Ontario iGaming wagers hit $17.8 billion in 2023-2024
Global News
A new report offers insights into Ontario's online gaming market, which racked up nearly $18 billion in wagers during the 2023-2024 period.
As Ontario sports fans eagerly anticipate the kickoff to the NBA and NHL playoffs, a newly-released report is offering insights into the province’s online gaming market, which racked up nearly $18 billion in wagers during the 2023-2024 period.
The report, released Wednesday by iGaming Ontario, an online gaming platform that regulates and approves private gaming companies in the province, covers the period from April 1, 2023, through March 31, 2024, and unveiled a considerable increase in total wagers and gaming revenue.
In the fourth quarter alone, iGaming Ontario, a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO), said total wagers soared to an impressive $17.8 billion, contributing to an annual total of $63 billion for the 2023-2024 fiscal year.
This marks a substantial 78 -er cent increase compared to the previous year and doesn’t include promotional wagers (bonuses), the report said.
Meanwhile, Q4 total gaming revenue reached $690 million, contributing to an annual total of $2.4 billion for the 2023-2024 period, marking a considerable 72-per cent increase over the previous year.
The report said this figure includes total cash wagers, including rake fees, tournament fees, and other charges, as well as player winnings derived from cash wagers. It’s important to note that this does not include operating costs or liabilities.
“With $63 billion in wagering and $2.4 billion in gaming revenue, the second year of Ontario’s iGaming market is more than 70-per cent bigger than the first,” said Martha Otton, executive director of iGaming Ontario.
“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,” said Otton.
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