Ontario iGaming’s Record of $22.7B in Revenue Signals Strong Growth Ahead

iGaming Ontario, the body overseeing online gambling in the province, has reported that players spent $22.7 billion in the final quarter of  2024. Let’s dig into the numbers!

Since we last looked at the numbers in detail, the $22.7 billion generated in revenue sets a new high watermark for players in Ontario.

But, what’s driving the growth in the Ontario online gambling market, and what can we expect when the 2025 numbers start to get reported in the upcoming months?

It’s been a few years now since the legislation hit, and we can see some clear trends as to where players are spending their money. While players in Ontario enjoy their sports betting, the iGaming Ontario report has shown that the online casino gaming that’s driving the record revenue numbers.

$18 billion of the aforementioned number was online casino gaming along, which was a 38% year-over-year increase per the iGaming Ontario report. Online sports betting sites accounted for a mere $3.4 billion. While that’s not a small number by any means, it’s a pittance compared to how much real money online slots, table games, and live dealer action is driving.

The revenue numbers for online gaming are not a huge surprise, considering most Canadians have to travel by car for at least 30 minutes to an hour to reach their closest land-based casino.

Having easy access to Canadian online casinos makes it easier for them to log in and have some fun. One of the biggest contributors to the numbers has been what some experts call as the “casual player”.

In the past, going to a casino was an excursion: you’d have to make plans, and it would be more of a one-off, night out. Nowadays, players can log in and play for a little bit at a time, whether on a break, when their bored or in transit. Accessibility has been a big factor.

The other big boost to the gaming numbers has been the progress in hardware technology. In the past, there would be challenges either with geolocation or the phones themselves not having enough processing power to make the experience fast and seamless.

That’s not an issue anymore, as almost any casino game runs very smoothly on a phone that’s even a few years old.

Casino gaming in Canada has taken a huge leap forward in the last few years, and we should expect at least similar growth in the next few years. Here’s why:

• Online gambling is now entertainment, not a guilty pleasure.
• Sports broadcasts regularly feature betting picks and casinos.
• Casino revenue continues to outpace sports betting in Ontario.
• Players benefit from competition among the top online casinos.