The Canadian Betting Market: Key Insights of 2024

The year 2024 marked a significant milestone for Canada’s betting industry. The country witnessed major legislative changes, continued rapid market growth, new standards, and high-profile events that captured the attention of professionals and the general public.

We’ve already covered some of the most important news, such as the introduction of updates to AGCO advertising guidelines. However, this was insufficient to provide a complete picture. That’s why we have compiled this digest to summarize the past year’s key developments.

Ontario’s iGaming experiences rapid growth

2024 was a successful year for this market. The province demonstrated steady growth with 50 licensed operators as well as 82 sites. According to the latest performance report for the 2nd quarter of 2024-2025, the market continues to solidify its position.

During the reporting period, the total amount wagered reached $18.7 billion (excluding promotional bets). This represents a 1.6% increase compared to the previous 3 months and a 31.7% rise year-over-year. Gaming revenue for the 2nd quarter amounted to $738 million, reflecting a 1.7% increase over the 1st quarter and a 35.4% improvement compared to the same period last year.

Furthermore, a Deloitte study presented at the Canadian Gaming Summit revealed that Ontario’s gaming market supports nearly 15,000 jobs and generates $1.24 billion in revenue for various levels of government.

In April 2024, an IPSOS study conducted by the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario (iGO) was published. According to the data, 86.4% of local players used licensed platforms in 3 months before the survey. This is an improvement compared to the 85.3% figure for the same period in 2023.

Prior to the legalization of single-game betting, approximately 70% of all online wagers were placed on gray platforms. Now, the overwhelming majority of players prefer licensed betting sites, reflecting increased trust in the system and the effectiveness of its regulation. However, some local operators continue to face challenges.

Alberta opens its gaming market

In 2024, discussions about launching commercial iGaming moved from the conceptual stage to concrete actions. In March, as part of the provincial budget, the Gaming, Liquor and Cannabis Act was revised, and in June, Dale Nally officially unveiled a plan to create an open market at the gaming summit. While discussions with stakeholders began over the summer, hopes for a launch by the end of 2024 proved unrealistic.

A pivotal moment came in May 2024 when the Alberta Legislature passed Bill 16. This legislation formally established the local government’s authority to regulate gaming operations independently of Alberta Gaming, Liquor and Cannabis (AGLC). This move paved the way for third-party bookmakers to enter the market and offer their services alongside the AGLC’s Play Alberta platform.

Many operators, such as PointsBet Canada and NorthStar, have already expressed interest in entering the market once it becomes accessible. However, the process has faced challenges and delays. Despite these setbacks, experts anticipate the market will be operational by mid-2025.

Former NBA player receives lifetime ban for sports betting scandal

In 2024, the NBA intensified its efforts to combat gambling-related violations. One of the most high-profile scandals involved former Toronto Raptors forward Jontay Porter, who was handed a lifetime ban in April for breaching league rules.

According to court findings, Porter provided insider information to a group of accomplices to settle his gambling debts. These individuals allegedly convinced him to leave certain NBA games prematurely to influence betting outcomes.

The scheme netted the accomplices over $1.2 million in profits. However, suspicious activity was flagged by bookmakers, who reported it to the NBA and the International Betting Integrity Association. Following an investigation, the league decided to impose a lifetime ban on Porter.

The basketball player admitted to conspiring to commit wire fraud in federal court in New York. He now faces up to 20 years in prison, with his sentencing scheduled for January 2025.

iGaming Ontario to become an independent agency in 2025

The province is preparing for significant changes in the management of the gambling market. Until now, iGO has operated as a subsidiary of AGCO. However, as part of the measures outlined in the 2024 fall budget, the iGaming Ontario Act was passed, ending this arrangement.

Starting in 2025, iGO will function as a fully independent agency governed by a board of directors. This change aims to eliminate potential conflicts of interest previously noted by the auditor general.

Separating iGO from AGCO is seen as a logical step to mitigate conflicts of interest and foster fairer competition in the market. A representative from the Ministry of the Attorney General emphasized that this measure enhances transparency and regulatory efficiency within the province’s gaming industry.

Stay informed on the latest betting news in Canada by visiting our blog regularly. We’ll continue to provide the most relevant information!

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