Ontario Online Gambling Reaches Record Figure of CA$22.7B in Q3 2024

Ontario’s online gambling market reached an all-time high in Q3, with players wagering a total of CA$22.7 billion. This represents the highest quarterly amount on record for the province.

The report also marks a shift to a new monthly reporting schedule moving forward. Data is now available for each month since Ontario officially went live with online gambling in April of 2022.

Q3 Gambling Market Performance

The total amount wagered in Q3 in Ontario was 32% higher compared to the same period in 2023-24 and 22% more than the second quarter of the current financial year. The report covers the three months leading up to December 31, 2024.

Online casino gaming continued to dominate the market, with spending reaching CA$18.9 billion in Q3, marking a 38% year-over-year increase. Sports betting, including esports, contributed CA$3.4 billion, a 10% increase compared to last year. Meanwhile, peer-to-peer poker saw a decline, with wagers totaling CA$418 million, down 3% from the previous year.

Revenue and Market Trends

Total revenue for the quarter stood at CA$826 million, which is a 26% rise year-over-year and a 12% increase from Q2’s CA$738 million. Online casino revenue led the way, generating CA$644 million, up 37% compared to the previous year. Sports betting revenue experienced a slight 3% decline, bringing in CA$166 million, while revenue from poker fell by 6% to CA$16 million.

The province hosted 50 active operators running 83 gaming websites during the quarter. Additionally, there were approximately 997,000 active player s, with an average monthly spend of CA$277 per player.

December Sets New Monthly Records

December saw a record online gambling spend of CA$7.8 billion, suring the previous year by 28% and topping November’s record by 4%.

Online casino spending alone ed for CA$6.5 billion, representing a 33% year-on-year increase. Sports betting saw a modest 9% increase to CA$1.1 billion, while poker spending dropped by 8% to CA$141 million.

Revenue for December amounted to CA$269 million, which is 19% higher than the previous year but 10% lower than November’s record of CA$291 million. Online casino revenue hit CA$224 million, marking a 36% year-on-year rise, while sports betting revenue fell by 28% to CA$39 million. Poker revenue also declined by 7% to CA$5.6 million.

Market Competition and Expansion Concerns

Ontario’s market has become one of the largest in North America, with 50 operators offering services across 83 gaming sites. However, concerns about market saturation have been raised, as more operators continue to seek entry. Currently, 24 operator applications are pending with the Alcohol and Gaming Commission of Ontario (AGCO).

December saw Bally’s Interactive launch the new Golden Matrix’s Expanse Studios applied for B2B license in Ontario.

Despite the sector’s growth, experts warn that increasing competition could challenge new market entrants.

Source:

“Ontario online gambling spend reaches record high in Q3”, igamingbusiness.com, January 23, 2025