Ontario’s iGaming Market Soars to New Heights in Q3 2024-2025

The Ontario iGaming market has recently reached new heights in the third quarter of the year 2024-2025. The province has displayed regulatory acumen, integrated technology, and an increasing number of players to strengthen its position as a pioneer of the online gaming sector in Canada.

2024-2025: A record-breaking quarter

It is clear from the numbers: The size of the market in Ontario is $22.7 billion in total wagers, excluding bonuses in the third quarter. This is a significant increase in the level of player activity and market sophistication when compared to the previous quarter. The revenues for the licensed operators were $825.8 million, which is 10% higher than that of the second quarter.

The majority of the revenue was generated by online casino games, which accounted for 83% of the total wagers and 78% of the operator’s revenue, $18.9 billion, respectively. At the moment, slots, tabletop games and bingo remain the most popular in this segment and provide Ontario’s growing number of players with a wide range of gaming options.

This is because sports betting in Canada also continued to rise to the boom in the third quarter due to the high frequency of sporting events. The segment was able to accumulate $3.4 billion in bets (15% of all bets) and produce $166 million in revenues (20% of all revenue). The experts attribute the growth to a full sports calendar, including NFL season and international soccer events. The remaining revenue was from online poker, a still small but fairly stable niche that is aimed at specific audiences.

Major market transactions

One of the highlights of Q3 was the sale of two major land-based casinos—Elements Casino Victoria and Casino Nanaimo—by Great Canadian Entertainment to the Petroglyph Development Group (PDG) of the Snuneymuxw First Nation. The deal, concluded in mid-January, is a milestone for First Nations economic development and an expanding trend of Indigenous involvement in the gaming sector.

Our Nation is sharply focused to make investments that bring returns to our people and builds our presence in the economy so that Snuneymuxw takes its rightful place

 said Chief Mike Wyse of the Snuneymuxw First Nation. 

We also celebrate our partnership with the B.C. Lottery Corporation in our pursuit to support the growth of the provincial economy and First Nation participation.

A pillar of Ontario and Canada’s growth

It is not just a gaming success story but an economic powerhouse the Canadian gambling market is. iGaming Ontario provided the report, which showed that the market has created 15,000 jobs and has made $1.24 billion in federal, provincial and municipal government revenues since it was created.

It does not end with employment and tax revenues. The provincial government uses these to support public services like healthcare, education, and infrastructure development. Gaming revenue in Ontario has also helped to support social responsibilities such as programs for First Nations communities.

Expectations for Q4 and beyond

Industry experts expect to see another strong performance as Ontario moves into the final quarter of the fiscal year. It is expected that total wagers for Q4 will be greater than $24 billion due to the holiday season and the still popular Ontario online casinos and sports betting. There are more Super Bowl and other major sporting events likely to increase even higher engagement in the sports betting segment in Q4. 

In the long run, Ontario’s iGaming sector and all online casinos Ontario should remain profitable and are bound to reach revenues of over $3.5 billion yearly in the next three years. This growth will depend on the existence of a well-balanced regulatory system that encourages innovation and, at the same time, protects the player.

Our verdict

The province of Ontario has set a record during Q3 of the 2024-2025 fiscal year, which indicates the potential that exists in the province's iGaming sector. Regardless of whether it is the operator’s revenue and total bets, job creation, and social responsibilities, the sector is going very strong. This record indicates how iGaming regulation in Canada is necessary and how a properly designed regulatory framework can lead to innovation and growth while still keeping the priority of player protection in place.

The Ontario province has emerged as a pacesetter in the region when it comes to iGaming, and other regions can follow its example. With Q4 around the corner, everyone is looking forward to Ontario continuing to set the pace for the future of iGaming in Canada.