Ontario’s online gambling sector hit new records in the third quarter of the 2024-25 fiscal year, as gamblers bet online a record of $22.7 billion. This is a 32% growth from the same period last year and 22% more than Q2. The growth confirms Ontario’s position as a Canadian leader in the online betting business, indicating a growing interest in internet casino gaming among the province’s residents.
One of the key forces propelling Ontario’s gambling figures’ upward trend is the online casino industry. As might be expected, online casinos Canada are still going strong thanks to their ease of access, great variety of games, and engaging settings. The combination of sophisticated technology and user-friendly interfaces also contributed to online casinos being a popular top choice for many casino-goers, and they continue to dominate the market.
Sports betting continues to gain, poker experiences downturn
Sports betting continued to exhibit strong growth, with bets totaling $3.4 billion in Q3, a 10% rise over Q3 the previous year. Sports and esports betting have become increasingly popular with Ontarians, with increased activity stimulated by high-profile events and ease of access through digital channels. Continuing growth in this channel underlines the demand for sports gambling as a part of overall online gaming activity.
While most segments of Ontario’s online gambling market experienced growth, peer-to-peer poker saw a decline. Wagers in this category totaled $418 million in Q3, representing a 3% drop year-over-year. The decrease suggests a shift in player preferences, with more users gravitating towards online casino games and sports betting rather than traditional poker platforms.
Revenue hits $826 million in Q3
Ontario’s online gambling market earned a record Q3 haul of CA$826 million, a 26% increase over last year and a 12% improvement over Q2. Online casinos took the lead, earning a record CA$644 million, a 37% increase over last year.
Sportsbook earnings saw a small 3% dip, rounding out at $166 million, and poker earnings fell 6% to $16 million. Overall growth mirrors the province’s increasingly digital gambling marketplace.
The competitive marketplace for Ontario’s iGaming continues to attract operators in Q3, with 50 approved operators hosting 83 gaming sites, offering a rich selection for players. That level of competition encourages innovation and a rich overall player environment, a thriving and dynamic marketplace. Having a variety of operators present also encourages Ontario’s aims for responsible gaming and transparency in gaming operations.
December 2024 breaks monthly records
The final Q3 month, December 2024, featured more growth for Ontario’s internet gambling industry. Overall expenditure during the month hit an all-time high of$7.8 billion, a 4% increase from November and a 28% increase from a year ago.
Online casino gaming remains popular, representing a total wager of $6.5 billion, a 33% annual improvement. Sportsbook wagers rose 9% to a level of $1.1 billion, and poker expenses reduced 8% to a level of $141 million.
December revenue performance was strong at a level of $269 million, up 19% from December 2023, but down from a record in November of $291 million.
Online casinos kept up the pace, bringing in $224 million, up 36% from a similar period a year ago. Sports betting operations, meanwhile, had their revenue drop by 28% to $39 million, and poker revenue dropped by 7% to $5.6 million.
Regulatory framework and market adaptation
Ontario's regulatory framework has played a role in shaping the province’s iGaming market since the legalization of online gambling in April 2022. iGaming Ontario’s introduction of monthly and quarterly reporting has increased oversight by providing regular assessments of market performance and betting trends.
The growth of online casinos in Canada reflects a broader shift toward digital gambling, influenced by technological advancements and changing consumer preferences. As Ontario’s online gambling market expands, operators continue to monitor industry trends and adapt their strategies accordingly.
DISCLAIMER: The information presented on this page/site is intended for entertainment purposes only. All statistics and numbers presented come from the iGamingBusiness publications. Please be aware that gambling entails inherent risks, and it's crucial to acknowledge this when utilizing online gambling platforms.
This sponsored content has been paid for by our sponsor and does not reflect the reviews and recommendations made by Pique Newsmagazine staff.
