The regulated iGaming market in Ontario continues to demonstrate explosive growth, setting new records for total wagers and revenue in October.
According to the latest financial data released by iGaming Ontario, total cash wagers for the month reached a historic CAD $9.249 billion, marking an 8% increase from September, drastically contributing to the growth.
This figure represents the highest monthly total since the market officially launched in April 2022, surpassing the previous record of CAD $8.54 billion set just a month prior.
The financial surge was reflected in the gross gaming revenue, which totaled CAD $367.7 million for October—a 12% month-over-month increase and another all-time high for the province.
The data also highlighted a growing user base, with active player accounts rising by 9% to reach 1.287 million. The average revenue per active player account also saw a modest increase, climbing 2% to CAD $286.
Online casinos continue to be the dominant force within the Ontario market. Casino gaming accounted for 85% of total cash wagers, generating CAD $7.88 billion, and 83% of total revenue at CAD $303.8 million.
Meanwhile, sports betting capitalized on the busy NFL schedule, with wagers hitting CAD $1.23 billion. This represents a 13% market share and a significant 16% increase from September figures. Sports betting revenue also saw a healthy jump, generating CAD $58.3 million.
Industry analysts are closely monitoring the peer-to-peer (P2P) poker sector following a landmark legal decision.
The Ontario Court of Appeal recently ruled that the province could legally offer international liquidity, paving the way for Ontario-based poker and daily fantasy sports players to compete against global pools.
While P2P poker currently holds a 1% market share with CAD $131 million in wagers, revenues for the vertical increased by 10% in October.
The opening of global liquidity is expected to provide a substantial revenue boost to operators in this space moving forward.
