Canada’s online gambling market records $2.4 billion revenue in 2024 | Yogonet International

Certain Canadian provinces are a great example of how a strong iGaming sector can be a boon to a state economy. In the spring of 2022, Ontario opened up its floodgates to a slew of gambling brands. They created the list of operating requirements and a revenue-sharing model that brands had to adopt to legally offer their services. 

In just one year, the province has witnessed a record-breaking profit of $2.4B in online gambling revenue. So, let’s compare their success to the achievements of other provincial regulators. We’ll discuss what Internet gambling will look like going forward and speculate on upcoming trends. 

Availability of online gambling options in Canada

Although Canada has always had a liberal stance on this form of entertainment, we didn’t see a massive market shift until iGaming Ontario entered the picture. This regulator took a bold approach by opening its doors to offshore brands that were already popular among Ontario gamblers. This has made gambling on those sites safer, and it also made it possible for the provincial government to reap some financial benefits that we pointed out at the start. The current list includes 51 operators and 83 gambling websites, and it is poised to welcome new brands. 

Other provinces do not extend the same freedom of choice to their players but still embrace the growing demand for internet gambling. In essence, they have government-run sites like Loto-Quebec, PlayNow (in British Columbia), and Play Alberta (managed by AGLC). Furthermore, the Atlantic Lottery Corporation (ALC) website is live in New Brunswick, Newfoundland Labrador, Nova Scotia, and Prince Edward Island.

Provinces like Nunavut, Yukon, and the Northwest Territories also have a solid player base but they don’t have a regulated online gaming market. However, there isn’t an explicit law that prohibits Canadians from gambling on licensed offshore casinos. 

How provinces are performing in 2024 

Now that we’ve painted an accurate picture of where each province stands let’s see how they are performing revenue-wise. iGaming Ontario released a market performance report for the first two quarters of the 2024/25 fiscal year. The gaming revenue for Q1 was $726M and $738M in Q2. For context, this is a 30% increase year-over-year. 

Loto Quebec has reached an admirable $403.9M in 2023/ 24, which is a $13M ramp-up for the year prior, and AGLC reported $179M in net sales from Play Alberta. Both of these are performing well, but even if their combined population is similar to Ontario’s, the combined gambling revenue falls short.   

As for the ALC platform, its gaming revenue landed at $872,7M. Another government-run site, PlayNow, seems to be more popular in some provinces than others. For instance, it made only $5.4M in Saskatchewan. As far as the British Columbia Lottery Corporation goes they reported $476M and project a 7% increase from 2023/ 24. Unlike the rest of Canada, Manitoba marked a decrease in GGR. From $75.4M in 2022/ 23, it fell to $74.9M.

Factors driving the revenue growth and industry expansion

Slots are the biggest money makers, with popular games like Book of Ra, Gonzo’s Quest, and Mega Moolah. Before gamblers place a bet with their funds, they can try them out using no deposit-free spins Canada. After joining a no deposit bonus casino Canada, they can play selected slot titles risk-free. The best no deposit spins bonus also comes in handy whenever users want to try new titles for the first time. Once they withdraw winnings from free spins no wagering Canada, they can deposit and play. 

Canadian players also gravitate towards live and computer-based table games. For instance, slots, table games, P2P Bingo, and live dealer games accounted for 75% of Ontario’s gambling revenue in Q2 of 2024/ 25. On the other hand, P2P Poker accounted for only 2.4% of gross gaming revenue. 

The Canada online gambling market is witnessing rapid expansion for a number of reasons. The most obvious one is the accessibility of casino sites, which is a major driving force behind increased gaming revenue. You can even gamble on your smartphone or tablet. Customer preferences are changing, with younger generations of players more used to digital technology. Therefore, they are choosing casino sites over land-based casinos. 

Many online brands offer a wider gaming selection compared to retail options, and any new user automatically qualifies for a welcome bonus. Lastly, Canadians do have enough disposable income to afford this entertainment, so they are a perfect market for these businesses. 

Recent developments in online casinos 

Local casinos use the latest tech to bolster customer safety, and they are compliant with certain design and advertising restrictions. What’s more, many brands follow the mobile-first design philosophy and successfully cater to smartphone users through Android and iOS apps. Machine learning and AI are integrated into casino websites to provide a more personalized experience. 

Blockchain has been implemented to guarantee customer safety and game fairness. It allows players to keep track of their transactions so that everything is transparent. Additionally, it’s used to prove the fairness of the games, as every bet, win, and loss are recorded on a ledger. 

Gambling trends

If you were to compare online casinos in the early 2000s and the ones available today, you’d see notable changes. Here are some tech trends that had a significant impact on this entertainment:

• Many casinos in Ontario use blockchain technology for more manageable payments. Players can use cryptocurrency like BTC for faster and safer transactions.

• Innovative game concepts have been positively received by younger players. Crash games inspired by Aviator and Plinko are a massive hit, especially on streams. Slots are packed with features like cascading reels and progressive jackpots.

• Brands are integrating levels, achievements, competitions, quests, and other exciting elements to create gamified user incentives.

• It’s possible that some brands will start leveraging Virtual and Augmented Reality.

What’s next?

The current projections suggest that the online gambling industry is yet to plateau. Some estimates suggest that 2024 will conclude with $4.19B in overall revenue, which will likely benefit provinces on multiple fronts. Typically, these products are repurposed or invested in education, health care, and infrastructure, but this is done to offset the negative impact of gambling. Still, due to the better economic position of Canadian citizens, the social costs of gambling are somewhat lower here compared to less developed geographies.