iGaming Ontario's annual report for fiscal year 2022-23 provides the most comprehensive public accounting yet of the province's experiment with a competitive internet gaming marketplace. Released in late 2023, the document details operational performance, financial flows, responsible gambling metrics, and compliance data that together paint a picture of a market in robust expansion — but one where regulatory attention to player protection continues to intensify.
The report covers the period from April 1, 2022 to March 31, 2023, representing iGaming Ontario's second full operational year. The organization was established by the provincial government in July 2021 as a subsidiary of the Ontario Lottery and Gaming Corporation (OLG), with the mandate to manage and oversee a competitive market for internet gaming in Ontario.
Organizational Mandate and Governance
iGaming Ontario's role is distinct from that of AGCO, which serves as the primary regulator and issues registrations to operators. iGaming Ontario acts as the market operator: it concludes Operator Agreements with each registered entity, collects and distributes revenues, sets market conduct standards, and monitors compliance with contractual obligations.
This dual-body structure — regulator (AGCO) and market operator (iGaming Ontario) — was designed to maintain clear separation between public interest oversight and commercial market management. In practice, the two organizations work closely, sharing compliance data and coordinating enforcement responses when operators breach their obligations.
Total Wager Volumes
The headline figure from the annual report is $38.4 billion in total wagers processed across the Ontario market in FY 2022-23. This encompasses all stakes placed by registered Ontario players across all verticals: online casino games (slots, table games, live dealer), sports wagering (pre-game and in-play), and online poker.
The casino vertical — encompassing both RNG (random number generator) and live dealer products — generated the largest share of gross gaming revenue, consistent with patterns observed in comparable markets such as New Jersey and Michigan. Live dealer games, which provide a real-time streamed dealer experience, experienced particularly strong growth driven by investment from leading suppliers including Evolution Gaming and Pragmatic Play Live.
Sports wagering contributed a material share of total wager volume, benefiting from the full first NFL and NHL seasons conducted under the regulated framework. The NFL in particular drives outsized wagering volumes in the Canadian market relative to other sports, a pattern reflected in operator marketing spend and product development priorities.
Vertical Breakdown
While iGaming Ontario does not publish precise vertical-by-vertical GGR breakdowns in its public report, industry estimates and operator disclosures to other regulatory bodies offer a reasonable approximation. Casino products (slots and table games combined) are estimated to account for approximately 60 to 65 percent of total GGR, with sports wagering at approximately 30 to 35 percent, and poker representing a smaller but dedicated segment.
The poker segment is structurally constrained by Ontario's liquidity ring-fencing requirement, which prohibits Ontario-registered operators from sharing player liquidity with operations in other jurisdictions. This means Ontario poker tables consist exclusively of Ontario-resident players, limiting game selection and prize pool sizes compared to shared-liquidity networks available to players on offshore platforms.
Responsible Gambling Allocation
Under the revenue-sharing formula embedded in each Operator Agreement, iGaming Ontario retains a portion of operator GGR and directs a designated share to Responsible Gambling Ontario. The annual report confirmed that this contribution totalled approximately $68 million in FY 2022-23 — an increase from the prior year commensurate with overall GGR growth.
The responsible gambling funding supports a range of services, including the ConnexOntario mental health referral service, research programs through CAMH, and the iGAS self-exclusion register. Operators are required under the Registrar's Standards to prominently display links to iGAS and to honour exclusions in real time using a shared registry system.
Operator Compliance Overview
The annual report notes that AGCO conducted compliance audits of all registered operators during the fiscal year, focusing on technical standards, responsible gambling program implementation, advertising practices, and Know Your Customer (KYC) procedures. The majority of operators received satisfactory assessments. However, the report acknowledges that compliance notices were issued in several cases, with advertising standard breaches being the most common trigger.
AGCO's advertising standards for iGaming were updated in 2022 and again in 2023, progressively tightening requirements around celebrity endorsements, bonus promotion disclosures, and the prohibition on targeting individuals under 25 years of age in marketing materials. The enforcement pattern suggests that some operators and their affiliate partners have struggled to adapt to these evolving requirements.
Year-over-Year Comparison
Comparing FY 2022-23 to the prior year — which covered only the partial period from April 2022 — requires accounting for the truncated nature of Year One data. On an annualized basis, Year Two GGR growth is estimated at approximately 25 to 30 percent, a rate that reflects both organic market growth and the arrival of additional operators throughout the year.
Player account registration data shows continued strong new account creation, particularly in the first half of FY 2022-23 when several major operators launched Ontario-specific products or expanded existing offerings. By the second half of the year, new registration growth rates had moderated, suggesting early adopter saturation and a shift toward deeper engagement with existing registered players.
Policy Implications and Year Three Outlook
The annual report concludes with a section outlining iGaming Ontario's policy priorities for the upcoming fiscal year. These include enhanced monitoring of affiliate marketing practices, updated technical standards for live dealer products, expanded use of real-time compliance data sharing with AGCO, and a review of the responsible gambling tool mandates to assess their effectiveness relative to industry benchmarks.
For the industry, the FY 2022-23 results confirm that Ontario's competitive iGaming model has delivered on its primary commercial objectives: substantial tax revenue, reduction in grey-market operator activity, and the establishment of a regulated environment with meaningful player protection infrastructure. The challenge for Year Three and beyond will be sustaining growth while managing increasing regulatory complexity.