Ontario's iGaming Surge: Billions in Bets, Jobs, and GDP

Ontario's online gambling and sports betting market has exploded since legalization, with staggering revenue figures raising both economic hopes and public health concerns.

Key Takeaways:

• Ontario's iGaming market generated $63.3 billion in wagers and $2.2 billion in revenue in its second year.
• The industry contributed 15,000 jobs and $2.7 billion to Ontario's GDP.
• Experts warn of potential risks from aggressive marketing and increased gambling addiction.

Ontario's online gambling and sports betting industry has hit the jackpot, posting impressive growth figures that have surpassed even the most optimistic predictions. The province's iGaming market reported a whopping $63.3 billion in wagers and $2.2 billion in total gaming revenue for the 2023-2024 fiscal year, marking substantial increases of 78% and 75% respectively over the previous year.

These eye-popping numbers have caught the attention of industry insiders like Bill O'Brien, a sports book manager at PowerPlay. "Everyone always knew Ontario was a market with huge potential," O'Brien remarked, "But it has surpassed what anyone kind of expected it to be."

The economic impact of this burgeoning industry is equally impressive. According to a Deloitte report commissioned by iGaming Ontario, the sector contributed approximately 15,000 jobs and $2.7 billion to Ontario's GDP in just its second year of operation. O'Brien believes this is just the beginning, stating, "That's just going to get bigger and bigger."

However, the rapid growth of online gambling has not been without its critics. Bruce Kidd, co-chair of the Ban Ads for Gambling campaign, expressed concern over what he sees as an "explosion" of unregulated ads leading to increased gambling addiction. Kidd advocates for a complete ban on gambling advertisements, citing international research that links advertising to increased participation and addiction rates.

The Alcohol and Gaming Commission of Ontario (AGCO) has implemented some restrictions on internet gaming marketing, particularly aimed at protecting minors. These measures include banning the use of professional athletes and limiting the use of celebrities that appeal to younger audiences in online gambling advertising.

Nigel Turner, a scientist with the Institute for Mental Health Policy Research at the Centre for Addiction and Mental Health (CAMH), noted a "rapid escalation" in helpline calls related to online gambling following legalization. While the number of calls has since stabilized, Turner emphasized that spikes often occur during sports playoff seasons.

For those concerned about problem gambling, Turner recommends utilizing the free CAMH helpline and recovery programs. He also advises online gamblers to take advantage of limit-setting and self-exclusion features required by the AGCO on all platforms. "Use those tools, set them, and stick to it," Turner urged, warning against the common misconception of being "due to win."

As Ontario's online gambling market continues to mature, the balance between economic benefits and public health concerns remains a topic of ongoing debate and scrutiny.