Ontario smashes records with $18.4 billion gambling handle
Ontarios online gambling industry is experiencing unprecedented growth, according to the latest report from iGaming Ontario. The provinces total gambling handle surged to $18.4 billion (approximately 17 billion) in the second quarter of 2024, marking a 31 percent increase compared to the same period last year. This explosive growth has translated into substantial revenue for operators, with total gaming revenue reaching $726 million (approximately 669.6 million), a 34 percent jump year-over-year.
Casino games, including slots, table games, and bingo, continue to be the driving force behind Ontarios iGaming success. 바카라ers wagered a massive $15.5 billion (approximately 14.3 billion) on these games, accounting for 84 percent of total wagers. This category alone generated $529 million (approximately 487.9 million) in revenue for operators.
When talking about Ontarios iGaming market, the numbers tell us a lot, but what Im most proud of are the countless ways that our government partners, operators, responsible gambling experts, players, and employees have worked together to help us create a world-class market that is Ontario-made for Ontarians.
– Heidi Reinhart, Chair of iGaming Ontario
The Edmonton Oilers presence in the Stanley Cup Finals increased betting activity throughout the quarter. Sports betting had a significant impact on the provinces overall performance. With a total handle of $2.5 billion (approximately 2.3 billion), sports betting produced $181 million (approximately 166.9 million) in revenue.
While poker experienced a modest increase in handle compared to the previous year, it saw a decline from the previous quarter. The $402 million (approximately 370.8 million) wagered on peer-to-peer poker translated into $16 million (approximately 14.8 million) in revenue. This slight dip could be attributed to the overlap with the World Series of Poker in Las Vegas, which often draws professional poker players away from online competition.
Economic impact and job creation
The thriving iGaming market has a substantial economic impact on Ontario. A joint report by Deloitte Insights and iGaming Ontario revealed that the industry generated over $4 billion (approximately 3.7 billion) in economic value for the province in its first two years of operation. This includes $2.7 billion (approximately 2.5 billion) in GDP, $1.2 billion (approximately 1.1 billion) in government revenue, and the creation of nearly 15,000 jobs.
Martha Otton, Executive Director of iGaming Ontario, emphasised the positive contributions of the regulated iGaming market to the province, stating, I look forward to building on this foundation of success with operators and other partners as they invest in Ontario so that Ontarians can continue to play with confidence.
As the Ontario iGaming market matures, industry experts anticipate sustained growth and increased competition, benefiting the provinces economy and consumers.
Pictured above is Heidi Reinhart, Chair of iGaming Ontario.
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