Ontario’s first market performance report for the 2024-2025 year was published earlier this year. The second report was recently published by iGaming Ontario. The report reveals some information about how the market is performing this year and how the market has grown over the last fiscal year and since going live.
Q2 2024-2025 Ontario Market Numbers Up From Q2 2023-2024
Q2 2024-2025 Ontario Market Numbers Up From Q2 2023-2024
Highlights
- 2024-2025 Q2 market performance report published
- Q2 numbers up from the 2023-2024 fiscal year
- How much has the market grown over the years?
Q2 2024-2025 market performance report published
A ton of betting numbers rose during Q2 of 2024-2025 compared to Q2 2023-2024. On Thursday, iGaming Ontario posted the Q2 market performance report for the 2024-2025 fiscal year. “This report covers the second quarter (Q2) of the 2024-25 fiscal year (FY), from July 1 to September 30, 2024. This report includes information on all operators with gaming websites that had trading activity during that period.” This is the second market performance report of this fiscal year and provides data on the regulated iGaming market in Ontario.
When it comes to sports betting sites, all of the Q2 numbers are higher this fiscal year than they were in the last fiscal year. There were $2.2 billion of total wagers in Q2 this year, up from $1.9 billion last year. Gaming revenue increased by about $49 million from Q2 last fiscal year to Q2 this fiscal year. Gaming revenue in Q2 2023-2024 was $118 million, that number rose to $167 million in Q2 2024-2025.
Market trends and data
The betting wagers numbers rose from $1.9 billion in Q2 to $3.1 billion in Q3 2023-2024. Since then, the wagering numbers have slowly declined with $2.2 billion in this fiscal year being the lowest. The gaming revenue numbers have gone up and down since the last Q2 market performance report. Since Q2 2023-2024 the gaming revenue numbers have not increased or declined for two consecutive quarters. The gaming revenue numbers did decline from Q1 this fiscal year to Q2, going from $181 million to $167 million.
Overall, the number of iGaming Ontario sportsbooks rose from 50 to 51 over the past fiscal year. The number of gaming websites with activity rose from 80 to 83. Those aren’t big gains, but the numbers indicate that Ontario’s regulated iGaming market is still growing. 1.32 million active player accounts compared to 1.29 million may also be an indication that the regulated market is still growing, with an average monthly spend of $308 compared to $284.
Numbers for the the entire market including casino and p2p poker
Wagering and gaming revenue numbers — including casino, betting, and p2p poker — overall have increased every quarter since Q2 of the last fiscal year. Wagers are up from $14.2 billion to $18.7 billion. Gaming revenue went up to $738 million from $545 million. Numbers for the casino have increased consistently since the last fiscal year while the numbers for p2p poker and betting have gone up and down. With $16 billion wagers, the casino has received the most wagers by a huge margin. But the gap between the casino’s gaming revenue and the others’ is much smaller. Despite having roughly $13.8 billion more wagers, the casino received about $386 million more in gaming revenue than betting received.
These reports have been published every year by iGaming Ontario since the regulated market went live. This fiscal year’s numbers are much higher than the first fiscal year. Most of the numbers — from total wagers to average monthly spend — that were reported by iGaming Ontario are at least two times higher now than they were in Q2 of the first fiscal year. The number of operators is more than double. The number of activer player accounts is more than double. The average monthly spend is more than double. And the total wagers and gaming revenue numbers are way up. But according to the report, the numbers in these reports are unaudited and subject to adjustment. Some of the numbers may be rounded and may not add up “precisely to the totals provided.”
Kahfeel Buchanan graduated from Toronto Metropolitan University’s journalism program. When not reading, writing, or covering sports, he likes to drink coffee, watch movies, and more. He has years of sports writing and journalism experience. From covering basketball games at Toronto Metropolitan University for the school paper to writing about sports betting, he has published a ton of sports stories throughout his time as a journalist. His work doesn’t end there, Kahfeel wrote a bunch of opinion stories on the Toronto Raptors during his early years as a sports writer, once writing about Fred VanVleet making the NBA All-Star team months before his first All-Star selection in 2022. He works hard to give readers quality journalism and great stories.