Ontario's iGaming Flourishes in Q1 2024 with Major Gains

iGaming Ontario has released a comprehensive report detailing the performance of the province’s online gaming market for the first quarter of the 2024-25 fiscal year. From April 1 to June 30, 2024, the sector saw significant activity, with 50 regulated operators facilitating gaming across various platforms.

Martha Otton, Executive Director of iGaming Ontario, highlighted the sector’s success, stating, “With 50 regulated operators and a one-third increase in wagering and revenue figures over the first quarter of last year, Ontarians who choose to gamble are finding many enjoyable options in our open regulated iGaming market. The revenue generated by Ontario’s competitive iGaming market contributes directly to provincial priorities such as infrastructure, healthcare, and education.”

Market Dynamics and Player Engagement

The total wagers reached an impressive $18.4 billion, marking a 3.4% increase from the previous quarter and a substantial 31% year-over-year growth. The gaming revenue also saw a notable rise, amounting to $726 million—a 5.2% increase from the last quarter of the previous year and a 34% increase from the same quarter last year. These figures reflect total cash wagers, including various fees, minus the payouts to players, without ing for operational costs.

The first quarter saw active engagement from nearly 1.9 million player s, a significant number considering these s may represent multiple registrations across different operators. The average monthly expenditure per active was recorded at $284.

Breakdown of Gaming Categories

Casino games remained the dominant category, with players wagering nearly $15.5 billion—ing for 84% of total wagers and generating $529 million in revenue, which represents 73% of the total gaming income. This category includes live and computer-based table games, and peer-to-peer bingo.

Sports betting also showed robust performance, with $2.5 billion wagered, making up 14% of the total bets placed. This sector brought in $181 million in revenue. Notably, the performance was buoyed by significant sporting events, including the Stanley Cup Final featuring the Edmonton Oilers.

Peer-to-peer poker saw $402 million wagered, making up 2.2% of the total bets and generating $16 million in revenue. This marked a slight decline from previous quarters, influenced possibly by the annual World Series of Poker, which draws many players to Las Vegas.

Ongoing Commitments and Future Outlook

iGaming Ontario remains committed to releasing quarterly market reports, providing insights into the province’s evolving landscape of online gaming. This practice ensures transparency and helps gauge the effectiveness of the regulatory framework and its impact on provincial benefits.

As Ontario’s iGaming market continues to exceed expectations, the future looks promising, with predictions of further growth and increased contributions to the provincial economy.

Source:

iGaming Ontario’s FY 2024-25 Q1 Market Performance Report, iGaming Ontario, July 24, 2024.