Ontario’s legal online gambling market brought in $162 million in revenue in its first quarter of operations, according to new numbers that provide an initial look at the province’s effort to regulate and profit off the formerly grey market for internet betting.
The top-line revenue figure is the total that operators brought in after paying out player winnings and does not represent the profit the government will ultimately receive. Burns predicted an increase in revenue figures in the coming quarters, noting that several big-name operators, including PokerStars and Betway, did not officially join the Ontario market until either part way through the first quarter or well into July and August. Sports betting also ramps up significantly in the fall with the beginning of the NFL season, he said.
There were 18 operators with a total of 31 igaming websites as of June 30, iGO said . There are now 23 operators and 40 websites. The OLG reported $295 million in revenue for its digital gambling division for all of fiscal 2020-21. For the entire previous five-year period, revenue for the division totalled $406 million.
“I think the operators are balanced in their approach, there are ads about player tools for managing your play and responsible gaming advertising as part of their advertising mix,” he said.
Money taken out of economy without any benefits
Gambling is a loser's game. The house always wins. Those is believe in gambling are engaging in magical thinking. Keep your money, don't gamble, buy beer instead.
Ontario's gambling problem 'Know your limit play within in it' BUT Here's a new vice for you to waste your hard earn cash on so we can get rich-lol