Ontario Online Gambling Market Reports Record Q3 Spend

The third quarter of the 2024-25 fiscal year marked an impressive milestone for Ontario's online gambling market. The province witnessed a substantial CA$22.7 billion in total gambling spend, showcasing a 32% growth compared to the same period last year. These figures were unveiled by iGaming Ontario, emphasizing the strong performance in the online casino sector as the key driver of this growth. This remarkable upswing has not only reaffirmed Ontario’s position in the regulated gambling landscape but also prompted a strategic shift from quarterly to monthly reporting starting in 2025, enhancing the timeliness and relevance of market insights.

Casino Sector Dominates the Market

Online casinos have continued to dominate Ontario's gambling market, generating CA$18.9 billion in wagers in Q3, representing a notable 38% increase year-on-year. Popular casino games such as slots, live dealer games, and peer-to-peer bingo comprised 83% of the total market expenditure. The revenue stemming from this segment reached CA$644 million, underlining a 37% year-over-year surge, further verifying its status as the main revenue generator. Meanwhile, sports betting, despite showing an increase in overall wagering to CA$3.4 billion—a 10% rise from last year—saw revenues decline slightly by 3% to CA$166 million. This decrease indicates evolving player behaviors and market dynamics that could be influencing profitability. Peer-to-peer poker showed a downward trend with a 3% decline in wagering to CA$418 million and a 6% drop in revenue to CA$16 million, reflecting changing interests within this segment.

Monthly Reports Offer Deeper Insights

In a move to enhance transparency and offer more granular insights, iGaming Ontario now provides monthly market reports. December 2024 emerged as a highlight, setting a new monthly record with CA$7.8 billion in total wagers, marking a 28% increase from December 2023. This impressive monthly peak was driven largely by online casino spending, which reached CA$6.5 billion in December alone, a robust 33% rise year-over-year. However, sports betting, while seeing a 9% increase to CA$1.1 billion, experienced a significant 28% drop in revenue, decreasing to CA$39 million. Peer-to-peer poker mirrored these trends with an 8% decline in spending and a 7% reduction in revenue. Despite these fluctuations, the overall market revenue for December was CA$269 million, a 19% increase from December 2023, albeit with a slight dip of 10% compared to November's figures. The Ontario online gambling market continues to expand with the presence of 50 licensed operators managing 83 active sites during the third quarter. This growth is supported by an iGaming framework established in April 2022 that promotes a secure and regulated gambling environment for players. With newly adopted monthly reports, iGaming Ontario anticipates providing stakeholders with significantly improved visibility into market performance and evolving gaming trends, aiding in faster and more informed decision-making by both operators and regulators. Source: iGaming Ontario market performance report now available by month, igamingontario.ca, January 22, 2025. By GamesAndCasino