Ontario iGaming market doubles active player accounts, revenue rises 34.4% in Q1

Ontario's iGaming market experienced substantial growth in the first quarter of the 2024-25 fiscal year, with active player accounts doubling and revenues from sports betting and online casino activities increasing by 34.4% year-over-year.

The latest report from iGaming Ontario revealed a 31.4% rise in total amounts wagered across all categories, reaching CA$18.4 billion (approximately US$13.3 billion) for the quarter ending June 30.

The market's expansion was driven by an increase in active player accounts, which more than doubled to 1.9 million, supported by 50 operators managing 80 online platforms. This growth marked a 106.5% increase compared to the same quarter the previous year and a 46.2% rise from the preceding quarter. The average monthly spend per active account also saw a notable 44.2% year-on-year increase, reaching CA$284 ($205).

After accounting for winnings and promotional adjustments, the quarter's revenue grew by 34.4% year-on-year, amounting to $726 million ($525 million).

Martha Otton, Executive Director of iGaming Ontario, attributed the growth to the success of the province's regulated online market.

“With 50 regulated operators and a one-third increase in wagering and revenue figures over the first quarter of last year, Ontarians who choose to gamble are finding many enjoyable options in our open regulated igaming market. The revenue generated by Ontario’s competitive iGaming market contributes directly to provincial priorities such as infrastructure, healthcare and education,” Otton said. 

Online casino activities dominated the sector, comprising over 84% of total player wagers and nearly 73% of the revenue. Player wagers on slots, table games, and peer-to-peer bingo amounted to $15.5 billion ($11.2 billion), representing a 33.6% increase from the prior year.

Sports betting saw a total spend of $2.5 billion ($1.8 billion), a 25.0% increase from Q1 2023, though 7.4% below the previous quarter's $2.7 billion ($1.9). This marked the second consecutive quarter of decline in online sports betting handle. Despite this, an improved hold rate of 7.24% resulted in a 31.2% year-on-year increase in sports betting revenue, totaling $181 million ($130.8 million).

Additionally, peer-to-peer poker wagers reached $402 million ($290.6 million), up 14.9% year-on-year but down 9.9% from the last quarter of 2023-24.