What has 2024 been like for the iGaming industry in Ontario?

Back in April 2022, Ontario was the first Canadian province to open up its own legal, regulated iGaming market. Today, over two years on, the iGaming industry here is thriving, and some fascinating developments have taken place over the last year. This incredible province has so much to offer to both residents and visitors alike, and its varied and world-leading online gambling landscape has added a new layer to the Ontarian entertainment scene. So, what has 2024 been like for the iGaming industry in Ontario? In this article, we’ve considered the biggest changes of the last year and rounded up some of the key moments for Ontario’s iGaming industry in 2024.

How has Ontario’s iGaming market performed this year?

Building on its successes from the last financial year, Ontario’s iGaming industry has performed impressively well in 2024. Ontario is leading the way on the North American online gambling scene, and online casinos in Ontario have become increasingly popular amongst a variety of demographics in the province. According to iGaming Ontario’s Q2 report for the 2024-25 financial year, there were over 1.32 million active player accounts in the second quarter, and the average monthly spend per active account during this period was $308. This demonstrates a sustained and growing demand for online gambling opportunities amongst Ontarian residents, and shows just how popular this relatively new entertainment scene has become since its opening in April 2022. 

Alongside all the classic favorite online casino games, sports betting activity has also seen a major uplift in Ontario in 2024. Sports betting accounted for $167 million (23%) of total gaming revenue in the market’s 2nd quarter this year, indicating that betting on major sports events and esports tournaments is becoming increasingly popular with consumers. The iGaming market in Ontario has gone from strength to strength this year, and shows no signs of slowing down just yet!

What has been the impact on the local economy?

Since Ontario opened up its doors to iGaming operators back in 2022, this fast-growing new industry has had a major impact on the province’s local economy. Local residents here have benefitted from the creation of new full-time equivalent job opportunities; iGaming Ontario reported that the market sustained almost 15,000 jobs in its second year, making a significant difference to employment levels in the province. This growing iGaming market has recruited local talent across a variety of specialities including software developers, data analysts, customer service advisors and financial experts, making it a key source of employment in the area. It has undoubtedly been a turbulent few years for the global economy, and in these uncertain times, many Ontarians have welcomed this much-needed boost to local employment opportunities.

Alongside the creation of job opportunities for local people, Ontario’s iGaming industry has also made impressive financial contributions to the local economy by generating high amounts of government revenue. In its second year, this flourishing market added an incredible $2.7 billion to Ontario’s GDP, including millions of dollars contributed to federal, provincial and municipal government revenues. By opening up a legal and regulated iGaming market, the province has hugely benefitted from tax revenue generated by gaming operators, which has helped to stimulate the local economy here. Revenue from iGaming activity has directly contributed to improvements to infrastructure in the province, including local services, education, and healthcare providers. In 2024, Ontario’s iGaming industry has certainly demonstrated its capacity to make significant contributions to the province’s overall finances, providing a key source of funding for many vital local services.

What’s next for iGaming in Ontario?

Overall, the signs are pointing to further growth for Ontario’s iGaming industry over the coming years. Operators based in the province can expect to see further changes to regulation next year, as the AGCO (Alcohol and Gaming Commission of Ontario) continues to strive to uphold player safety measures whilst fostering further growth in this successful homegrown market. Because of this, those working in the industry will certainly need to stay updated about the latest regulatory changes in order to maintain their influence and uphold industry standards. With the number of licensed operators set to increase next year, iGaming companies in the province will also need to work hard to stay ahead of their competition. The success of Ontario’s iGaming scene has attracted plenty of new operators, meaning that this growing market will become increasingly competitive next year and beyond. Thanks to this high level of market competition and diversification, players in Ontario can likely expect even better online games and bonuses on offer very soon.

In 2024, revolutionary new technologies including AI (artificial intelligence) and VR (virtual reality) have been a major area of discussion and innovation in the iGaming world. This trend is set to advance further in the coming months and years, as software developers at major gambling firms are increasingly employing new technologies to enhance and personalize the overall user experience. This year, we have already witnessed growing incorporation of AI into online casino games in Ontario, with growing use of AI chatbots and fraud detection systems already present on a lot of the province’s leading gambling sites. In the future, players can expect an increasingly unique and personalized gaming experience, as these continuously improving machine-learning technologies are utilized to recommend tailored games and promotions to each individual player. If this ground-breaking technology is used carefully in the industry, it could boost the overall performance of the iGaming market in Ontario by offering a highly bespoke and streamlined experience of playing gambling games online. 

Looking back on 2024, it is clear that Ontario’s flourishing iGaming industry has achieved another hugely successful year, attracting new users and offering an increasingly varied selection of entertainment. This relatively new market has quickly generated enormous amounts of revenue, and is leading the way within the North American online gambling industry. Whatever happens next, it will be fascinating to see what exciting new technologies and gaming opportunities will arise on Ontario’s iGaming landscape in the future – it looks like another great year ahead!