Ontario iGaming Sees Record $17.8 Billion in Wagers for 2023-2024 Season

Ontario's online gaming market has not just experienced a surge, but a significant one, with total wagers hitting nearly $18 billion during the 2023-2024 period, according to a recent report released by iGaming Ontario.

This surge is a clear indication of the potential and growth of the online gaming industry in Ontario.

Covering the period from April 1, 2023, through March 31, 2024, the report unveiled significant increases in total wagers and gaming revenue.

In the fourth quarter alone, total wagers reached $17.8 billion, contributing to an annual total of $63 billion, marking a substantial 78% increase compared to the previous year.

Total gaming revenue in Q4 amounted to $690 million, contributing to an annual total of $2.4 billion, marking a 72% increase over the previous year.

These figures include cash wagers and player winnings but exclude operating costs.

Martha Otton, Executive Director of iGaming Ontario, expressed optimism about the market's growth, stating, "As the market matures into its third year, I look forward to building on this foundation of success."

The report highlighted that casino wagers dominated Ontario's gambling scene, accounting for $14.6 billion in Q4 and $51.7 billion annually, an 88% increase over the previous year.

Casino gaming revenue in Q4 reached $510 million, contributing to an overall yearly total of $1.8 billion, marking an 89% increase over the previous year.

The active player base surged during the reported period, with over 1.3 million accounts engaged in gaming activity.

The average monthly spend per active player account in Q4 totalled $263.

Ontario's decision to open up the online gaming market has led to a significant increase in legal gambling, with the majority of players transitioning from grey market sites to legal platforms.

If you're considering legal gambling in Ontario, it's important to choose a reputable online casino.

Look for casinos that are licensed by iGaming Ontario and have a good reputation for fair play and customer service.

Check out our review of sportsbooks to find the ones that are worth spending money on!