The Ontario iGaming Market Q3 2024 report shows a record $22.7B in wagers to solidify positions as NA’s second-largest regulated market. (Image from TravelScape on freepik.com)
We’ve closely followed the growth of the Ontario online gambling industry from day one. This April, the industry celebrated its third year in action (how time flies).
Despite initial reservations, we have been impressed with its progress so far.
While a regulated market would have expected to see continual growth since its inception in April 2022, we’re sure nobody expected it to rise to the numbers being reported today.
In short, the province’s iGaming market is booming and is now the second biggest in North America behind New Jersey.
According to the Ontario iGaming Market Q3 2024 performance report from iGaming Ontario, the province saw a staggering $22.7 billion in total wagers between October 1 and December 31, 2024, marking the strongest quarter yet for the regulated iGaming market.
That’s a record quarterly spending figure, and it shows that Ontarians have an appetite for regulated gaming sites. It is an excellent sign that the Alcohol and Gaming Commission of Ontario (AGCO), as the regulatory authority’s original goal of offering access to safe and enjoyable online gambling is an undeniable success.
With such success, other Canadian provinces are surely considering a similar approach to regulation. As we’ve reported on previously, Alberta has shown an openness to a new regulated online gambling market, despite MPs picking holes in the proposed Alberta Gaming Liquor and Cannabis Commission (AGLC).
Breaking Down the Numbers
As shown in the latest Ontario iGaming quarterly report, the performance in Q3 of 2024 represents a 22% increase over Q2 of the 2024–25 fiscal year and a 32% increase year-over-year. Those increases alone make it clear that as Ontario enters its third year of legalized online gambling, the numbers are not just holding steady; they’re surging.
With record-high wagers placed, you’d expect most growth across all market metrics. As you can see in the table to the right, that’s certainly the case. Revenue is up 10% on Q2, and the average monthly player spend jumped from $191 in Q2 to $227 in Q3.
Unsurprisingly, online casino games continue to dominate the market:
- Wagers: $18.9 billion (83% of all wagers)
- Revenue: $644 million (78% of all gaming revenue)
These include slots, live dealer games, and table games like blackjack and roulette. The popularity of these offerings indicates that players are increasingly comfortable engaging with high-quality, real-time digital casino experiences.
Sports betting accounted for $3.4 billion in wagers (15%) and $166 million in revenue (20%), while peer-to-peer poker brought in $418 million in bets and $16 million in revenue. Both are small in percentage terms, but still show consistent growth.
| Metric | Performance |
|---|---|
| Total Wagers | $22.7 billion (up from $18.2 billion in Q2) |
| Gaming Revenue | $825.8 million (up 10% from Q2) |
| Operators | 50 licensed companies |
| Gaming Websites | 83 active platforms |
| Active Player Accounts | 1.2 million |
| Average Monthly Spend | $227 |
Regulation Boosts Trust
One of Ontario’s major successes since launching its regulated iGaming market in April 2022 is its ability to shift players from unregulated, offshore sites to licensed ones, a process known as channelisation.
Although the Q3 report doesn’t update this figure, the previous fiscal year’s data (2023–24) showed that 86.4% of iGaming activity was happening on regulated platforms, up from 70% the year before. This means Ontario is one of the world’s most successful markets at capturing play legally and responsibly, according to iGaming Ontario’s previous reports.
That is all down to the strong oversight of the Alcohol and Gaming Commission of Ontario (AGCO), and iGaming Ontario has ensured that licensed operators meet strict requirements for responsible gambling tools, anti-money laundering protocols, and game fairness. It has given Ontarian gamblers more confidence in where they spend their money.
Casinoplusbonus Opinion
Ontario’s Q3 numbers show a market firing on all cylinders. The increase in average player spend, steady growth in operators, and consistent player engagement all point to a robust, sustainable online gambling ecosystem.
But there’s still room for caution. It’s a sign of a healthy market, but a rise in average monthly player spend from $191 to $227 should not go unnoticed. We feel it underlines the importance of ongoing responsible gambling education and access to harm-reduction tools. The AGCO and iGO have laid a strong foundation, but as more players jump on the bandwagon, keeping them safe should remain a top priority.
Also worth watching is the balance between casino and other verticals. Casino games continue to account for the lion’s share of activity. However, that leaves room for innovation in poker, sports betting, and niche formats that can diversify the player experience and keep the market competitive.
In short? Ontario is on a winning streak. And with the right mix of regulation, innovation, and player protection, it looks like the best is yet to come.
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