The Ontario iGaming market maintains a strong momentum, posting its fourth straight quarter with handle exceeding $17 billion. iGaming Ontario’s latest report reveals a total handle of $18.7 billion for Q2 (July-September 2024), representing a 31.7% increase from Q2 2023’s $14.7 billion and building on Q1 2024’s $18.4 billion.
The quarter saw 51 operators across 83 websites generate $738 million in total revenue, marking a 35.7% year-over-year increase and a 1.7% improvement from Q1. Active player accounts exceeded 1.3 million, with the average monthly spend per player rising to $308 from Q1’s $284.
Ontario iGaming Market in Q2 2024
The huge jump in revenue shows how the iGaming industry is still yet to reach its peak in Canada, particularly in Ontario. If anything, this should inspire you to start learning how to open a sportsbook and be part of the still-growing gaming industry.
Let us take a look at the performance of each segment, so we can gauge which segments are more lucrative. When you manage your own iGaming business, you will need to know this. It will help you develop strategies to generate more volume, and potentially more revenue in your site. Ontario’s iGaming market is quite diverse as they offer not just sports betting, but online casino gaming as well. By using the best Bookie PPH software, you can offer the same products as well.
Casino Gaming
Casino wagering reached $16 billion in handle, marking a 34.5% increase year-over-year. Revenue climbed to $553 million, representing a 36% jump from Q2 2023. These figures encompass slots, live and computer-based table games, and peer-to-peer bingo.
Sports Betting
Sports betting generated $2.2 billion in handle, showing a modest year-over-year increase but declining 12% from Q1. Revenue reached $167 million, up 41.5% year-over-year but down $14 million from the previous quarter.
Poker
Peer-to-peer poker saw its handle rise to $417 million, a 5% increase year-over-year and an improvement from Q1’s $402 million. Revenue reached $18 million, representing a $2 million increase both year-over-year and quarter-over-quarter.
The Ontario Betting Market Performance is Even Larger Than Before
These figures exclude Ontario Lottery and Gaming Corporation’s iGaming and pari-mutuel wagering activity. As Canada’s most populous province and currently, its only regulated market, Ontario has seen significant growth since launching single-game online sports betting in August 2021 and iGaming in April 2022.
These numbers are very encouraging, especially since other provinces in Canada, such as Alberta, want to pattern their structure to that of Ontario’s. By offering a wide range of iGaming products to customers, you will easily generate higher revenue. You can easily compare markets that offer solely sports betting versus markets like Ontario which offer more. If you want to do the same, check out this Bookie PPH review and find out which software providers can help you with your iGaming website.
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