Gamblers in Ontario wagered approximately $22.7 billion, and the online gambling market produced $825.8 million in total gaming revenue — from iCasino, online sports betting, and online poker — from Oct. 1, 2024-Dec. 31, 2024, according to iGaming Ontario’s 2024-25 Q3 market report released on Wednesday.
Those total wager numbers represent a 22% increase over the last quarter and a 32% increase over Q3 last year, while the total gaming revenue data shows a 10% increase over the last quarter and a 25% increase over Q3 last year.
There were 50 operators offering 83 online gaming websites in Q3. Roughly 997,000 player accounts were active during the quarter, and monthly spend per active player account was roughly $277 (note: iGO is now using an updated calculation method for this metric).
Online casino games continue to generate the lion’s share of revenue in the province, with slots, live and computer-based table games, and peer-to-peer bingo accounting for nearly $18.9 billion (83%) of total wagers and $644 million (78%) of gaming revenue. While sports betting, esports, proposition and novelty betting, and exchange betting accounted for $3.4 billion (15%) of total wagers and $166 million (20%) of gaming revenue during the opening quarter. Peer-to-peer (P2P) poker accounted for $418 million (1.8%) of total wagers and $16 million (1.9%) of gaming revenue.
Figures provided by iGO don’t include revenue generated by the Ontario Lottery Corporation (OLG) and its online gambling products. OLG was the only legal provider of Internet gaming before the launch of Ontario’s regulated iGaming market on April 4, 2022, and, according to a recent Auditor General report, it still expects to maintain approximately 25% to 30% of the online gaming market share despite increased competition from private operators.
iGaming Ontario also announced Wednesday that it will be releasing monthly market performance reports moving forward rather than issuing them quarterly. Unfortunately, iGO still isn’t releasing any data relating to operator market share, so it’s unclear which operators are the most popular with online bettors, although BetMGM claims to have a 22% market share. DraftKings, FanDuel, bet365, and Sports Interaction, among others, also have significant market share in the province, according to various industry research reports.
Quarterly comparisons
Industry regulators have imposed a roughly 20% annual tax rate on private igaming operators, who also have to pay a $100,000 annual licensing fee to the Ontario government to run a commercial gaming site.
Since its inception on April 4, 2022, Ontario’s igaming market has generated roughly $158.54 billion in total wagers and $6.134 billion in total gaming revenue while showing healthy growth each quarter.
| Quarter | Total Wagers | Total Gaming Revenue | Operators | Active Player Accounts |
|---|---|---|---|---|
| Q1 2022/23 | $4.07B | $162M | 18 | 492K |
| Q2 2022/23 | $6.04B | $267M | 24 | 628K |
| Q3 2022/23 | $11.53B | $457M | 36 | 910K |
| Q4 2022/23 | $13.9B | $526M | 44 | 1.1M |
| Q1 2023/24 | $14B | $545M | 46 | 920K |
| Q2 2023/24 | $14.2B | $540M | 47 | 943K |
| Q3 2023/24 | $17.2B | $658M | 49 | 1.2M |
| Q4 2023/24 | $17.8B | $690M | 47 | 1.3M |
| Q1 2024-25 | $18.4B | $726M | 50 | 1.29M |
| Q2 2024-25 | $18.7B | $738M | 51 | 1.32M |
| Q3 2024-25 | $22.7B | $825.8M | 50 | 993K |
| Total since launch: | $158.54B | $6.134B |
The success of Ontario’s regulated online gambling market has piqued the interest of the Alberta government, which is planning to roll out a similar market at some point this year. The government is in the process of constructing its iGaming strategy and should be announcing formal plans over the coming months. Currently, Ontario is the only province to embrace an open model in regards to online gambling with private operators joining provincial lottery corporations in the marketplace.
The threat of potential trade tariffs from the new administration led by Donald Trump in the United States could accelerate a potential launch of the new market in Alberta, according to industry sources. However, Trump has not formally imposed tariffs on Canada since taking office on Monday despite promising to do so on his first day back as U.S. President. Provincial governments will be scrambling for additional revenue sources if tariffs are enforced, and economists are cautioning that the impact could be devastating to the Canadian economy.
