Ontario’s iGaming Market Hits $14 Billion in Q1 Wagers
iGaming Ontario (iGO) has released its Q1 market performance report for the fiscal year 2024-25, revealing significant growth in the province’s regulated online gambling market.
From April 1 to June 30, 2024, Ontario saw a total of $14 billion in wagers across online casinos and sports betting, reflecting an increase from $13.9 billion in the previous quarter.
What Was The Breakdown of Wagers and Revenue?
The majority of wagers came from casino games, accounting for $11.6 billion (83%) of total wagers and $392 million (72%) of the gaming revenue.
Betting on sports and esports, as well as proposition and novelty bets, accounted for $2 billion (14%) of total wagers and $138 million (25%) of gaming revenue.
Peer-to-peer poker contributed $350 million in wagers and $15 million in revenue.
The numbers in this report are provisional and may be revised.
How Many Active Player Accounts Were Reported?
The Ontario iGaming market, which continues to attract a substantial player base, reported 920,000 active player accounts in Q1, each with an average monthly spend of $197. This is a slight decrease from the 1.01 million active accounts in Q4, though the average spend per account increased from $174.
What Did iGO’s Executive Director Say About The Performance?
iGO’s executive director, Martha Otton, praised the market’s performance, noting the success in meeting the government’s objectives of providing entertainment choice, enhancing player protection, and capturing revenue previously lost to unregulated markets.
The report underscores Ontario’s status as a burgeoning hub for online gambling, with 46 licensed operators managing 71 gaming websites as of the end of Q1. This growth is a testament to the province’s robust regulatory framework and its appeal to both operators and players.
For more detailed information on the report, visit iGaming Ontario’s official website.
How Does Q1 Performance Reflect Market Growth and Stability?
Ontario’s Q1 market performance report for the fiscal year 2024-25 highlights growth in the province’s regulated online gambling sector.
Ontario’s regulated online gambling market has solidified its position as a leading hub in North America, supported by a sound regulatory foundation and a dynamic operator landscape.
While new player sign-ups have slightly decreased, the higher engagement levels suggest a mature and evolving market.
The Q1 performance not only reaffirms Ontario’s prominence in the industry but also sets a high standard for regulatory excellence and market sustainability.
Read The Latest iGaming Ontario Market Performance Reports
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