Ontario Online Gambling Expenditures Records in Second Half of 2024

Ontario players have spent a record-breaking CA$22.7 billion (£12.8 billion/€15.2 billion/US$12.8 billion) on online gambling during the third quarter of 2024, marking the highest quarterly amount ever recorded for the province. The data, which was recently released by iGaming Ontario, the provincial regulator, also highlighted a shift in the reporting schedule for online gambling statistics. From now on, iGaming Ontario will release figures on a monthly basis, offering a more frequent look at the rapidly growing market.

The Q3 report, which covers the three months leading to December 31, 2024, shows a substantial 32% year-over-year increase in spending compared to Q3 of 2023. The numbers also reflect a 22% rise over the second quarter of the same fiscal year. Ontario’s online gambling market continues to expand, as more players engage with legal iGaming options since the sector’s launch in April 2022.

Online Casinos Dominate Spending

The largest share of the total market spend was directed toward online casinos, which saw CA$18.9 billion wagered during the quarter. This represents a remarkable 38% increase from the previous year and marks another record for Ontario. Online casinos remain the dominant area of interest for players in the province, accounting for the majority of gambling activity.

Sports betting, including wagers on esports, also saw significant growth in Q3. Players spent CA$3.4 billion on sports betting, a 10% year-over-year increase. Meanwhile, peer-to-peer poker wagers totaled CA$418 million, although this represented a slight 3% decline from the previous year.

The revenue generated by Ontario’s online gambling market also reached new heights in Q3. Total market revenue stood at CA$826 million, up 26% compared to the same quarter in 2023 and 12% higher than Q2 of the current fiscal year. Of this total, online casino revenue accounted for CA$644 million, a 37% increase year-over-year. Sports betting revenue, however, dipped slightly by 3% to CA$166 million, while poker revenue also decreased by 6% to CA$16 million.

A total of 50 operators, running 83 gaming websites, were active during Q3, reflecting the ongoing expansion of the online gambling landscape in the province.

December Marks Another Milestone

December, the final month of Q3, saw a surge in spending and revenue, setting new records for the Ontario online gambling market. In December alone, players spent CA$7.8 billion, surpassing the previous year by 28% and beating November’s record by 4%. This increase was primarily driven by online casinos, which saw CA$6.5 billion in wagers, a 33% rise compared to December 2023.

While sports betting experienced a 9% uptick to CA$1.1 billion, poker saw an 8% decline to CA$141 million. In terms of revenue, December’s total stood at CA$269 million, a 19% increase from the previous year, though it fell short of November’s record revenue of CA$291 million.

Online casino revenue in December reached CA$224 million, a 36% year-over-year increase and a new monthly record. On the other hand, sports betting revenue dropped 28% to CA$39 million, while poker revenue slipped by 7% to CA$5.6 million.

Ontario's online gambling market continues to break records, reflecting a growing demand for digital entertainment and solidifying the province as a leader in Canada’s iGaming sector.

Conclusions

The introduction of monthly reporting marks a significant shift for iGaming Ontario and its approach to monitoring the growing online gambling market. The move reflects the province’s commitment to transparency and provides stakeholders with a more up-to-date view of the sector’s performance. Ontario now joins the ranks of jurisdictions offering monthly updates, in line with increasing demand for timely and detailed data on gambling trends.

As the online gambling market continues to expand across Canada, Ontario's performance in Q3 and December sets a precedent for other provinces to follow, reinforcing the province’s position as a leader in the growing North American iGaming sector.