The iGaming Ontario (iGO) market has surpassed $200 billion in total bets within just two years of operation, cementing its role as one of North America’s most competitive online gambling jurisdictions.
In the 2023-24 fiscal year, wagers reached $63.3 billion, generating $2.2 billion in gross gaming revenue from 49 licensed operators and over 2.1 million active player accounts—an increase from the 2022-23 fiscal year, which recorded $35.5 billion in wagers, $1.26 billion in revenue, and 46 operators managing 1.6 million accounts. The sector now supports roughly 15,000 full-time jobs and contributes approximately $2.7 billion to Ontario’s GDP.
Ontario finance minister Peter Bethlenfalvy described these results as “a testament to how regulatory clarity coupled with rigorous standards can stimulate responsible growth and deliver tangible value to our province.” He highlighted the economic benefits, noting contributions of nearly $230 million to multiple government levels and significant job creation within the industry.
iGaming Ontario operates under the supervision of the Alcohol and Gaming Commission of Ontario (AGCO) and pursuant to the Gaming Control Act, 1992. The framework enforces compliance with anti-money laundering laws, integrity standards, and player protection protocols. Regulatory efforts prioritize channeling players from unregulated markets—achieving over 86% market channelization by year two—and promoting responsible gaming through mandatory tools including self-exclusion programs and public awareness initiatives.
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The market’s rapid growth has generated substantial economic and social impacts, with iGO reporting a net income of $176 million in the latest fiscal year despite global economic uncertainties. Its model has also advanced indigenous partnerships by contributing more than $24 million to Ontario First Nations entities, diversifying economic benefits. Operational improvements include faster operator onboarding and enhanced cyber risk management, reinforcing market integrity.
Ontario’s iGO marketplace has established itself as a significant player in the global iGaming sector, showcasing regulatory strength and economic contribution. This growth trajectory positions Ontario at a crossroads of sustained industry stability and evolving scrutiny from international regulators.
