Canadian Online Casinos: Ontario Hits Record $22.7 Billion in Wagers in Q3 2024-25

Posted on: January 23, 2025, 03:55h. 

Last updated on: January 23, 2025, 03:55h.

Ontario gamblers set a new record in total wagers in Q3 2024-25, according to data released by iGaming Ontario.

Ontario is a market that’s still growing, with 50 operators and 83 licensed gaming websites showing activity in the quarter (ended Dec. 31, 2024). Total wagers were at $22.7 billion (not including bonuses), a 22% increase over Q2 ($18.7 billion), and a 32% increase over Q3 2023-24.

iGaming Ontario has released market performance results for Q3 2024-25, showing record total wagers.

Online Casino Dominates the Market

Total gaming revenue ($825.8 million) was a 10% increase over Q2 and a 25% increase compared to Q3 of last fiscal year. Gaming revenue represents total cash wagers, including rake fees, tournament fees, and other fees, across all operators, minus player winnings derived from cash wagers and does not take into account operating costs or other liabilities.

Casino games continue to dominate the market – 83 per cent of total wagers ($18.9 billion) and 78 per cent ($644 million) of gaming revenue. Casino games included slots, live and computer-based table games and peer-to-peer bingo.

Canadian gaming: Sports Betting Rises Slightly

Betting on sports, esports, proposition and novelty bets, and exchange betting was 15 per cent ($3.4 billion) of total wagers (higher than Q2), 20 per cent of gaming revenue ($166 million).

Peer-to-peer poker was at 1.8 per cent of total wagers ($418 million) and 1.9 per cent ($16 million) of gaming revenue.

Great Canadian Closes Casino Deal

Great Canadian Entertainment has closed the sale of two west coast casinos to Petroglyph Development Group Ltd. (PDG), having received all required approvals from the regulatory authorities.

The sale of both the properties – Casino Nanaimo and Elements Casino Victoria – was initially announced last summer and fall. PDG is a wholly owned corporation of the Snuneymuxw First Nation.

The Snuneymuxw are a First Nation of the Coast Salish People, located in the centre of Coast Salish Territory on the eastern coast of Vancouver Island, the Gulf Islands, the Fraser River, Burrard Inlet and the Howe Sound.

Regulatory Approvals

Great Canadian Entertainment owns and operates 25 destinations across Canada, featuring more than 18,000 slot machines, 600 live table games, restaurants, and live entertainment.

An incredible amount of work has been undertaken by our corporate team, our on-site teams at both properties, and PDG to achieve this successful closing,” said Matt Anfinson, CEO of Great Canadian. “I am grateful for their efforts, as well as everyone at the B.C. Lottery Corporation and the Gaming Policy Enforcement Branch, who were thoughtful, diligent, and thorough in facilitating these closings.”

The deal is significant for the First Nation, according to Ian Simpson, Chief Executive Officer, PDG.

“Acquiring these assets marks a pivotal shift for Snuneymuxw and Vancouver Island,” he said. “This transition will fuel the Island’s economy, strengthening the Snuneymuxw Nation and ensuring the benefits stay local.”