepped down as CEO at GameOn, but will continue with the company as an Advisor.
Jae Chalfin is appointed Chief Executive Officer at Sportlight Technology.
David Henderson is named Chief Technology Officer at PA Media Group and will begin his new duties in July.
Patrick Eriksen is the new Head of Marketing at Kiron Interactive.
Legal beagle and gaming industry veteran Jeff Ifrah launches consulting firm NexusOne.
Kevin Sweeney has a new position at Gaming Security Professionals of Canada: Executive Director.
Friend of GNC Rebekah Jackson is elevated to Global Gaming Director at GBG Plc, and Nicola D’Amelio is promoted to Customer Success Director.
Phil Valente, Major League Soccer’s former Director, Sports Betting, is appointed Director, Customer Success – North America at Aristocrat Interactive.
Zack Pearlstein departs GME Law to join the Canadian Football League as Director and Legal Counsel – Commercial.
Global Gaming Women names Cynthia Gonzalez is Education and Programs Manager.
Melissa Eratostene makes her return to The GIST as an Account Executive after a little more than a year as Development Manager, Integrated Sports Sales at Sportsnet.
Classified (Jobs) Information
Wanted by the National Football League: a Vice President of Global Influencer Marketing.
There’s an opening at iGaming Ontario for a Senior Manager, Strategic Policy.
Pinnacle has an opening at its North York location for a Senior Data Warehouse Engineer.
PENN Entertainment currently has a cornucopia of employment opportunities.
BetMGM has put out an APB for a Content Management Specialist, Sports.
BCLC is on the prowl for a Manager, CRM Player Development.
Atlantic Lottery has an opening for a Social Media Strategist to be based out of Halifax or Moncton.
Entain is hiring a Tax Compliance & Reporting Manager.
Hard Rock Digital has an opening for an Acquisition Manager in Toronto, a Project Manager, and a Payments Supervisor.
FanDuel wants to bring on board in the Big Apple a Counsel Manager.
Galaxy Gaming is seeking a Director, Human Resources for its Las Vegas offices.
SharpStakes as a Toronto-based opportunity for a Marketing Intern.
Gambling.com Group is in hiring mode for a Director of PMO at its offices in Charlotte, N.C.
The National Hockey League is searching for a Manager, Business Development – Media.
Our friends at Sports Business Journal are hiring an Editor/Digital Producer.
And sports business publication Sportico is seeking a Social Media Designer & Producer.
For its offices in Los Angeles, Wasserman is searching for a Senior Director, Olympic Strategy & Consulting.
There is a Director, Communications – Leagues Cup opportunity at MLS League Office.
Live Nation Entertainment is on the lookout for a Director, Sponsorship Sales.
The Provincial Women’s Hockey team is seeking a couple of graphic designers, and is also hiring a Senior Video Producer/Editor.
The expansion Toronto Tempo are in the market for an Account Executive, Ticket Sales & Service.
MLSE is looking for a Manager, Revenue Development, MLSE Foundation, and an Account Manager, Partnership Development.
Nordiq Canada is sounding the horn for nominations to its Board of Directors. Ditto for Sport BC, and for Pickleball Canada.
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