When you sign-up through links on our site, we may earn an affiliate commission. Learn more >

Ontario Sees $2 Billion Wagered on Sports in First Quarter of Fiscal Year

Written by: Michael Savio
Published July 26, 2023
6 min read
Ontario Sports Betting Revenue

Ontario iGaming finally revealed their first quarter numbers, which showed that $2 billion was bet on sports within the province from April 1 through June 30. The revenue from sports betting accounted for 14% of all gambling wagers to kick off the new fiscal year. That puts Ontario on track to surpass its $7 billion total from its first fiscal year (April 1, 2022 - March 31, 2023). 

Ontario sports betting generated $138 million in revenue in the first quarter, accounting for a quarter of the province's gaming revenue. The total gaming revenue was $545 million, far surpassing the $162 million they saw in last year’s opening quarter. While sports have contributed to that jump, the overwhelming majority comes from regulated online casinos.

Online Casino games had a $27.6 billion handle in the quarter, while online poker added another $992 million. With Ontario taxing operators at 20%, they saw a record-high $109 million in tax revenue from online gaming. 

Transition of Grey Market Boosted Gaming Revenue

One big reason for the increase in 2023 has been the transition of the grey-market sportsbooks and casinos. The “grey market” refers to unregulated foreign sites that were allowed to operate in the province. Bettors could legally access those sites but would not have legal recourse if an issue arose.

Ontario ended the grey market on October 31, 2022. The Alcohol and Gaming Commission of Ontario let operators know they would either need to enter the regulated market or exit the province entirely. The transition has taken some time, but many former grey-market operators have become licensed to operate in Ontario. 

The licensing of former grey-market casinos and sportsbooks has brought their users into the regulated market, further growing the online gaming market in the Heartland Province. The new operators have also led to fierce competition, which has benefited players and helped Ontario see record-high handles.

Image for Michael Savio


Michael Savio

358 Articles

Michael is an avid sports fan and a veteran bettor from Milwaukee. He learned the trade from his grandfather in Las Vegas as a kid and has turned that into a successful career. He cheers for all Wisconsin pro teams along with his Alma Mater Arizona State. He specializes in baseball betting, but has experience in football, basketball, and hockey as well. When he isn’t pouring over stats, he’s spending time with his two young children.

More info on Michael Savio
We've been featured on:
espn logo
reuters logo
cbs-news logo
forbes logo
entrepreneur logo
entrepreneur logo
We only list licensed sportsbooks

© Rebel Penguin ApS 2024 (a subsidiary of Gaming Innovation Group Inc.)

We support responsible gambling. 21+ Only. Gambling problem? Call 1-800-Gambler.

WSN.com is run by iGaming Cloud Inc (a Gaming Innovation Group Subsidiary) and is registered with the New Jersey Division of Gaming Enforcement (DGE) under affiliate vendor ID 89744, with the Indiana Gaming Commission (IGC) under certificate of registration number SWR-000148, approved by the Pennsylvania Gaming Control Board as a gaming service provider, under certificate registration number 117656-1, possesses a Vendor Minor sports betting license from the Colorado Limited Gaming Control Commission (account number 94414163), granted a vendor registration number VR007603-20-001 by the Michigan Gaming Control Board, an interim Sports Wagering Supplier license, under license number SWS 066, issued by the West Virginia Lottery Commission, a sports betting vendor registration, under registration number #100400, issued by the Director of Gaming Licensing and Investigations of the Virginia Lottery to operate in the State of Virginia, and a Vendor Registration issued by the Sports Wagering Committee of the Tennessee Education Lottery Corporation.

Advertising disclosure: WSN contains links to online retailers on its website. When people click on our affiliate links and make purchases, WSN earns a commission from our partners, including ESPN and various sportsbooks.