Ontario’s iGaming Market: 2023-24 in Numbers

Ontario’s iGaming industry has witnessed spectacular growth since its launch in April 2022. With a regulatory framework that is lauded and well-recognized by the international gaming community, the iGaming market in Ontario is open to an unlimited number of private operators willing to compete. Here, we analyze all trading activity recorded at Ontario gambling sites for the fiscal year between April 1, 2023 and March 31, 2024.

Analytics: Total Wagers and Revenue

Ontario’s iGaming market is considered complex due to its extensive European-like approach to regulations. With a core focus on customer protection and one of the lowest annual tax rates of just 20%, the recorded numbers below place the province as one of the largest online gambling markets in the North American region.

Table 1: Numbers by Quarter (April 1, 2023 to March 31, 2024)

Table 1(a): Total Wagers by Category (April 1, 2023 to March 31, 2024)

Table 1(b): Total Revenue by Category (April 1, 2023 to March 31, 2024)

From the above figures, researchers at CasinoRIX have deduced that:

1. The total wagers recorded for the 2023-24 year was C$63.2 billion, a notable increase of 78% from the previous year.
   • Of these total wagers for the year, stakes on casino games (slots, live and computer-based table games, and peer-to-peer bingo) were C$51.7 billion.
   • Total betting wagers on sports, esports, proposition and novelty bets, and exchange betting was C$9.7 billion.
   • Total wagers on P2P poker was C$1.6 billion.
2. The total revenue recorded for the 2023-24 year stands at C$2.4 billion, an increase of 72% from the previous year.
   • Of the total revenue for the year, casino gaming revenue was C$1.8 billion.
   • Betting gaming revenue was C$588 million.
   • P2P poker gaming revenue was C$67 million.

Average Monthly Spending From Active Player Accounts

Active player accounts do not represent unique players, as individuals may own accounts with several online gaming platforms. The numbers we present here represent only those accounts that showed wagering activity (cash and/or promotional) during the 2023-24 fiscal year.

Table 2: Quarterly Spending per Player Account (April 1, 2023 to March 31, 2024)

Information provided by iGaming Ontario shows that at least 1.3 million player accounts were active in Q4 alone. Please note that the numbers presented in this report comprise all games offered at registered and licensed online gaming platforms under iGaming Ontario. They are unaudited and remain subject to adjustment.