iGaming Ontario Reports 32% Annual Revenue Growth as Transition to Monthly Reporting Begins

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iGaming Ontario (iGO) started the year with an unexpected shift: it released its first-ever interactive monthly revenue report, replacing the less detailed quarterly reporting structure. The embrace of monthly reporting brings iGO in line with most US states, making jurisdictional comparisons easier. With 32% year-over-year revenue growth, Ontario is still setting a very similar clip to those US markets.

In addition to committing to monthly reporting going forward, iGO also provided monthly—downloadable—data going back to 2022, when Ontario launched its open market.

iGO’s robust new reporting—broken into online casino, sports betting, and poker categories—allows users to toggle results to better understand the Ontario online market’s growth.

However, while its latest move addresses the industry’s call for more regular reporting, iGO has not introduced operator-level data. So, while we have more details about Ontario’s online market overall, how individual brands are faring remains uncertain. In its most recent quarter (Q3 2024), Ontario had 50 operators and 83 licensed gaming sites.

Online revenues rise 32% year-over-year

Before discussing Ontario’s latest online gaming numbers, it’s important to note that the figures only represent iGO-authorized operators. Ontario’s provincial lottery, the Ontario Lottery and Gaming Corporation (OLG)—which controls about 20% of the province’s total market—reports separately on a strictly annual basis.

That aside, Ontario’s online casino, sports betting, and poker market had a good year, with a 32% increase in 2024 gross revenue compared to 2023. As a point of comparison, the US total market posted 29% growth for 2024, according to PlayUSA.

Ontario’s total non-adjusted gross online gambling revenue increased to just over 3 billion Canadian dollars in 2024 compared to $2.3 billion in 2023.

Regarding reporting categories, Ontario’s online casino revenue leads provincial returns, increasing by 37.5% between 2023 ($1.6 billion) and 2024 ($2.3 billion).

Online sports betting revenue also grew, though at a lesser rate (20.3%), from $570 million in 2023 to $686 million in 2024.

The trend continued for online poker, but again, with a less stark change. Poker revenues grew from $63 million in 2023 to $68 million in 2024, equal to 7.5% growth.

Online casino revenues dominate the Ontario market

Since Ontario opened its market in April 2022, operators have earned nearly $6.2 billion in total revenue, with almost $4.5 billion attributed to online casino wagers. In comparison, online sports betting and poker’s revenue contributions are tempered at just over $1.5 billion and $155 million, respectively.

Market share-wise, online casino revenues account for roughly 73% of the Ontario market. The remainder is split unevenly between online sports betting (24%) and poker (2.5%).

On average, the percentage of Ontario operators’ revenue from online casinos has grown from 72% in 2023 to 75% in 2024. Thanks to a bad December for US and Canadian sportsbooks, Ontario online casinos earned their highest market share since the market’s launch (83%).

Zeroing in on December’s results, overall revenues of $269.3 million were down 7% month-over-month, thanks to a massive 50% decline in sportsbooks revenues. Off-setting that result, online casinos enjoyed a modest 8% MOM equivalent to $224.4 million, while poker revenues jumped 10% to $5.6 million.

Online gambling adds over a billion to Ontario’s tax coffers

With a 20% tax rate on gaming revenues, Ontario has earned slightly over $1.2 billion in taxes since the market opened.

Broken out by year, that amounts to approximately:

  • $178 million (2022)
  • $454 million (2023)
  • $601 million (2024)

About the Author

Robyn Mcneil

Robyn Mcneil

Robyn McNeil (she/they) is a Nova Scotia-based writer and editor, and the lead writer at Bonus. Here she focuses on news relevant to online casinos, specializing in responsible gambling coverage, legislative developments, gambling regulations, and industry-related legal fights.
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