Ontario has set a new milestone in online gambling with players spending a record CA$22.7 billion in Q3 of 2024. This marks the highest quarterly spend on record for Ontario’s iGaming market, overseen by iGaming Ontario, the province’s regulatory body.
The latest report reveals that the total market spend in Q3 was 32% higher than the same quarter in 2023-24 and 22% higher than Q2 of the current fiscal year. Ontario’s Q3 ran for three months, ending December 31, 2024.
Gross Gaming Revenue (GGR) for the quarter reached CA$826 million, reflecting a 26% increase year over year and a 12% rise month over month. This makes it the best quarter on record for Ontario’s regulated iGaming market, which is nearing its third anniversary.
Since the launch of Ontario’s iGaming market in April 2022, online casinos have experienced significant growth, outpacing other forms of digital gaming like sports betting. Of the CA$22.7 billion in total quarterly spend, CA$18.9 billion (83%) was spent on online casino games, marking a 38% increase compared to the previous year.
Revenue from online casinos climbed by 37% to CA$644 million, accounting for roughly 78% of total GGR. While iGaming’s share of the handle slightly dropped to 86% from last quarter’s 86%, its GGR share rose from 75%.
iGaming Ontario Enhances Transparency with Monthly Updates
iGaming Ontario has updated how it shares data, now publishing monthly reports since the legalization of online casino gaming in April 2022. The move is intended to improve transparency and provide more accessible data to residents and stakeholders. The agency aims to share aggregate revenue and market insights more frequently and in formats that are easier to analyze.
However, iGaming Ontario has no plans to disclose data by individual operator, as the province’s iGaming market remains highly competitive with 50 operators across 83 websites, as of December 31.
The latest addition to Ontario’s online casino market is Aristocrat Interactive’s white-labeled brand, Betiton, which launched in December. Over 20 more operator applications are expected throughout the year.