Ontario’s open single-game sports-betting industry continues to thrive
Global News
iGaming Ontario released a report that states the industry contributed $2.7 billion to Ontario's gross domestic product in 2023. That's up roughly 70 per cent 2022.
Ontario’s single-game sports betting industry is on a winning streak.
On Wednesday, iGaming Ontario (iGO) released a report that states the industry contributed $2.7 billion to Ontario’s gross domestic product in 2023. That’s up roughly 70 per cent from $1.58 billion in 2022, its initial year of operation.
The industry opened up fully in Ontario on April 4, 2022. Ontario remains the only province in Canada to have an open, regulated igaming market.
The report, which was conducted by Deloitte, covered from April 4, 2022 to April 3, 2023.
“I like this report because it goes broader into the overall economic benefits to the province,” said iGO executive director Martha Otton. “It’s easy to focus on the revenue share that we provide to the province but what this report highlights is all of the other benefits to the three levels of government as well.”
The report said the second year of Ontario’s regulated market included 47 operators and 77 gaming sites. Those are up slightly from 45 and 76, respectively, in 2022.
The report added for every dollar spent by igaming operations, an estimate $1.40 of GDP was supported in Ontario’s economy. That’s up from $1.14 in the first year.
The report also stated the Ontario market sustained 14,935 jobs (up from 12,070, a 24 per cent increase). Operators employed approximately 2,675 people directly with an average compensation at $122,500 per person, which was 60 per cent higher than the average stipend per job in Ontario.
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