Published on: October 26, 2024, 10:22h. 

Last updated on: October 26, 2024, 10:22h.

Canadian Gaming Association President and CEO Paul Burns stated that Ontario’s financial results for Q2 FY 2024-25 indicate a mature market.

The latest report on iGaming performance in Ontario was released recently, showing an increase in total wagers in Q2 ($18.7 billion), up by 1.6% from Q1 and 31.7% from the same period in the previous year.

Ontario Wagers Rise

Ontario’s total gaming revenue in Q2 reached $738 million, marking a 1.7% increase from Q1 and a 35.4% increase from the previous year.

The competitive Ontario igaming market, launched in April 2022, produced these financial insights, excluding revenues generated by the government-owned Ontario Lottery and Gaming Corporation platform.

CGA President Paul Burns mentioned, “Operators in Ontario are seeing positive results, indicating a more mature market with long-term sustainability for the province and the industry.”

CGA President: Positive Growth for Operators

These results suggest a shift towards a mature market, promising long-term success for the province and the industry.

The report covers market performance from July 1 to Sept. 30, 2024, focusing on total cash wagers, rake fees, tournament fees, and other fees across operators. There were 51 operators and 83 licensed gaming websites active during Q2, with over 1.32 million active player accounts.

The casino segment stands out in Ontario, commanding 86% of total wagers ($16 billion) and 75% of gaming revenue ($553 million). Sports betting, esports, prop bets, and novelty bets accounted for 12% of total wagers ($2.2 billion) and 23% of gaming revenue ($167 million). Peer-to-peer poker contributed 2.2% of total wagers ($417 million) and 2.4% of revenue ($18 million).

Additionally, Alberta is preparing to introduce an Ontario-style igaming regulatory framework by 2025.