Ontario igaming revenue reaches CAN$3.20 billion in 2024-25

Ontario’s online gambling sector has witnessed a remarkable surge, with gross gaming revenue soaring by 32% year-on-year to C$3.20 billion (£1.73 billion/€2.03 billion/US$2.30 billion) for the fiscal year 2024-25. This marks the highest annual revenue since the province’s inception of legal igaming.

The latest figures, released by iGaming Ontario, encapsulate the third full year of regulated online gambling, spanning from April 1, 2024, to March 31, 2025. Ontario officially launched its legal igaming market in April 2022, paving the way for substantial growth in a previously unregulated environment.

In comparison to the previous fiscal year, the 2024-25 revenues significantly outperformed the C$2.40 billion recorded in year two of legal igaming, representing an impressive 129% increase over the C$1.40 billion generated during the inaugural year.

Delving deeper into the revenue streams, C$2.40 billion was attributed to casino gambling, reflecting a robust 36% year-on-year growth. Meanwhile, sports betting revenue experienced a 23% uptick, reaching C$724.0 million, although online poker revenues remained stable at C$66.0 million for the period.

Consumer spending in the sector also charted an upward trajectory, with total online wagers hitting C$82.70 billion, a significant 31% increase from the previous year. Notably, iGaming Ontario clarified that this figure excludes promotional wagers. Casino gaming attracted the highest volume of expenditure, totaling C$69.60 billion, up by 34%. Sports betting wagers climbed 17% to C$11.40 billion, while poker spending increased modestly by 2% to C$1.70 billion.

Record-Breaking Quarter for Ontario

The final quarter of the fiscal year set new records for Ontario, with revenues reaching an unprecedented C$903.0 million over the three-month period ending March 31. Wagering during this quarter also hit a historic high of C$22.90 billion.

Currently, players in Ontario have the option to engage in online gambling across 84 websites operated by 49 licensed providers, showcasing a diverse range of gaming offerings.

“These outstanding results underscore Ontario’s dynamic igaming landscape, supported by a robust lineup of operators and a premier collection of games for players,” stated Heidi Reinhart, chair of iGaming Ontario. “The province’s regulated market continues to thrive, fostering a safer environment for Ontarians to engage in online gaming.”

March Revenue Exceeds C$294.8 Million

In an effort to improve transparency and keep the marketplace informed, Ontario has transitioned to publishing monthly online gambling reports. Previously, iGaming Ontario only provided quarterly and yearly updates on revenue data.

The recently released dataset for March reported total igaming revenue of C$294.8 million, highlighting a 22.3% increase year-on-year and a 5.3% rise compared to February’s figures.

Casino gaming generated the lion’s share of March’s revenue at C$240.3 million, with sports betting contributing C$47.9 million and poker at C$6.6 million.

Additionally, wagers in March amounted to an impressive C$7.94 billion, reflecting a year-on-year growth of 27.2%. Of this total, C$6.60 billion was allocated to casino gaming, with sports betting at C$1.12 billion and poker accounting for C$148.0 million.

Activity levels were also high, with approximately 1.1 million player accounts engaging during March and an average revenue per active account reaching C$278. This data encompasses all operators associated with iGaming Ontario, excluding OLG’s igaming offerings and pari-mutuel wagering on horse racing.