Ontario iGaming Sector Flourishes with $738M Q2 Revenue, Upholds Matured Market Status

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Ontario’s financial numbers for the second quarter of fiscal year 2024-25 indicate a matured gaming market, according to Canadian Gaming Association President and CEO Paul Burns.

The recent iGaming Ontario market performance report, released Thursday, revealed a total wager amount of $18.7 billion in Q2, marking a 1.6% increase from Q1 and a significant 31.7% rise compared to the second quarter of 2023-24. The report highlighted continuous growth in wagers and revenues for the province’s iGaming sector.


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The total gaming revenue for Q2 in Ontario stood at $738 million, showing a 1.7% growth from Q1 and an impressive 35.4% year-over-year increase. Ontario’s open and competitive iGaming market, which began in April 2022, excludes revenues from the government-operated Ontario Lottery and Gaming Corporation platform.

During a panel at G2E in Las Vegas earlier this month, iGaming Ontario Executive Director Martha Otton gave a preview of these Q2 results, in line with her established tradition since the market’s inception. Burns commented that these results demonstrate the market reaching maturity, with operators finding their rhythm, a leveling-off in advertising, and the Alcohol and Gaming Commission of Ontario (AGCO) along with iGaming Ontario (iGO) welcoming new operators to replace a few that have exited. Burns emphasized that the current figures are indicative of a mature market with a promising outlook for long-term sustainability for both the province and the industry.

Covering the period from July 1 to September 30, 2024, the market performance report defined gaming revenue as the total cash wagers, including rake fees, tournament fees, and other operator fees, minus player winnings from cash wagers, excluding operating costs and other liabilities.

In Q2, there were 51 operators and 83 licensed gaming websites actively functioning in Ontario. The number of active player accounts decreased to over 1.32 million from 1.9 million in Q1, but the average monthly spend per active player account increased to $308 from $284 in Q1.

The casino segment, comprising slots, live and computer-based table games, and peer-to-peer bingo, continued to dominate the market. It accounted for 86% of total wagers, amounting to $16 billion, and 75% of gaming revenue, totaling $553 million. Sports, esports, proposition, and novelty bets contributed 12% to total wagers ($2.2 billion) and generated 23% of gaming revenue ($167 million). Peer-to-peer poker constituted 2.2% of total wagers ($417 million) and 2.4% ($18 million) of the revenue.

Meanwhile, Alberta is progressing towards launching an Ontario-style iGaming regulatory regime by 2025.