Online gaming wagers in the Canadian province of Ontario reached CA$9.5bn in May, according to a report from iGaming Ontario. This figure represents a 2 per cent increase from the previous month, indicating continued growth in the province’s regulated online gambling market. Non-adjusted gross gaming revenue (NAGGR) for the month was CA$413.1m, also up 2 per cent from April.
The data, released by iGaming Ontario, the province’s regulatory body, highlights the steady expansion of Ontario’s igaming sector since its launch in April 2022. The online casino gaming segment, which includes slots and table games, remains the primary driver of wagers and revenue. While specific breakdowns for May were not provided in the excerpt, previous reports have shown that casino games account for the vast majority of total wagers in the province.
Ontario’s igaming market is one of the most competitive in North America, with over 40 licensed operators offering services to residents. The province’s regulatory framework, overseen by the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario, has been praised for balancing consumer protection with market growth. The May figures suggest that the market continues to mature, with steady month-over-month increases in both wagers and revenue.
The 2 per cent growth in wagers from April to May aligns with broader trends observed since the market’s inception. In the first quarter of 2024, total wagers in Ontario reached approximately CA$27bn, with NAGGR of CA$1.2bn. The May performance indicates that the market is on track to maintain or exceed these levels in the second quarter.
Industry analysts note that Ontario’s igaming market benefits from a large population base, high internet penetration, and a well-regulated environment that attracts both domestic and international operators. The province’s approach to igaming regulation has served as a model for other Canadian provinces and jurisdictions worldwide considering similar frameworks.
Looking ahead, the continued growth in wagers and revenue suggests that Ontario’s igaming market has not yet reached saturation. With ongoing marketing efforts by operators and the introduction of new products and features, the market is expected to expand further in the coming months. However, regulatory developments and potential changes in consumer behavior could influence future growth rates.
The May report from iGaming Ontario provides a positive snapshot of the province’s igaming industry, reinforcing its status as a key player in the global online gambling landscape. Stakeholders will be watching closely to see if the upward trend continues into the summer months.