Ontario iGaming Tops C$4B in 2025, Surpasses C$10B Since Launch

The past year set new monthly records for wagering, revenue, and player spending as the province’s competitive model continued to scale.

Monthly handle reached an all-time high of C$9.5 billion in December. Meanwhile, the monthly non-adjusted gross gaming revenue (NAGGR) reached a record C$425.4 million ($314.3 million).

The results capped a year in which nearly every core metric surpassed prior highs.

Full-Year 2025 Performance by Segment

Each vertical posted meaningful year-over-year growth.

Casino Continues to Drive the Market

Casino remained the dominant engine of the market. Total revenue for 2025 was C$3.153 billion, up 40% from 2024. Online casinos accounted for roughly 75% of the total market revenue.

Monthly revenue climbed steadily, ending at a record C$320.5 million in December. Casino wagers routinely accounted for over 85% of all handle, underscoring the segment’s structural advantage in a mature iGaming ecosystem.

Sports Betting Posts Solid Gains

Sports betting posted a volatile but stronger year, benefiting from major sports calendars and higher-margin months late in the year.

Total revenue for 2025 was C$814.9 million, up by 18.6% from 2024. The segment accounted for around 20% of total market revenue. In November, revenue exceeded C$100 million, marking one of the best months for the segment since the 2022 launch.

While monthly swings remained common, the segment finished well above 2024 levels and showed improved monetization during peak events.

Poker Remains a Niche Segment

Poker continued to play a niche role. In 2025, the segment brought in C$70.2 million, up 3.7% year over year. Poker had less than 2% market share.

Player Spend Also Hit Records

Player monetization improved alongside revenue. Active accounts rose from 1.03 million to 1.28 million year over year (+25%), while average revenue per active player account (ARPPA) increased from C$263 to a record C$334 (+27%).

The figures indicate both broader participation and higher per-player spend.

Growth Since Regulation: From $1B Months to $9.5B Months

Ontario’s trajectory since launch illustrates how quickly the competitive model scaled.

When the market opened in April 2022:

• Monthly handle was just C$1.1B
• Monthly revenue sat below C$60M

By late 2025:

• Monthly handle reached C$9.5B
• Monthly revenue exceeded C$425M

Summing every month since launch shows the province has now generated more than C$10 billion in total regulated iGaming revenue since April 2022.

In other words, Ontario has built a 10-figure online gaming market in less than four years, placing it among the largest regulated iGaming jurisdictions in North America.

How Does Ontario Compare to US iGaming States?

When converted to U.S. dollars, Ontario’s roughly $3 billion in 2025 revenue trails leading U.S. iGaming states such as Pennsylvania, New Jersey, and Michigan.

Pennsylvania:

• iGaming; $3.46 billion (est.)
• Sports betting: $839.0 million (est.)
• Total: $4.30 billion (est.)

New Jersey:

• iGaming: $2.91 billion
• Online sports betting: $1.15 billion
• Total: $4.06 billion

Michigan:

• iGaming: $3.09 billion
• Online sports betting: $671.2 million
• Total: $3.76 billion

Notably, all three states have a lower population than Ontario.

Editor’s note: Pennsylvania reports gaming revenue using multiple definitions and timeframes, including gross revenue, adjusted/taxable revenue, and fiscal-year totals. Figures cited here use gross, calendar-year revenue for consistency with Ontario’s reporting methodology.

In addition, the state does not separate online and retail sports betting in its reporting, so the above figure is an estimate.

Alberta Preparing to Launch Next

Ontario’s record year comes as Alberta moves closer to launching its own regulated online gaming market, positioning itself to become only the second Canadian province to adopt a competitive, multi-operator framework.

Lawmakers passed the iGaming Alberta Act last year, establishing a structure similar to Ontario’s model and allowing private sportsbooks and online casino operators to enter the market alongside the province’s existing government-run platform.

Regulators have since begun accepting operator applications and publishing standards, with a launch targeted for later this year, potentially ahead of the fall football season.

If Alberta follows Ontario’s trajectory, the move could create a second major provincial market for operators and further expand Canada’s regulated online wagering footprint heading into 2026.