How Is Ontario’s Online Gambling Industry Breaking Revenue Records?
According to a new study by iGaming Ontario, the online gambling industry in Ontario is breaking all records! Total online gambling revenue reached an unprecedented $726 million, which means an increase of 5.2% compared to the previous quarter ($690 million) and an impressive 34% compared to the same period last year ($540 million). If we break down the numbers, it looks like this:
— Total revenue: $726 million
— Share of online casinos: $529 million
— Share of sports betting: $181 million
— The share of online poker: $16 million (down from $19 million in Q4).
Are online casinos a gold mine for Ontario?
In turn, the province of Ontario itself received $145.2 million in net profit in the form of tax revenues to the budget, thanks to a 20% tax on online gambling. Interestingly, since the opening of this market in April 2022, the taxes received by the provincial budget have amounted to a little less than a billion dollars, namely $911.8 million, which is really impressive!
These figures can be used to see the growth dynamics for the past period:
— Quarter 1 (2022-2023): $32.4 million
— Quarter 2 (2022-2023): $53.4 million
— Quarter 3 (2022-2023): $91.4 million
— Quarter 4 (2022-2023): $102.8 million
— Quarter 1 (2023-2024): $109 million
— Quarter 2 (2023-2024): $108 million
— Quarter 3 (2023-2024): $131.6 million
— Quarter 4 (2023-2024): $138 million
— Quarter 1 (2024-2025): $145.2 million
What is the average deposit of 1 player?
What can we say? The numbers are really impressive, but what is even more impressive is the future growth prospects of the market, which, judging by the list above, are very encouraging and the leading place in all this is occupied by online casinos, as their percentage of all bets made in the field of online gambling as of now is 84%, and the percentage of the total industry revenue is 73%. Interestingly, there are 1.9 million active players in Quarter 1 (2024-2025), with an average monthly online gambling spend of $284 per active player.
Conclusion with a nuance
This is the current situation with the market. By the way, if after reading this article you want to become a part of these statistics, choose a gambling establishment with the best offers on the Canadian market and get really strong emotions!
