The operators in the Canadian state pulled in CA$329 million in non‑adjusted gross gaming revenue, marking the sixth month in a row above CA$300 million.
This marks one of the most profitable months since Ontario’s regulated iGaming market launched in April 2022, and although the numbers for October haven’t been out yet, it’s almost sure that the increase will continue.
What Is Behind The September Spike?
The growth appears to be a surge in online casino activity, which accounted for 86% of total wagering and 84.4% of operator revenue. Casino operators accounted for CA$7.34 billion of September’s handle.
Sports betting followed with CA$1.06 billion, while peer-to-peer poker contributed only CA$144 million. So far, sports betting and poker have been the kings of betting in Ontario. Analysts attribute the shift to the combination of seasonal demand and stronger mobile engagement.
Local players abandon the traditional brick-and-mortar casinos and look online for immersive betting experiences.
How Does Revenue Climb As The Average Spend Decreases?
An essential finding of the last few months is that, despite record wagers and revenue, month after month, the average spend decreases. In August, the active accounts were around 1.016 million, and in September, the number jumped to 1.2 million.
Despite this spike and the new record high for the Ontario market, the average revenue per account declined to CA$282, down from CA$330 in August. This indicates that probably a broader base of players placing smaller, more cautious bets.
Industry analysts describe this as a “maturing market” effect: engagement is deepening among casual users, and heavy-spending players now account for a smaller share of total activity.
What Does This Mean For The Market Going Forward?
For operators, the data underscores the strength of the online casino industry, but it also raises questions about the fall in average spend per player. Can the market keep growing if it depends more on a broader base of light or mid‑tier players?
On the regulatory side, the high number of active accounts suggests deep market penetration and firm trust in the betting platforms. However, lower average revenue per user may force regulators and operators to double down on engagement strategies. Loyalty programs and targeted promotions should be carefully managed to mitigate the risk of problem gambling.
Ultimately, for the Ontario iGaming market, September’s performance paints a picture of a growing and maturing market. It only remains to see how and how much each player will be betting in the near future.
