Ontario’s online wager total up 78% in fiscal year 2023-24, revenue up 72%

Home » Ontario’s online wager total up 78% in fiscal year 2023-24, revenue up 72%

Ontario recorded total online wagers of CA$63 billion (US$46 billion) for fiscal year 2023-24, up 78% year over year, according to a market-performance report issued Wednesday by iGaming Ontario.

The report, covering April 1, 2023, through March 31, 2024, includes information from all licensed operators with gaming websites that had trading activity during this period: 47 operators and 77 gaming websites in total.

Total wagers for the fourth quarter were CA$17.8 billion (US$12.9 billion).

In terms of total gaming revenue, the market generated CA$690 million (US$501 million) in Q4, with the full fiscal year ending at $2.4 billion (US$1.7 billion), up 72% year over year.

Casinos (including slots, live and computer-based table games, and peer-to-peer bingo) led the charge with a total of $51.7 billion in wagers ($14.6 billion in Q4), an 88% increase over 2022-23, followed by sports betting ($9.7 billion over the fiscal year, a 39% increase over FY 22-23, with $2.7 billion in Q4) and player-to-player poker ($1.6 billion, a 64% increase over FY 22-23, with $446 million in Q4).

In terms of gaming revenue by category in FY 2023-24, $1.8 billion came from casino, an 89% increase year over year ($510 million in Q4), $588 million from sports betting, a 36% increase year over year ($161 million in Q4), and $67 million from P2P poker, a 67% increase year over year ($19 million in Q4).

“With $63 billion in wagering and $2.4 billion in gaming revenue, the second year of Ontario’s igaming market is more than 70% bigger than the first,” said iGaming Ontario Executive Director Martha Otton. “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.”

A statement from iGaming Ontario indicated that 1.3 million player accounts were active during Q4 (accounts with cash and/or promotional wagering activity during the time period that don’t represent unique players, as some individuals have accounts with multiple operators), and the monthly spend per active player account during the quarter was $263. Average monthly spend per player peaked in Q2 at $300.

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