The full Ontario sports betting market and online casino industry have been around for over a year now, and both the handle and revenue have been excellent. This news comes as a new bill could put a stop to all online wagering advertisements in the future, although that decision won’t be made until fall. The province is home to plenty of major names in the mobile betting scene such as Caesars, FanDuel, BetMGM, and DraftKings, as well as rising platforms such as Northstar Bets.
Ontario Online Betting Sees $35.6 Billion Handle In First Year
It’s safe to say that the first year of online betting in the province of Ontario has been a success. According to Yahoo! Finance, the province’s online betting industry generated $35.6 billion in total handle within its first year, putting the area in the same category as major betting states in the U.S. like New Jersey, Michigan, and Pennsylvania, each of which offers sports betting and online casino apps.
It’s also comparable with the massive New York betting scene, which doesn’t currently offer iCasinos. Within the first year, the industry attracted 45 different betting operators and over 1.6 million active participants.
Ontario online casino gaming and single-game sports betting were both launched on April 4th, 2022 and were instrumental to that total number alongside online poker and bingo. Overall revenue from Ontario online wagering exceeded $1.48 billion.
Sports betting generated an estimated total of $1.56 billion for Ontario’s Gross Domestic Product, with the industry’s total number projected to be $2.9 billion by 2024. These numbers come courtesy of a recent iGaming Ontario report.
Ready to Represent ⭐️
— Toronto Blue Jays (@BlueJays) June 26, 2023
Ontario Betting Advertisements Face Uncertain Future
While the first-year numbers are definitely encouraging for the future of mobile betting in the province of Ontario, one major factor could limit growth in the industry: a ban on advertising. According to Legal Sports Report, a new bill has just been introduced that may not just limit ads for online betting apps, but ban them outright.
Although the bill was only just revealed, it will take some time before major decisions can be made on the future of Ontario betting ads. That’s because the bill was announced during the closing spring session days, meaning lawmakers won’t be able to act on it until fall of 2023.
— Toronto Raptors (@Raptors) June 23, 2023
NorthStar Bets Emerges As Major Betting App
While it’s not surprising to see major names like DraftKings and FanDuel succeed in the Ontario online gaming scene, one platform has turned some heads since launch with NorthStar Bets. With both an online sports betting app and mobile casino rolled out, NorthStar Gaming has grown into a major competitor in the area.
NorthStar Gaming had an especially strong start to 2023, with a $139.5 million handle in the first quarter. This represents a 24% jump from the fourth quarter of 2022, while gross gaming revenue reached $4.4 million. NorthStar should also continue growing its fanbase with its focus on not just betting, but also journalism. The platform recently acquired SlapShot Media, a company focused on managed services and gambling marketing.