January 23, 2025 5l4lc
iGaming Ontario had been publishing quarterly reports, but has moved to monthly reporting, citing an effort towards being fully transparent, moving to be in line with monthly results reporting as found in many US state markets. iGO now provides a page with a link to an Excel spreadsheet with the Casino, Sports Betting and Poker results. This format makes market observation very easy, and introduces a new level of granularity for all key performance indicators.
For the months of October through December, 2024, sports betting handle, or the value of cash wagers, grew nearly 11 per cent over the same period in 2023. Online casino wagers over the same period grew an incredible 29%, up to nearly $19 billion in wagers, from $14.6 billion. This was the sort of comparison to which we were previously restricted - quarterly.
Not any more. iGO also previously had a very counter-intuitive reporting calendar, since they began their results as an organization in April of 2022. With this shift and the new reporting, including some historical monthly data, we can actually see exactly how the 2023 and 2024 calendar years compare.
2024 saw overall Net Gaming revenue across all verticals of $3.003 billion, which is up 32% from the $2.269 billion of revenue in 2023. Revenue from legal Ontario online casinos is up a whopping 38%, while the province's sports betting revenue is up 20% for this period.
Ontario NAGGR in millions of dollars 2g2i4h |
| Casino | Betting | Poker | Total | |
| 2023 | $1,636 | $570 | $63 | $2,269 |
| 2024 | $2,250 | $686 | $68 | $3,003 |
| YoY% | +38% | +20% | +8% | +32% |
Assuming the stated 20% revenue share on GGR, the province took in $453 million in 2023 and just over $600 million in 2024. So in the last two years, that's over a billion dollars, that previous to the establishment of iGO, would have otherwise left the province - never to return. Yet still, no other Canadian provinces have created firm plans with respect to the regulation of iGaming in their own jurisdictions.
With US President Trump's recent tariff threats, and provincial premiers supposedly looking to break down barriers for inter-provincial trade, it's very hard to understand why every other premier isn't knocking on Doug Ford's door to piggy back on, or plug into the iGaming Ontario system in the most expedient legal manner possible.
Go back to SNBET's Canadian gaming news page.