The iGaming iGaming – FY2023-24 Q2 financials gaming revenue was $407 million, while all gambling reports $14.2 billion in wagers. (Images courtesy of igamingontario.ca)
The latest figures from online sports betting and iGaming Ontario market in Canada show C$ 14.2 billion in wagers and C$ 540 million in gaming revenue.
The figures also show that are now 47 operators offering gambling entertainment services in the province. From those 47 companies, there are currently 72 websites serving a population of close to 15 million.
Under the Alcohol and Gaming Commission of Ontario (AGCO), some of the casino brands operating in the province are also those you will be familiar with via the Malta Gaming Authority (MGA), Curacao, and UK Gambling Commission. 888Casino, Casumo, Wheelz, Wildz, LeoVegas, Royal Panda, and Playtech’s NorthStar Bets all operate in the Canadian province. Wheelz and Wildz are Rootz operator casinos, while LeoVegas and Royal Panada are now under the BetMGM arm.
Several other operators with multiple websites offer online casinos, sports betting, lottery, and eSports services. Across these operators, there are 943,000 active player accounts, and the average spend for each is C$191 per month.
For a full picture of online casinos reviewed here on Livecasinocentral, we have 888Casino, Wheelz, Wildz, Casumo, and LeoVegas covered on our full comprehensive live dealer casino Canada portal.
Gaming Revenue Broken Down
The iGaming Ontario entity regulates the online casino and sports betting side of the province’s gambling market. It operates as an AGCO subsidiary, while AGCO deals with all gambling in the Canadian province. Below are the figures collected from all casinos, sports books, and online poker wagers made and the revenues reported by operators to iGaming Ontario gambling authority.
Wagering Figures provided by iGaming Ontario
The figures show that C$ 11.9 billion came from online casinos, while sports betting made up $1.9 billion. Pair the casino figure with the P2P poker revenue of C$ 397 million, which means the total iGaming revenue comes to C$ 12.297 billion. Add sports betting, and the total totals C$ 14.197 billion. Therefore, iGaming makes up 86.62% of Ontario’s online gambling market.
Revenue Figures provided by iGaming Ontario
I’ve broken this section into bullet points to make it clearer.
- Casinos: Online casinos made C$ 407 million in revenue, which is 3.42% of all wagers.
- Betting: Sports Betting made C$ 118 million in revenue, which is 6.21% of all wagers.
- Poker: Poker sites made C$ 16 million in revenue, which is 4.03%.
In terms of revenue, sports certainly has a larger margin overall, with poker coming second. Casinos don’t appear to make as much back from wagers, probably due to bonuses and high RTPS (low house edge).
| Wagers | Revenue |
|---|---|
| Casino C$ 11.9 billion | C$ 407 million |
| Betting C$ 1.9 billion | C$ 118 million |
| P2P Poker C$ 397 million | C$ 16 million |
| Total $ 14.2 billion | $ 540 million |
Summary of All Points Made by iGaming Ontario
- Wagers in the second quarter reached C$ 14.2 billion, which is an increase of 132% compared to the same period in 2023. However, the numbers here do not include wagers from bonus betting.
- Gaming earnings for Q2 stood at C$ 540 million, which is a 105% growth versus Q2 2022. This amount covers all cash wagers, including various fees and subtracting player winnings, but doesn’t factor in operating expenses or other liabilities.
- About 943,000 player accounts were active. Although the iGaming authority report does state that some people may own multiple accounts. Therefore, this is not a reflection of unique players on Ontario.
- Nearly C$ 11.9 billion, or 84% of all wagers, and C$ 407 million, or 75% of gaming revenue, came from online slots, live casino and virtual table games, as well as P2P bingo games.
- Around C$ 1.9 billion, or 13% of all wagers, and C$ 118 million, or 22% of all gaming revenue, came via a variety of sports betting. This includes sports, live in-play betting, eSports, and other betting markets.
Q2 2022 Results Vs Q3 2023 Results
| Metrics | Q2 2023 Figures | Q2 2022 Figures (Calculated) | % Increase |
|---|---|---|---|
| Total Wagers | $14.2 billion | $6.12 billion | 132% |
| Gaming Earnings | $540 million | $263.4 million | 105% |
The Ontario iGaming market is still growing: Like we have seen in new iGaming and sports betting markets online, such as Michigan, Pennsylvania, and other states in the US, growth continues for all gambling activities. Ontario is also one of the most recent online gambling markets to come online in North America as it launched on 4 April 2023.
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