- Ontario igaming market generates record CAD $9.24 billion in October
- Online casino market share comes in at 85%
- P2P poker sees 10% increase in revenues compared to September
Ontario saw a big jump in total wagers in October, according to financial data released today by iGaming Ontario. Total cash wagers for last month came in at CAD $9.249 billion, up 8% from the previous month.
That’s a record for Ontario, going back to when the regulated market went live in April 2022. The previous high was the CAD $8.54 billion in total wagers the market saw in September. Total wagers for October 2024 was CAD $7.45 billion.
Total non-adjusted gross gaming revenue came in at CAD $367.7 million, up 12% from September, another record number for the market.
Casino Continues Domination
Active player accounts were up 9% in October, at 1,287. Average revenue per active player account was $286, an increase of 2%. The Ontario market had 50 licensed operators in October. That number has now dropped to 48, with the news the other day that Betiton was pulling out of the market.
In terms of market share, casino dominates by a mile – 85% in terms cash wagers (CAD $7.88 billion, a 7% increase from September), and 83% in terms of revenue (CAD $303.8 million, a 9% month-over-month increase).
With the NFL season in full swing, sports betting wagers came in at CAD $1.23 billion in October, for a 13% market share, a big 16% increase from September. On the sports betting revenue side, the market generated CAD $58.3 million last month, for a 16% market share, and a 25% increase from September.
All Eyes on P2P Poker
It will be interesting to watch where the P2P poker sector goes in terms of revenues in the future. In a landmark decision earlier this month, the Ontario Court of Appeal ruled that Ontario could legally offer international liquidity – meaning there’s now a legal pathway for Ontario-based DFS and poker players to compete against peers outside Canada.
Now that there’s a pathway to expand the market for online poker and DFS outside Ontario, it’s expected that will provide a revenue boost for companies in those businesses. Up to now, that liquidity has been restricted. The new open global landscape will allow players to compete in larger pools.
In October, P2P poker did CAD $131 million in wagers, a 9% month-over-month decrease, for a 1% market share. Revenues were at CAD $5.6 million, a 10% increase for a 2% market share.
The post Ontario Breaks iGaming Wager Record with Growth Surge appeared first on Casino.org.
