TLDR
- Ontario’s iGaming market saw significant growth in Q1 2024-25, with active player accounts doubling to 1.9 million.
- Total amounts wagered increased by 31.4% year-over-year, reaching CA$18.4 billion (US$13.3 billion).
- Revenue grew by 34.4% year-on-year, amounting to CA$726 million (US$525 million).
- Online casino activities dominated, comprising over 84% of total wagers and nearly 73% of revenue.
- Sports betting saw a 25% increase in wagers year-over-year, but declined for the second consecutive quarter.
- Ontario’s online poker market grew 3.4% year-over-year, outperforming New Jersey and Pennsylvania.
Ontario’s iGaming market has demonstrated robust growth in the first quarter of the 2024-25 fiscal year, with significant increases in active players, wagering, and revenue. This expansion underscores the province’s success in creating a regulated online gambling environment that attracts both operators and players.
According to the latest report from iGaming Ontario, the total amount wagered across all categories reached CA$18.4 billion (approximately US$13.3 billion) for the quarter ending June 30, marking a 31.4% increase year-over-year. This growth was driven by a substantial rise in active player accounts, which more than doubled to 1.9 million, representing a 106.5% increase compared to the same quarter the previous year.
The market’s expansion is supported by 50 operators managing 80 online platforms, reflecting the competitive nature of Ontario’s regulated iGaming sector.
Martha Otton, Executive Director of iGaming Ontario, highlighted the success of the province’s approach, stating, “Ontarians who choose to gamble are finding many enjoyable options in our open regulated iGaming market.”
Revenue for the quarter grew by 34.4% year-on-year, amounting to CA$726 million (US$525 million). This increase in revenue directly contributes to provincial priorities such as infrastructure, healthcare, and education, according to Otton.
Online casino activities dominated the sector, comprising over 84% of total player wagers and nearly 73% of the revenue. Player wagers on slots, table games, and peer-to-peer bingo amounted to CA$15.5 billion (US$11.2 billion), representing a 33.6% increase from the prior year. The average monthly spend per active account also saw a notable 44.2% year-on-year increase, reaching CA$284 (US$205).
Sports betting, while showing growth, experienced some fluctuations. Total sports betting wagers reached CA$2.5 billion (US$1.8 billion), a 25.0% increase from Q1 2023. However, this marked the second consecutive quarter of decline in online sports betting handle. Despite this, an improved hold rate of 7.24% resulted in a 31.2% year-on-year increase in sports betting revenue, totaling CA$181 million (US$130.8 million).
Ontario’s online poker market has shown particular strength, growing 3.4% year-over-year and outperforming markets in New Jersey and Pennsylvania. Revenue from online poker totaled CA$16 million (US$11.7 million) during Q1 2024. This growth is especially noteworthy as both New Jersey and Pennsylvania saw declines in their online poker revenues during the same period.
Peer-to-peer poker wagers in Ontario reached CA$402 million (US$290.6 million), up 14.9% year-on-year but down 9.9% from the last quarter of 2023-24. While poker’s contribution to overall gaming revenue remains relatively small at 2.2% of both handle and profits, its year-over-year growth indicates a healthy niche within the broader iGaming market.
The success of Ontario’s iGaming market can be attributed to several factors, including a well-regulated environment, a diverse range of gaming options, and effective marketing strategies by operators.
The province’s approach to regulation has created a competitive market that benefits both players and the provincial government through increased tax revenue.
Ontario’s iGaming success story provides valuable insights for other jurisdictions considering or implementing online gambling regulations.
