Interactive
Ontario online gaming revenues reach record high in fourth quarter
By Phil - 18 April 2024
The second year of regulated sports betting and iGaming in Ontario generated $63bn in total bets and $2.4bn in revenue.
A record fourth quarter between January 1 and March 31 resulted in $17.8bn in total wagers, sparking a full-year increase of 78 per cent over the market’s first year between April 2022 and April 2023. Total gaming revenue for Q4 was $690m, paving the way for a 72 per cent hike from Year 1.
“With $63bn in wagering and $2.4bn in gaming revenue, the second year of Ontario’s igaming market is more than 70 per cent bigger than the first,” says iGaming Ontario executive director Martha Otton in a news release from the agency. “As the market matures into its third year, I look forward to building on this foundation of success with operators and other partners as they invest in Ontario so that Ontarians can continue to play with confidence.”
Fourth quarter casino wagers were $14.6bn, with the 2023-24 year ending at $51.7bn, an 88 per cent increase over 2022-23. Casino games include slots, live and computer-based table games and peer-to-peer bingo. Q4 casino gaming revenue was $510m, with the 2023-24 year ending at $1.8bn, an 89 per cent increase over 2022-23.
Q4 betting wagers were $2.7bn, with the 2023-24 year ending at $9.7bn, a 39 per cent increase over 2022-23. Betting includes on sports, esports, proposition and novelty bets, as well as exchange betting.
Q4 betting gaming revenue was $161m, with the 2023-24 year ending at $588m, a 36 per cent increase over 2022-23. Q4 peer-to-peer (P2P) poker wagers were $446m, with the 2023-24 year ending at $1.6bn, a 64 per cent increase over 2022-23. Q4 peer-to-peer poker gaming revenue was $19m, with the 2023-24 year ending at $67m, a 67 per cent increase over 2022-23.
