iGaming’s Impact in Ontario: Two Years of Growth and Entertainment

iGaming Ontario made history on April 4, 2022 when it launched the first privately owned iGaming market in Canada. Since then, the Ontario iGaming market has grown by leaps and bounds.

The legal market today includes so many different licensed and regulated iGaming Ontario casinos, and it has also overachieved when it comes to how much money it has made for the provincial government. Learn more about the massive growth of iGaming Ontario below.

Online gambling existed in Ontario long before the official launch of the iGaming Ontario market. However, like the rest of Canada, Ontario bettors were forced to gamble in a grey market when betting online, as the offshore sites they used weren’t licensed or regulated. That changed a few years ago when the initial idea to begin licensing and regulating Ontario iGaming sites emerged.

From origins to innovation: the iGaming story

The history of the iGaming Ontario market can be traced back to March 2021. The Ministry of the Attorney General and the Ministry of Finance in Ontario revealed the province was exploring the idea of setting up a legal iGaming market that would feature licensed and regulated iGaming Ontario operators.

It didn’t take long for Ontario to move forward with this initiative. The Alcohol and Gaming Commission of Ontario created an engagement portal for iGaming operators and began collecting feedback. By July 2021, iGaming Ontario was founded as a subsidiary of the AGCO, with iGaming Ontario put in charge of licensing operators interested in joining the province’s new iGaming market.

To say that iGaming Ontario has been a success from the start would be an understatement. The iGaming market hit the ground running and grew immensely over its first two years.

2022-2023: Laying the groundwork

iGaming Ontario planned to spend its first year building a strong foundation for its iGaming Ontario. It managed to do that while also generating bigger profits than most people anticipated. The statistics surrounding iGaming Ontario’s first fiscal year prove the demand for a legal iGaming market was strong.

Initial statistics and achievements of iGaming Ontario sites

As of April 2022, there were only 13 iGaming Ontario operators and 21 Ontario iGaming sites, but those numbers would increase dramatically within 12 months. By April 2023, there were 46 Ontario iGaming operators and over 70 iGaming Ontario sites.

More than 1.5 million people registered for accounts with iGaming Ontario operators in the first year. They wagered about $35.5 billion and generated almost $146 million in profits for Ontario.

2023-2024: Remarkable growth and expansion

After such a strong first year, it would have been difficult to blame iGaming Ontario if it experienced growing pains during its second year. But the second-year statistics were even more impressive than the first-year numbers.

Statistics highlighting the growth in Ontario iGaming sites and operators

The total number of iGaming Ontario operators didn’t increase much from April 2023 through April 2024, as the number went from 46 to just 47. But the amount of money wagered on iGaming Ontario sites shot up.

Ontario-based bettors wagered about $63 billion, which represented a 78% increase, and revenue went up to $2.4 billion, a 72% increase. iGaming Ontario enjoyed all this success despite seeing active player accounts drop to 1.3 million.

Those who live in Ontario currently have almost 80 iGaming Ontario sites to choose from. Take a look at several of the best Ontario iGaming sites.

North Casino

With more than 1,600 casino games and some of the fastest payout speeds in the iGaming Ontario market, this is a premier site for players looking to take advantage of their ability to gamble at licensed sites.

HellSpin Casino

If you love playing online slots, this is the iGaming Ontario site for you. You’ll receive a big bonus that includes 150 free spins when you sign up and start playing slots from the top software developers in the industry.

Joker8 Casino

This iGaming Ontario site manages to outdo North Casino and HellSpin Casino in terms of the number of casino games it offers. It has more than 6,000 games you can play.

CashWin Casino

This iGaming Ontario site has earned a reputation for providing some of the best sports betting opportunities, but it also has over 3,000 casino games from over 150 software providers.

iGaming Ontario operators do more than just provide people with a safe, secure place to play casino games. They’ve also provided the local economy with a big boost.

Boosting the local economy

In iGaming Ontario’s first year, the operators who make up the market contributed more than $1.6 billion to Ontario’s Gross Domestic Product. This included more than $900 million in labor income thanks to the 12,000 jobs it dished out to Ontarians.

Long-term economic projections

If you think the iGaming Ontario market is helping the province’s economic standing now, just wait until the future. Industry experts believe it could contribute about $4.7 billion to Ontario’s gross domestic product and provide the province with about $2.1 billion in revenue by 2031

Establishing robust regulatory frameworks

Every iGaming Ontario operator must go through a lengthy licensing and regulation process to get approved. The regulatory framework for the iGaming market in Ontario is expected to evolve in the coming years, making it even more difficult for operators to get licensed.

The centralized self-exclusion initiative

Rather than coming up with its own self-exclusion policies and forcing iGaming Ontario operators to abide by them, the organization has put the power in the hands of the operators. iGaming Ontario asked operators for ideas and is in the process of developing a centralised self-exclusion system.

It’s hard to believe iGaming Ontario has only been in business for a few years. It’s even harder to believe the iGaming market it set up has only been around for a little over two years, considering how quickly it has grown. Could the market get even bigger soon?

Technological innovations and the expansion of the market

The iGaming market in Ontario will no doubt expand each year as more iGaming Ontario operators enter the fray. This could lead to it becoming even more competitive than it is now, which could result in operators pushing out technological innovations to stay one step ahead of their competitors. We wouldn’t be surprised to see many of the best Ontario online casinos focus on offering more live dealer games to provide more lifelike casino experiences.

Ontario’s position on the global stage

Ontario isn’t just stealing the spotlight in Canada. It has the entire gambling industry paying close attention to what it’s doing on a global level. Don’t be shocked if you see other countries start iGaming markets that look similar to the one iGaming Ontario created.

Even if the iGaming Ontario market doesn’t grow at all from here on out, it’ll be a runaway success. But we wouldn’t bank on it slowing down anytime soon. It’ll be interesting to see where it goes from here.