April 2024 marked the second anniversary of Ontario's introduction of new legislation allowing sports betting companies and casinos to set up in the province. Canada has always been a critical market for iGaming companies looking to expand their operations into new areas.
The US gambling industry received a huge boost when a landmark ruling in April 2018 opened the doors to the prospect of online sports betting. The US Supreme Court ruled that states in the US could allow betting at a local level, so long as it was properly regulated and adhered to the legislation. This resulted in a flurry of new providers looking to expand into various burgeoning localized markets.
Move the clock forward four years, and Canadian provinces started to experience a similar change. However, even after the initial uptake, which quickly resulted in iGaming becoming the latest billion-dollar industry in Canada, it’s continued to show strong growth. The first quarter of this year produced some of the most impressive figures yet. But, what’s behind this sustained growth, and how big could this market get?
Exploring the growth in player accounts
Ontario is home to nearly 15 million people, so when the province ruled that licensed sports betting companies and casino platforms could expand their operations within provincial lines, it became obvious how much potential lay ahead.
Even conservative analysts predicted that it would become a multi billion-dollar industry, but few anticipated that it would continue to attract record numbers of new customers two years in. As the emergence of new online casinos provides more options for gamers in Ontario, and experts at websites like CasinoTopsOnline rank the top new casinos as they emerge, to say the market is healthy would be an understatement.
New player accounts can vary. Some gamers simply sign up for a new customer promotion, use the promotion, and never visit the site again. Others become regular customers of the iGaming platform. One thing it does signal is that it isn’t a simple case of the market warming to the idea of something new, which indicates there’s a sustained demand.
What’s behind the surge of new accounts?
While some of this interest can be explained by more people simply wanting to see what all the fuss is about, the volume of bets being placed in Ontario on both sports betting and casino gaming, and the projected growth for the industry to continue increasing into Q1 and Q2 of 2025, signal that there’s a huge market and intrigue for residents of Ontario who want to gamble.
This market has always existed, and a large number of Canadians did seek out gambling sites during the times of legislative gray area that existed until the law changed in 2022.
However, Canadians can now seek out elite-level gambling platforms, many of which have refined the quality of their service over the last 25 years in markets that were decades ahead of Ontario and the rest of Canada. Unlike UK online bettors back in 2005, who were accessing these sites as they were also finding their feet, online bettors in Ontario are able to access the advanced stages of these products in 2024.
An increase in the quality and availability of consumer technology has also made it easier to gamble online. Bettors in Ontario can access sports books and casino games via tablets and smartphones. They don’t have to travel to a physical building; they download an app, register, verify their account and are able to place a bet within a few minutes.
Do new player accounts refer to new players?
While “new player accounts” might sound like new customers are joining the market every day, it includes gamblers with accounts on other iGaming platforms who are shopping around to make the most of promotions and bonuses. There’s nothing illegal about shopping around different casino operators or sportsbooks and using welcome promotions to supplement your bet.
Promotions are a great springboard for iGaming companies to put themselves in the shop window. So, it’s not uncommon for one player to have accounts with over a dozen operators.
So yes, while they are technically new players for that specific platform, it doesn’t mean that the number of Ontarians gambling has doubled from 920,000 to 1.9 million when compared with Q1 2023. It just shows that the number of accounts per platform has increased, and the selection has led to more gamblers looking for cost-effective ways to place their bets.
Could the number of player accounts continue increasing?
Gaming revenue and the volume of wagers placed in Ontario are projected to hit new highs in Q1 of 2025. Analysts and experts have predicted that the number of wagers will hit around $18.5bn in the first month of 2024. At this rate, they will hit their five-year profit target within the next 12 to 18 months.
It will inevitably plateau at some point, but it’ll be intriguing to see what figure it reaches before the market reaches that point.
Responsible gambling
Despite the meteoric rise in the number of gamers seeking out betting markets in Canada, it’s crucial that any provider operating in Ontario sticks to responsible gambling practices that help protect those at risk of developing an issue. Some of the warning signs to look out for include:
- Exceeding time and deposit limits
- Using money earmarked for essentials like rent and food as gambling funds
- Negative impact on friendships and relationships
- Withholding or downplaying losses
- Borrowing money to gamble
These are just a few examples. If you’re questioning whether your gambling is problematic, it’s likely that it is. You can fill out a self-assessment form, which will give you more information about how problematic your gambling is. Other tools, such as self-exclusion and cooling-off periods, are designed to minimize any issues too.
The best avenue is to reach out to a problem gambling organization that will be able to assist you and has experience in handling problem gambling. There are local organizations in Ontario, as well as internationally known organizations such as Gamblers Anonymous.
Summary
It’s a brave new world for iGaming in Ontario. As the province counts the nearly $4bn in tax revenue that iGaming has brought in since April 2022, gaming platforms are more than happy to onboard new customers and familiarize them with their sites. Fueled by the country’s love of ice hockey, this year’s Stanley Cup final led to record numbers of bets in Ontario.
Now that iGaming companies have found their feet in the Canadian market and are developing effective ideas and strategies for branching further into Ontario, it wouldn’t be surprising to see the number of new accounts rapidly grow throughout 2025, before perhaps plateauing in 2026.
DISCLAIMER: The information presented on this page/site is intended for entertainment purposes only. Please be aware that gambling entails inherent risks, and it's crucial to acknowledge this when utilizing online gambling platforms.
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