Ontario has set a new record for online gambling activity, with players in the province wagering $22.7 billion in Q3 of the 2024-25 financial year. This represents the highest quarterly spending since Ontario's legal online gambling market launched in April 2022. The province's regulatory body, iGaming Ontario, also announced a shift from quarterly to monthly reporting, allowing for more frequent updates on industry performance.
A major factor driving the increased gambling activity is the online casino sector, which continues to dominate the market. Players in Ontario spent $18.9 billion on online casino games during Q3, marking a 38% rise compared to the same period in the previous year. This segment alone accounted for the majority of the province’s online gambling spend.
The ongoing surge in online casino revenue emphasizes a growing trend of gamblers turning to digital platforms as alternatives to land-based casinos, and therefore we can expect that the popularity of these sites will only continue to rise driven by convenience, variety and rewards. Online casinos like golden panda attract players with features that traditional casinos may not match, such as faster withdrawals, progressive jackpots, high betting limits, generous welcome bonuses and expansive game libraries, often stretching into the thousands.
However, while online casino revenue saw a significant increase, online sports betting also experienced growth. Sports betting, including wagers on esports, reached $3.4 billion in the quarter, up 10% year-on-year. In contrast, peer-to-peer poker saw a slight decline, with total wagers falling 3% to $418 million.
Ontario's gambling revenue for the quarter reached $826 million, a 26% increase from the previous year. Online casinos were the biggest contributor in Ontario, bringing in$644 million, a 37% rise. However, sports betting in Ontario saw a slight decline, with revenue falling by 3%, and poker also faced a 6% drop, generating $16 million.
In December 2024, online gambling spending in Ontario hit $7.8 billion, marking a 28% increase from December 2023. Online casinos led the way in Ontario, with $6.5 billion in wagers, up 33%. Sports betting grew by 9%, but poker in Ontario experienced an 8% decline, with spending reaching $141 million.
December's total revenue in Ontario stood at $269 million, 19% higher than the previous year, though 10% lower than November’s record. Online casino revenue in Ontario hit a new monthly high of $224 million, a 36% increase from December 2023. On the other hand, sports betting in Ontario fell by 28%, and poker saw a 7% drop, generating $5.6 million.
Ontario's gambling market continues to expand, mainly driven by online casinos. With 50 licensed operators running 83 gaming websites, the industry remains a significant contributor to Ontario’s economy and is expected to continue growing.
Ontario’s online gambling market has experienced consistent growth, driven largely by the popularity of online casinos. The new monthly reporting schedule offers more frequent insights into market trends, allowing regulators and industry stakeholders to track fluctuations in spending and revenue.
While the online casino sector continues to expand, sports betting revenue appears to be facing challenges despite increased wagering activity. The decline in poker’s contribution to the overall market also suggests shifting player preferences. Looking ahead, it remains to be seen how these trends will evolve and whether the market can sustain its current growth trajectory.
The increase in player engagement is a testament to the growing trust in Ontario’s regulated market, as well as improved accessibility and user experience on various gaming platforms. Operators continue to enhance their offerings, introducing new casino games and betting options to attract more players. The steady rise in online casino revenue highlights the appeal of these platforms, where players can enjoy a wide range of games from slots to live dealer experiences. Additionally, mobile gaming has played a crucial role in the expansion of the market, making it easier for players to access their favourite games from anywhere.
The decline in sports betting revenue raises questions about market influences. Unpredictable sports outcomes, shifting odds, team performance, injuries and weather can impact betting behaviour. Competition from other entertainment sources may also divert potential bettors.
Despite its decline, poker remains a distinct market segment requiring strategy and skill. Some players favour the instant gratification of slots over time-consuming poker tournaments. To boost engagement, operators may introduce exclusive tournaments, larger prize pools or enhanced promotions.
Improved reporting offers better market insights, while regulatory oversight ensures fairness and stability. Industry leaders will monitor trends and adapt to evolving player preferences and external factors.
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