Ontario H1 Gambling Revenues Jump To New Heights
Ontario H1 Gambling Revenues Jump To New Heights
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Gamblers in Ontario wagered $18.4 billion in the first half of the 2024-2025 fiscal year, representing a 31% year-over-year rise, reported by the iGaming Ontario agency.
Building upon the success of the previous fiscal year, with $63 billion was wagered, the opening H1 of 2024-2025 with a combined handle for land-based and online casinos, sports betting, and poker climbed by 3.4% compared to the preceding year.
Ontario’s H1 revenue from April 1 through June 30 jumped to $726 million, representing a 34% year-over-year surge and a 5.2% uptick from the previous quarter.
Ontario’s active player accounts, which nearly reached 1.9 million during the first quarter. Moreover, the average monthly spend per account is $284.
Accounting for 84% of the overall handle and generating $529 million in revenue, the triumvirate of slots, live and online table games, and peer-to-peer bingo reigned supreme. This figure represents a notable uptick from the $510 million generated in the previous quarter and a substantial $120 million increase compared to the first quarter of the 2023-2024 fiscal year.
While peer-to-peer poker contributed a modest 2.2% to both the handle and profits, its performance was marked by contrasting trends. Wagering dipped by nearly 10% quarter-over-quarter, with revenue following suit with a 15.8% decline. However, on a year-over-year basis, revenue inched up by a modest $1 million, hinting at the potential for a resurgence in the future.
Despite the Edmonton Oilers’ valiant run to Game 7 of the NHL’s Stanley Cup Final, the sports, esports, prop, and novelty betting segment experienced a slight dip in wagers compared to the previous quarter. Nevertheless, the segment accounted for an impressive 14% of the total wagers and a staggering 25% of the province’s operator revenue.
While wagers fell from $2.7 billion in the final quarter of the previous fiscal year to $2.5 billion in Q1, revenue surged by an impressive 12.4% quarter-over-quarter and a remarkable 52.1% year-over-year, reaching $181 million.
