Ontario Online Gambling Sets Record with CA$22.7 Billion in Q3

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January 25th, 2025
Back Ontario Online Gambling Sets Record with CA$22.7 Billion in Q3

Ontario’s online gambling market hit a record-high spend of CA$22.7 billion in the third quarter of the 2024-25 fiscal year, marking a 32% year-over-year increase, according to data released by iGaming Ontario. The report also confirms that moving forward, the province will transition from quarterly to monthly reporting to provide more timely insights into market trends.

The third-quarter data, covering the period from October to December 2024, also reflects a 22% rise compared to the previous quarter, with online casino continuing to be the dominant sector.

Casino segment leads market growth

The online casino segment accounted for CA$18.9 billion in total spending during Q3, reflecting a 38% increase compared to the same quarter in the previous fiscal year. Casino games, including slots, live dealer, and peer-to-peer bingo, contributed to 83% of the total market spend, maintaining their position as the primary source of activity in Ontario's regulated online gambling sector.

Revenue from the online casino segment reached CA$644 million, representing a 37% year-on-year rise, reinforcing its position as the primary revenue driver.

Sports betting and poker performance

Ontario’s sports betting sector, which includes traditional sports, esports, novelty, and exchange betting, reported a total wagering volume of CA$3.4 billion in Q3, up by 10% compared to the previous year. However, sports betting revenue fell by 3%, amounting to CA$166 million, reflecting changes in player behavior and market dynamics.

Meanwhile, peer-to-peer poker experienced a slight decline, with wagers totaling CA$418 million, down 3% year-over-year, and revenue reaching CA$16 million, a 6% decline from the previous year.

December sets new monthly record

The introduction of monthly market reports by iGaming Ontario provides further insights, with December 2024 setting an all-time high for online gambling activity.

Total wagers in December hit CA$7.8 billion, a 28% increase compared to December 2023 and a 4% increase over November 2024, which previously held the monthly record.

Casino spending for December alone reached CA$6.5 billion, marking a 33% year-over-year increase, while sports betting grew 9% to CA$1.1 billion, despite a drop in sports betting revenue by 28%, which fell to CA$39 million. Peer-to-peer poker declined by 8%, with spending totaling CA$141 million, and revenue down to CA$5.6 million, a 7% year-on-year decline.

December's total market revenue stood at CA$269 million, which, despite showing a 19% increase from the previous year, reflected a 10% decline compared to November’s figures.

Market overview and operator activity

The Ontario market continues to expand, with 50 licensed operators managing 83 active gaming websites during Q3. The province’s iGaming framework, established in April 2022 https://news.worldcasinodirectory.com/ontario-igaming-market-posts-impressive-opening-handle-and-revenue-figures-104247, aims to provide a safe and regulated environment for players, with increased transparency and reporting now offered through monthly performance reports.

With the move to monthly reporting, iGaming Ontario aims to provide stakeholders with better visibility into market performance, player preferences, and evolving trends. The shift is expected to facilitate faster decision-making for operators and regulators alike, as Ontario continues to refine its regulatory approach to online gaming.

Source:

iGaming Ontario market performance report now available by month, igamingontario.ca, January 22, 2025.

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