Ontario’s Online Gambling Sector Sets New Records in Q3
Ontario, January 24, 2025 – Ontario’s online gambling industry has surged to new heights, with players spending a record CA$22.7 billion in the third quarter (Q3) of the 2024-2025 fiscal year. This marks a 32% increase compared to Q3 of the previous year and a 22% jump from the preceding quarter, highlighting the sector’s continued growth since its legalization in April 2022.
iGaming Ontario, the provincial body overseeing online gambling, has adopted a monthly reporting system, replacing its previous quarterly updates. This shift aims to provide a more granular view of player activity and market trends, helping stakeholders track the industry’s performance with greater precision.
Online casino gaming remains the dominant force in Ontario’s iGaming sector, accounting for the lion’s share of player spending. In Q3, CA$18.9 billion was wagered on online casino games, reflecting a 38% year-over-year increase and setting a new provincial record. The popularity of slots, table games, and other digital casino offerings continues to attract a growing number of players.
Mixed Trends in Sports Betting and Poker
Sports betting, which includes traditional sports and esports, also posted gains, with players wagering CA$3.4 billion in Q3—a 10% increase compared to the same period last year. However, peer-to-peer poker struggled to maintain traction, with spending dipping 3% year-over-year to CA$418 million.
Total revenue for Q3 climbed to CA$826 million, a 26% increase from the same quarter last year and a significant rise from CA$738 million in Q2. Online casino games generated the bulk of this revenue, contributing CA$644 million—an impressive 37% increase from 2023. However, sports betting revenue fell 3% to CA$166 million, and poker revenue slipped 6% to CA$16 million.
A Competitive Operator Landscape
Ontario’s iGaming market currently boasts 50 operators running 83 gaming websites. This competitive environment offers players a variety of platforms and games, further fueling the sector’s expansion.
December 2024 emerged as the strongest month in Q3, with player spending hitting a record CA$7.8 billion. This represents a 28% increase from December 2023 and a 4% rise from November 2024. Online casino wagers alone reached CA$6.5 billion, marking a 33% year-over-year surge and a new monthly record.
Sports betting also gained traction in December, with CA$1.1 billion in wagers—up 9% from the previous year. However, poker saw a decline, with spending falling 8% to CA$141 million.
Revenue for December totaled CA$269 million, a 19% increase year-over-year. Online casino games drove most of this, generating CA$224 million, a 36% rise from December 2023. However, sports betting revenue dropped by 28% to CA$39 million, and poker revenue fell 7% to CA$5.6 million.
What’s Next for Ontario’s iGaming Market?
The strong performance of Ontario’s iGaming market signals its growing economic significance. The new monthly reporting system introduced by iGaming Ontario is expected to enhance transparency and provide stakeholders with actionable insights into player behavior and industry dynamics.
While online casino gaming continues to thrive, the dip in sports betting and poker revenues suggests areas for potential growth. Operators may focus on tailoring their offerings to attract new players and re-engage existing ones, particularly in these underperforming segments.
Ontario’s regulatory framework and commitment to responsible gaming will remain critical as the industry grows. With consistent player engagement and a diverse range of gaming options, the province’s iGaming sector is well-positioned for sustained success in the years ahead.