iGaming Ontario: Highlights From Q3 Performance

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iGaming Ontario: Highlights From Q3 Performance

February 1, 2024

We are excited to share that our team will be at the ICE London expo. The event is happening from Feb 6–8 at Excel London. If you are interested in learning about the latest trends in iGaming and Sports betting in Canada, schedule a meeting with our team. 


The iGaming landscape in Ontario has witnessed significant growth, as reflected in the market performance reports compiled by iGaming Ontario for the third quarter (Q3) of the fiscal years 2022–23 and 2023–24. These reports provide comprehensive insights into the industry, covering key metrics such as total wagers, gaming revenue, operator and website counts, active player accounts, and average player spending. 


Q3 2022–23 Highlights:

The iGaming Ontario market performance report for Q3 2022–23 reveals robust growth across various key indicators:

  • Total Wagers: $11.53 billion, a remarkable 91% increase over Q2 (2022–23).

  • Total Gaming Revenue: $457 million, demonstrating a 71% increase from the previous quarter.

  • Operators and Gaming Websites: The market saw an influx of 36 operators (50% increase) and 68 gaming websites (62% increase) as of December 31, 2022.

  • Active Player Accounts: The number of active player accounts surged by 45%, reaching 910,000.

  • Average Player Spend: The average monthly spend per active player account increased by 18%, reaching $167.


Q3 2023–24 Highlights:

The subsequent fiscal year, Q3 2023–24, continued the upward trajectory of the iGaming Ontario market, as outlined in the performance report:

  • Total Wagers: $17.2 billion, showcasing a strong 21% increase over the previous quarter.

  • Total Gaming Revenue: $658 million, indicating a large22% increase over Q2  (2023–24).

  • Operators and Gaming Websites: The market maintained a count of 47 operators and 72 gaming websites.

  • Active Player Accounts: Approximately 1.2 million active player accounts were recorded during Q3.

  • Average Player Spend: The average monthly spend per active player account reached $186.


Comparative Analysis:

The comparative analysis between Q3 2022–23 and Q3 2023–24 underscores the industry’s robust growth:

  • Wagers and Revenue Growth: Q3 2023–24 saw a 21% increase in total wagers and a 22% increase in gaming revenue compared to Q3 2022–23.

  • Operator and Website Stability: The number of operators and gaming websites remained relatively stable in Q3 2023–24, indicating sustained market participation.

  • Active Player Base: Q3 2023–24 recorded a substantial increase in the active player base, reaching 1.2 million, compared to 910,000 in Q3 2022–23.

  • Average Player Spend: The average monthly spend per active player account saw a moderate increase of $19 in Q3 2023–24 compared to Q3 2022–23.


Ontario’s iGaming market has demonstrated impressive growth in both fiscal years, with Q3 2023–24 marking a substantial uptick in total wagers, gaming revenue, and active player accounts. These quarterly performance reports showcase merchants and their affiliates the positive market dynamics, trends, and areas for potential development.

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