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TORONTO, May 17, 2022 /PRNewswire/ — Since the beginning of April 2022, the Ontario gambling market has been changed completely, following the appearance of the newly required gambling license issued by the Alcohol and Gaming Commission of Ontario.
CasinoBonusCA is the first online casino database that gathered figures for a preliminary report on the effects of these changes. Here’s what they found out.
40% of gamblers don’t register and deposit as frequently
Even though it has been less than two months since these implementations, CasinoBonusCA has crunched the numbers and discovered that as compared with the same timeframe in 2021, 40% fewer online gamblers signed up to casinos.
Continuing as a domino effect, if they don’t sign up with a new account on online casino sites, that means that they don’t get to make their first real-money deposit. Of course, these are just the first steps in a new era. These percentages are subject to change and will likely be altered in the future as more and more operators apply and receive the specific Ontario seal of approval.
Gamblers who deposit, however, are 1.5 times more likely to do so
From the decreased pool of customers that are actively making payments, their predilections changed.
By mid-May 2022, active users are 1.5 times more likely to make a deposit to fund their player account. That will mean that the spending average will slightly rise compared to last year.
The framework has not been severely changed. A user needs to have accurate data linked to their account, use their own payment methods, and complete KYC (basic or detailed, operator-based rules apply) when they withdraw.
Comparison & review services will see steep a conversion decrease
Review sites have impacted the Ontario gambling market in the previous years.
Ontario’s AGCO licensing provisions now disallow them to promote online offers, which has always been a major pushing force for their services. This will result in a decline in their conversion rates.
CasinoBonusCA’s algorithm projections say that the decrease will go to 40%, even slightly higher than that, compared with May 2021. Further insights on their research can be accessed at: https://casinobonusca.com/.
CasinoBonusCA’s further predictions
So far, we’ve gone over the stable data collected in a short time. However, these effects will stretch long-term.
Following the current triggered patterns, we can expect the following:
- Net revenues for AGCO licensed operators will rise to $1.8 billion in total, considering the higher deposit average.
- Strictly derived from the local statistics, the Ontario market will reach around $750 million in total.
- The new customers that will register from now on will have a higher retention rate, double as compared to the same numbers from the past.
- Review sites will conform to the provisions and change their standards of operation.
We’re still at the beginning of the Ontario gaming metamorphosis. New statistics and practical adjustments will emerge in the future, and the percentages here are subject to change.
View original content:https://www.prnewswire.com/news-releases/casinobonusca-breaks-new-ground-analyzing-ontario-gambling-license-effects-301549393.html
SOURCE CasinoBonusCA
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