The iGaming industry in Ontario has seen significant growth in the first quarter of the fiscal year 2024-25. According to iGaming Ontario, the period from April to June 2024 was a booming time for the province’s regulated online gaming platforms, with 50 operators actively involved.
Martha Otton, the Executive Director at iGaming Ontario, expressed her delight at the sector’s expansion. She mentioned that the regulated iGaming market has seen an increase in operators and wagering activities, providing players with a wide range of gaming options. This growth not only improves the gaming experience but also contributes significantly to provincial funds for infrastructure, healthcare, and education.
Key performance metrics for the quarter showed promising results. The total wagering amount reached $18.4 billion, marking a 3.4% increase from the previous quarter and a 31% increase from the same period last year. Gaming revenues were also strong, totaling $726 million, which represented a 5.2% increase quarter-over-quarter and a 34% increase year-over-year. These revenues were calculated from cash bets and game-related fees, excluding operational costs.
User engagement was high during the quarter, with nearly 1.9 million player accounts active. These accounts included both cash and promotional betting activities, with an average monthly spend of around $284 per player. It’s important to note that some players may have accounts on multiple platforms, so the figure doesn’t necessarily represent unique individual players.
Casino games were the most popular category in terms of wager distribution, accounting for $15.5 billion or 84% of the total wagers. These games, which include slot machines, digital and live table games, and peer-to-peer bingo, generated $529 million in gaming revenue. Sports betting also performed well, with $2.5 billion wagered and $181 million in revenue. Events like the Stanley Cup Final contributed significantly to the volume of wagers.
Peer-to-peer poker saw a slight seasonal dip, with $402 million in total wagering and $16 million in revenue. Major poker events like the World Series of Poker in Las Vegas may have influenced this decrease, drawing players away from local platforms.
iGaming Ontario remains committed to transparency and accountability by regularly publishing market performance reports. These reports offer insights into market dynamics and help assess the impact of regulatory measures on the province’s economic benefits.
Looking ahead, the Ontario iGaming market is expected to continue its growth trajectory, exceeding expectations and playing a key role in the province’s economic and social objectives. The success of this sector is a reflection of a strong regulatory framework and the diverse range of gaming options available to residents.
