Ontario iGaming Wagers Reach $17.8 Billion in 2023-2024
As Ontario sports fans gear up for the NBA and NHL playoffs, a newly released report sheds light on the province’s booming online gaming market, which saw nearly $18 billion in wagers during the 2023-2024 period.
The report, published Wednesday by iGaming Ontario—a platform that regulates and approves private gaming companies in the province—covers the period from April 1, 2023, to March 31, 2024. It revealed a significant increase in total wagers and gaming revenue.
In the fourth quarter alone, iGaming Ontario, a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO), reported total wagers of $17.8 billion, contributing to an annual total of $63 billion for the 2023-2024 fiscal year.
This represents a substantial 78% increase compared to the previous year, excluding promotional wagers (bonuses).
Additionally, Q4 total gaming revenue reached $690 million, contributing to an annual total of $2.4 billion for the 2023-2024 period. This marks a significant 72% increase over the previous year.
The report clarified that this figure includes total cash wagers, such as rake fees, tournament fees, and other charges, as well as player winnings derived from cash wagers. It does not account for operating costs or liabilities.
BrianTheZealous Wow, I used to play at Goldwin all the time. It’s really concerning to hear about these breaches. Definitely withdrawing my funds ASAP!
edwardadams0c Oh, and Chests of Cai Shen made me happy! Yesterday I made a good profit on bonus coins, almost x200 of the bet.
ChristopherTheSerene This giveaway seems more like a scam than a treat. It’s frustrating that they promote these contests without mentioning the reduced RTP. Players deserve better transparency!
SharonTheCrazy Another ‘lucky’ winner? With the RTP capped at 90%, I’d be surprised if anyone actually comes out ahead in the long run. This just feels like a marketing ploy.
KevinTheGracious This is a good step in the right direction, but I honestly think it’s not enough. Gambling ads are everywhere, especially on social media. The addiction warnings are helpful, but what about banning these ads altogether? It worked for cigarettes, so why not gambling?
LewisKimberly1 Well, the developers did a great job, no doubt. You can tell they put in the effort. But this whole RTP thing is really annoying! Why should you have to check the percentages before every game? Is that a new gimmick to rip off players?
PaulTheBully RTP is that thing you only start thinking about after you've lost half your salary. Be careful, friends!
LewisMichelle2 Either the generator is slow, or they have someone there with a "don't let me win" button. Who else is so "lucky"?
EvansBarbaraNixon What nonsense? I played this Book of Dead a hundred times, won normally. You are scaring me with these lowered RTP, but I really raised in this slot. Don't fall for it, guys, all this crap about 70%
I'm in total ASS with Buzzluck !!!
Michelle U. Martin Listen, I have another question. If they say I vio...
Brucebet
beev497@gmail.com It has been over a month how long does it take bru...
These numbers are staggering. Hopefully, alongside this growth, there are also robust measures in place to ensure responsible gambling and player protection.
Great to see Ontario's gaming industry booming! With $2.4 billion in gaming revenue, it’s clear that more people are enjoying online betting.
An impressive 78% increase in total wagers is no small feat. Ontario's iGaming sector is clearly thriving and showing no signs of slowing down.
Wow, $18 billion in wagers! Ontario's online gaming market is on fire. Can't wait to see how these numbers grow with the upcoming playoffs.