This marks the second complete fiscal year of legalized and regulated gambling activitiesOntario sportsbooks and online casinos ended with a bang.
From January to March, which represents the fourth quarter of the fiscal year for gaming in Ontario, the province hit new records once again. The total wagers amassed by sports betting, iGaming, and peer-to-peer poker operators reached an impressive $17.8 billion CAD, surpassing the previous record of $17.2 billion set during the earlier quarter (October to December 2023).
Every three months, financial data from iGaming Ontario is published. In the U.S., each state has its unique framework for sports betting or iGaming, with monthly reports issued by most states (some states provide updates even more frequently).
Comparison of Ontario Casino & Sports Betting: Q4 FY 2023-24 versus Q3.
Ontario Gambling Breakdown
TheOntario online casinos iGaming has consistently comprised the bulk of the total wagers, a trend that continued from January to March. From the overall $17.8 billion wagered, $14.6 billion originated from iGaming platforms. Sportsbooks combined for $2.7 billion in bets (a decrease from $3.1 billion in the previous quarter), while poker sites saw a historic $446 million in wagers.
During the fiscal year 2023-24, from April 2023 to March 2024, Canadian gambling operators collectively recorded a handle of $63.12 billion, which is nearly double the $35.546 billion from the sector's inaugural full year of operations—from April 2022 to March 2023.
Legal, regulated casino apps in Ontario The launch of sports betting took place in April 2022. Since that time, multiple operators have entered the market, with Casino Time being the latest to unveil its online casino and bingo offerings just this week.
In the fiscal year 2023-24, revenue generated from online gaming in Canada exceeded $2.4 billion, including a record-setting $690 million in Q4. The previous record was $658 million in Q3. This annual revenue is approximately double that of the previous year, during which the province reported $1.4 billion.
In Q4 alone, $510 million of the revenue came from casinos, $161 million from sportsbooks, and $19 million from other sources.Ontario online poker .
"With a total of $63 billion wagered and $2.4 billion in gaming revenue, the second year of Ontario's iGaming market has seen over a 70% increase compared to the first year,\" stated Martha Otton, Executive Director of iGaming Ontario, in a statement on the organization's website. \"As the market enters its third year, I'm eager to build upon this successful groundwork with operators and partners who are investing in Ontario, allowing local players to continue to enjoy their gaming experience with confidence.\"
iGaming Ontario's quarterly report revealed that over 1.3 million player accounts were active in Q4. The Alcohol and Gaming Commission of Ontario (AGCO) oversees gaming regulations in the province, while iGO manages the operational aspects.
Stay withdeereplanet.com forOntario sportsbook apps reviews and more industry coverage.
USA Today photo by Nick Turchiaro
