Key Moments:
- Ontario’s online gambling handle reached CA$8.14bn in August, setting a new record
- Revenue climbed to $334.8m, ranking among the highest months since launch
- Active player accounts increased by 7%, exceeding 1 million users
Market Overview
Ontario’s regulated iGaming sector achieved its strongest month yet in August, with online casino and sportsbook activity reaching unprecedented heights. Total betting handle hit CA$8.14bn, establishing a new peak since the market opened in April 2022. This figure marks only the second time that monthly wagering has surpassed the $8bn benchmark, just ahead of May’s $8.07bn.
Revenue Performance
Revenue followed suit, increasing to $334.8m for the month. Although this is slightly below the $338m all-time high recorded earlier in the year, it still represents one of the most profitable periods for Ontario’s operators. Both wagering activity and revenue posted an 8% rise from July, maintaining the market’s upward momentum following a slight slowdown over the summer months.
Year-on-Year Growth
Comparisons to last year’s numbers underscore Ontario’s rapid market expansion. Operators reported $6.05bn in handle and $238.3m in revenue in August 2024, resulting in year-over-year growth of more than $2bn in wagering and nearly $100m in revenue. This surge showcases the sustained interest and growth within the province’s online gambling sector.
Player Engagement
Player participation also saw notable improvement. The number of active accounts climbed by 7% in August, surpassing the 1 million mark after three consecutive months of decline. Average revenue per user reached $330, which is a slight increase from July and approaches last year’s peak performance.
Casino Versus Sports Betting
Casino gaming remained dominant, constituting 89% of the overall handle with $7.2bn wagered and generating $267.8m in revenue. This represents a 6% gain from July and accounted for about 80% of the market’s total revenue. Sports betting, however, also grew its presence, with wagering rising to $765m – up 11% month-on-month. Sportsbooks garnered $60.2m in revenue, a 14% month-over-month increase, resulting in an 18% market share for this segment.
| Segment | Handle | Revenue | Market Share |
|---|---|---|---|
| Casino Gaming | $7.2bn | $267.8m | 89% (handle), ~80% (revenue) |
| Sports Betting | $765m | $60.2m | 11% (handle), 18% (revenue) |
Outlook
With both casino and sports betting segments advancing in tandem, Ontario’s online gambling sector continues to chart new territory. The persistent growth suggests that the province’s regulated environment continues to reveal untapped potential more than two years since its inception.
- Author
Daniel Williams
