In its market performance report for the second quarter of the 2024-25 fiscal year, iGaming Ontario revealed significant growth across its regulated online gambling platforms. Between April and June 2024, the total gambling handle reached $18.4 billion, marking a 31% increase from the same period last year.
The report published by iGaming Ontario, which encompasses data from 50 licensed operators, indicated that total gaming revenue surged to $726 million in the quarter, a 34% increase year-over-year. This growth is attributed to robust performances in both casino games and sports betting sectors.
Casino Games Drive Revenue
Casino games continued to dominate the market, contributing approximately 84% of the total wagers. Players wagered $15.5 billion on casino games including slots, live and computer table games, and peer-to-peer bingo. This segment alone generated $529 million in gaming revenue, constituting 73% of the total revenue for the quarter. The figures represent a substantial increase from the $11.6 billion wagered and $393 million earned in the second quarter of 2023.
The sports betting sector also showed impressive results with a total of $2.5 billion wagered, an increase from $2 billion in the previous year. This sector benefited notably from high-profile events such as the Stanley Cup Final featuring the Edmonton Oilers. The revenue from sports betting remained stable at $181 million.
Peer-to-peer poker on the other hand experienced varied results, with a handle of $402 million in Q2 2024, a slight increase from the previous year’s $350 million but a decrease from Q1 2024‘s $446 million. The segment generated $16 million in revenue, slightly up from $15 million in Q2 2023. The fluctuation in poker wagers was partially attributed to seasonal events like the World Series of Poker, which typically draws players to Las Vegas.
Overall Market Growth
The strong performance of iGaming in Ontario is not just a testament to the province’s robust regulatory framework but also reflects the growing popularity of online gambling among Ontarians. Martha Otton, Executive Director of iGaming Ontario, commented on the success, stating: “The revenue generated by Ontario’s competitive igaming market contributes directly to provincial priorities such as infrastructure, healthcare, and education.”
With nearly 1.9 million active player accounts during the quarter, the average monthly spend per active player was recorded at $284. This participation underlines the scale and engagement of the consumer base in Ontario’s iGaming market. Since Ontario kicked off its competitive iGaming market in 2022, the industry has managed to generate more than 4 billion dollars for the Canadian province. Looking ahead, iGaming Ontario anticipates continued growth and is preparing for further expansions in its offerings and technological advancements.
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