Online poker in Ontario keeps on growing. According to the latest market data, operators generated all-time highs in revenue.
According to iGaming Ontario (iGO), peer-to-peer poker hit a record CAD $431 million (USD $318.7 million) in wagers during the period October to December (which, confusingly, the regulator calls Q3 of its financial year).
Poker also generated a record CAD $17 million (USD $12.6 million) in revenue during the quarter.
Wagers from online poker were up nearly 9% from the preceding quarter ($397 million). For the second consecutive quarter, Ontario’s six online poker rooms, spread across four networks, added $1 million in revenue.
GGPoker, PokerStars Tops in Cash Game Traffic
So, how did each individual operator do?
While iGO reported that wagers and revenue from Ontario online poker increased in Q3, determining how each of the province’s six poker rooms performed individually is more of a challenge. That’s because iGO doesn’t provide those figures with a breakdown by operator.
“As part of its commitment to sharing aggregate revenue and market insight reports, iGO intends to continue releasing, at minimum, a market report on a quarterly basis,” the regulator said Wednesday.
Meh, not helpful. But a look at cash game traffic during the quarter provides some clues.
According to data from GameIntel, available on Poker Industry PRO, the average number of concurrent cash game players was 637 during the same period. GGPoker Ontario, aka WSOP Ontario, where Negreanu serves as a player ambassador, averaged the most players during the quarter with 281, or 44.1% of the total.
PokerStars Ontario was second with an average of 253 concurrent cash game players, enough for 39.7% of the total. The BetMGM Ontario Network — which includes bwin and partypoker — was a distant third with 74 players (11.6%), while 888poker was last with 29 players (4.6%).
If cash game traffic were precisely indicative of overall market size, then $17 million in revenue from online poker revenue would be distributed as follows:
- GGPoker Ontario – $7.5 million
- PokerStars Ontario – $6.8 million
- BetMGM Ontario Network – $2 million
- 888poker Ontario – $782,000
The regulator began sorting wagers and revenue by vertical with its report for Q1 2023. The new format provides a more accurate picture of how peer-to-peer poker stacks up with online casino gaming and sports betting.
Total wagers hit a record $17.2 billion in Q3. That includes the aforementioned $431 million contribution from online poker, but online casino and sports betting were much larger — at $13.7 billion and $3.1 billion, respectively.
Overall revenue from igaming hit a record $658 million. Broken down by vertical, that included $471 million from online casino, $171 million from sports betting, and the $17 million from poker.
Huge Increase in Active Player Accounts
Q3 was remarkable for something else — a big increase in the number of active player accounts.
According to iGO, the number of active player accounts surged to 1.2 million in Q3. By comparison, there were 943,000 active player accounts in Q2 and 910,000 in the year-ago quarter.
“Active player accounts are accounts with cash and/or promotional wagering activity during the time period and do not represent unique players as individuals may have accounts with multiple operators,” the regulator said.
Ontarians spent an average of $186 a month on igaming in Q3. That’s down five bucks from Q2, and down $19 year-over-year.
Note: A rate of CAD $1 = USD 74 cents was used for monetary conversion purposes.
