IGaming Ontario Reports $18.4 Billion Betting Handle in Q1 of FY 2024-25

IGaming Ontario has released the market performance report for Q1 of FY 2024-25, with total wagers worth $18.4 billion (excluding bonuses), denoting a 31% increase compared to Q1 of the previous year. Covering the period from April 1 to June 30, 2024, the report discloses the activity of all 50 regulated operators, currently authorized to provide their services in Canada’s most populous province.

According to data sourced from the directory of iGaming Ontario, there are 50 authorized businesses in the province operating 81 gaming websites in different categories, including casino, poker, sports betting, bingo, and betting exchanges.

Compared to the betting handle for Q4 of FY 2023-24, the latest results indicate a 3.4% increase. The gaming revenue of operators stood at $726 million, denoting a 5.2% increase over Q4.

During Q1 of the current fiscal year, there were 1.9 million active player accounts, which, however, do not represent the number of unique players, as they may have multiple accounts with different operators. The gaming costs per active player account stood at $284 on average.

Concerning the different gaming categories’ contributions to the total wagering volume and gaming revenue, casino games ranked first. Slots, live and RNG-based table games, and peer-to-peer bingo contributed $15.5 billion (84%) to the total wagering volume and $529 million (73%) to the gaming revenue.

With $2.5 billion (14%) of total wagers and $181 million (25%) of gaming revenue, sports betting (including prop bets and novelty bets) and eSports came in second.

Peer-to-peer poker’s share amounted to $402 million (2.2%) of the wagering volume and $16 million (2.2%) of gaming revenue.

IGaming Ontario Executive Director Comments on the Market Performance Report

Martha Otton, Executive Director of the organization in charge of developing and executing operating agreements with online gaming operators in the province, commented on the report’s figures: “With 50 regulated operators and a one-third increase in wagering and revenue figures over the first quarter of the year, Ontarians who choose to gamble are finding many enjoyable options in our open regulated market.” Her statement further revealed that the tax revenue generated from iGaming had been set aside for sectors such as education, healthcare, and infrastructure.

Meanwhile, Deloitte’s Economic Contributions of Ontario’s Regulated iGaming Market – Year 2 report was also released. According to it, the regulated industry has created nearly 15,000 jobs throughout its second year.

Martha Otton highlighted the significant role of Ontario’s regulated iGaming market in assisting the government’s objectives in terms of development and job creation while simultaneously ensuring a safe gaming environment for consumers.

Attorney General Doug Downey added that besides the many job places created by the sector, it demonstrated to the world its “ongoing commitment to building a sustainable and responsible iGaming industry.”