The latest stats from iGaming Ontario (iGO) are in, and they’re nothing short of jaw-dropping: In the first quarter of the 2024-25 fiscal year alone, a massive $18.4 billion was wagered.

“With 50 regulated operators and a one-third increase in wagering and revenue figures over the first quarter of last year, Ontarians who choose to gamble are finding many enjoyable options in our open, regulated iGaming market,” said Martha Otton, Executive Director of iGaming Ontario.

She stated that the revenue generated and fed into Ontario’s iGaming is not insignificant but rather the same revenue is reinjected back into the Ontario healthcare, education system, and their infrastructure.

iGaming Ontario was formed in July 2021 and has been responsible for navigating the province’s online gaming market, and falls under the Alcohol and Gaming Commission of Ontario (AGCO).

It has engaged private operators to a full fledge products and services with special focus on consumer protection and compliance.

All operators must be registered with the AGCO and execute operating agreements with iGO before offering their services to players in Ontario. This way, the province gains a share from the revenue that is earned through online gaming.

To better understand the growth, let’s compare the following historical data:

Ontario iGaming scene has quickly transformed since it kicked off in early 2022. What started as a niche market has rapidly blossomed into a powerhouse, with a flood of new operators, a bustling player base, and a serious boost in revenue. The stats are clear: online gaming in Ontario is on the rise and continues to grow stronger.

Back in its first quarter, Ontario’s iGaming landscape was relatively modest with just 18 operators. Fast forward to 2024, and that number has exploded to 50. This is a thrilling development for players across the province!  With an awesome mix of gaming options—think exciting slot machines, classic table games, and sports betting—there’s never been a better time to jump into the fun.

But the real story is not just about more operators, it is about more players. When the market opened there were around 49,2000 active account holders. By the first quarter of 2024-25, this has risen to almost 1.9 million. With nearly four times as many players now, it’s clear that the thirst for online gaming in Ontario is stronger than ever.

More players equal more funds and it seems that people in Ontario are really playing big these days. Spending per player-a-month increased further from $197 in the first quarter of 2023-24 to $284 in the first quarter of 2024-25. This marked increase can be attributed to the increasing uptake of online games and the expanded choice of games.

Casino games are still the big winners here. Slot machines, live dealer tables, bingo—you name it, Ontarians are betting on Canadian online casinos. During the first quarter of 2024-25, these games scored big with a whopping $15.5 billion in wagers and $529 million in revenue, marking a stunning rise from last year’s $11.6 billion and $392 million.

The excitement around sports betting is hard to ignore. With an impressive $2.5 billion wagered and $181 million earned in revenue during the first quarter of 2024-25, it’s a significant jump from last year’s figures of $2 billion and $138 million.

Poker, though is a smaller part of the pie, has remained constant. In the same quarter, poker of the peer to peer type accepted $402 million in wagers and $16 million in revenue. It’s not the most profitable, but this one is loved by those who prefer a thinking man’s game.

Why the Boom?

The regulator’s decision to open up the iGaming market to private operators has been a turning point. By inviting companies to register with the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario (iGO), the province has rolled out the welcome mat for some of the industry’s most influential players to join the market.

The operators are definitely stepping up their game with some very interesting platforms, new and unique offerings—and lots of choices for the players.

However, this isn’t a wild west scenario—there are strict guidelines designed to protect consumers and keep operators honest in the game. They are required to adhere to very high standards of transparency and consumer protection and thus the player can be assured. This is where there is a good balance between the competition and regulation and it is this that has allowed Ontario’s iGaming market to grow at such a pace.

Moreover, this model has been very appealing to operators and they consider that Ontario is one of the best market opportunities in North America. Due to beneficial revenue sharing arrangement and comparatively low entry barriers, it is not a secret that many firms are interested in expanding their operations in the region.

The Future Looks Bright

Besides the numbers, Ontario’s iGaming ecosystem is an exciting adventure area, designed to let players navigate through a vast variety of gaming opportunities. And of course, given that safety and integrity are among its core concerns, it’s a place where anyone from the casual player to the seasoned high roller can enjoy a wide range of games, from exciting slot machines to sports betting and traditional poker tables.

Today’s snapshot of Ontario’s iGaming market reveals a dynamic and thriving ecosystem. With operators relentlessly crafting groundbreaking concepts, the momentum is undeniable, and the journey of innovation is just beginning. It’s only natural then that with more participants getting in the fray, Ontario’s digital gaming sector is now considered one of the biggest players in the worldwide online gambling industry.

With the remarkable leaps forward in the last two years, it’s evident that Ontario’s iGaming landscape is merely at the starting line, with a thrilling journey still ahead. The first-quarter results from 2024-25 indicate that this rapidly expanding industry is only going to grow in the future.