Gamblers in Ontario wagered approximately $18.7 billion, and the online gambling market produced $738 million in total gaming revenue — from iCasino, online sports betting, and online poker — from July 1, 2024-Sept. 30, 2024, according to iGaming Ontario’s 2024-25 Q2 market report released on Thursday.
Those total wagers numbers represent a 1.6% increase over the last quarter and a 31.7% increase over Q2 last year, while the total gaming revenue data shows a 1.7% increase over the last quarter and a 35.4% increase over Q2 last year.
There were 51 operators offering 83 online gaming websites in Q2. Roughly 1.32 million player accounts were active during the quarter and monthly spend per active player account was $308 (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 $16 billion (86%) of total wagers and $553 million (75%) of gaming revenue. While sports betting, esports, proposition and novelty betting, and exchange betting accounted for $2.2 billion (12%) of total wagers and $167 million (23%) of gaming revenue during the opening quarter. Peer-to-peer (P2P) poker accounted for $417 million (2.2%) of total wagers and $18 million (2.4%) 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.
History of Ontario’s regulated market
Ontario provincial 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 $135.84 billion in total wagers and $5.309 billion in total gaming revenue while showing 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 |
| Total since launch: | $135.84B | $5.309B |
Overall, the modest growth in Ontario’s online gambling market this quarter is impressive given that the summer period is generally the slowest on the sports betting calendar. Looking ahead, Q3 numbers should be stronger with a packed sports calendar and more people retreating inside with the colder temperatures and potentially firing up iCasino apps to help pass the fall and winter months.
