Online Gambling On The Rise In Ontario, Still Far Behind Its Rivals
The Ontario Lottery and Gaming Corporation (OLG) released its 2016-17 report, revealing the annual performance of the provincial crown corporation.
The government-owned agency reported revenue of $6 billion, with lotteries and land-based casinos accounting for 97% of this sum, with $2.95 billion and $2.87 billion respectively.
More Players, More Money
OLG’s online gambling site PlayOLG.ca launched back in January 2015, recorded an 18.7% increase in revenue to $46.5 million, but there is detailed information on the contributions of individual verticals.
With 16% more players, OLG managed to gross $21.8 million, which represents a solid jump of 84%.
It should be mentioned that PlayOLG’s results exceeded the last year’s expectations, while the company expressed hope that its iGaming business would continue the growth trend, especially since its first mobile application had gone live in May last year.
OLG governance stated the company needed to respond quickly to the existing market dynamics in order to keep up with its online competitors and their broader portfolio of products and promotional offers.
More Competitiveness Needed
In related news, the Loto-Quebec announced its Espacejeux.com site had recorded around $66 million in revenue during the first nine months of the current fiscal year, which represents an increase of 42.1% when compared to the corresponding period of last year.
Loto-Quebec revealed that online lottery sales recorded a 39.3% growth, with online casino going up by 44.4%.
Although Espacejeux went live in 2010, Ontario has a larger population, which means there’s more revenue potential. However, it turns out this doesn’t have to be such an important factor, since British Columbia’s PlayNow reported revenue of $125 million, far more than Ontario and Quebec combined, which is a fantastic result give the province has a population of around 4.5 million. By comparison, Quebec’s population is around 8.5 million, and Ontario’s exceeds 14 million.