Ontario iGaming revenue passed 4.2 billion CAD in the market’s fourth year, produced from more than 103 billion CAD in wagers. iGaming Ontario published those totals for the period from 1 April 2025 to 31 March 2026. This guide sets out the revenue by fiscal year and the split across casino, betting and poker. It also explains why two different figures circulate for the same period, and what an operator keeps once the 20 percent share is paid.
Key takeaways
- Reporting bodies: iGaming Ontario (iGO) publishes market performance data; the Alcohol and Gaming Commission of Ontario (AGCO) registers the operators
- Year four (1 April 2025 to 31 March 2026): over 103 billion CAD wagered and over 4.2 billion CAD in gaming revenue
- Year three (2024-25): 82.7 billion CAD wagered and 2.9 billion CAD in audited gaming revenue
- Casino products generated 2.2 billion CAD, or 75 percent of gaming revenue, in 2024-25
- Operators keep 80 percent of gaming revenue; iGO retains 20 percent for the province
- Scope: the figures exclude OLG’s own igaming offering and pari-mutuel wagering on horseracing
The market’s fourth year in numbers
The Ontario market completed its fourth year on 31 March 2026. Over that period players wagered more than 103 billion CAD. Operators produced more than 4.2 billion CAD in gaming revenue. iGaming Ontario released those figures on 21 May 2026 and labelled them unaudited. The audited position for Ontario iGaming revenue follows in the annual report and financial statements, which iGO usually publishes later in the year.
In practice, two bodies stand behind the numbers. iGaming Ontario conducts and manages the market, and it collects the revenue before paying operators their share. The AGCO registers each operator and each gaming-related supplier. The Ontario iGaming licence requirements set out what that registration involves. If the two-part structure is new to you, our guide to iGaming Ontario registration and fees explains how the two approvals fit together.
Ontario iGaming revenue by fiscal year
The market reports on an Ontario government fiscal year, so each period runs from 1 April to 31 March. That matters when you compare Ontario iGaming revenue figures, because many published summaries use calendar years instead. The table below sets out the two most recent fiscal years from official iGaming Ontario reporting.
| Fiscal year | Total wagers | Gaming revenue |
|---|---|---|
| 2024-25 (year three) | 82.7 billion CAD | 2.9 billion CAD (audited) |
| 2025-26 (year four) | over 103 billion CAD | over 4.2 billion CAD (unaudited) |
Year three grew 32 percent on wagers and 31 percent on revenue against the year before it. Growth came from two sources. First, the operator count rose from 12 at launch in April 2022 to 50 active operating agreements at 31 March 2025. Second, most of those operators traded for a full twelve months rather than a partial year. You can check each month against the iGaming Ontario market performance report, which iGO updates monthly.
Where the revenue comes from: casino, betting and poker
Casino products drive Ontario iGaming revenue. In 2024-25 online casino play produced 2.2 billion CAD, betting produced 654 million CAD, and peer-to-peer poker produced 59 million CAD. Betting here covers sports, novelty, e-sports and proposition wagers. Peer-to-peer bingo and betting exchange products contributed smaller amounts, so they sit inside the same totals.
| Product line | Gaming revenue 2024-25 | Share of revenue |
|---|---|---|
| Online casino | 2.2 billion CAD | 75 percent |
| Betting | 654 million CAD | about 22 percent |
| Peer-to-peer poker | 59 million CAD | about 2 percent |
The wagering split runs differently from the revenue split. Casino accounted for 84 percent of wagers in 2024-25 and betting for 14 percent, because casino games recycle stakes at a low hold rate. So handle figures overstate casino’s commercial weight, while revenue figures show it accurately. Betting revenue still grew 25 percent year on year, and poker fell slightly.
Why two different revenue figures circulate
Search for Ontario iGaming revenue and you will find two numbers for the same fiscal year. For 2024-25, figures of around 3.2 billion CAD appeared widely, while the iGaming Ontario financial statements record 2.9 billion CAD. Both come from iGO, and neither is wrong. They sit on different bases.
The monthly market performance report publishes unaudited totals that iGO flags as subject to adjustment. The audited accounts measure gaming revenue as wagers less winnings paid to players, less eligible deductions. Those deductions include cashable payments derived from promotional funds such as free bets, up to limits set in each operating agreement. In short, the audited figure is net of promotional cost that the market report figure is not.
Two practical points follow. When you benchmark a business case, use one basis throughout rather than mixing the two. And when a data source quotes a calendar year, do not compare it directly against a fiscal year total. Our guide to how operators report gaming revenue covers the same distinction inside an operator’s own accounts.
What operators keep from Ontario iGaming revenue
Published totals are gross figures for the whole market. An individual operator sees a smaller number. iGO holds the revenue and remits 80 percent back as variable compensation under the operating agreement, while the remaining 20 percent stays with the province. The table below traces the 2024-25 figures through that split.
| Line | Basis | 2024-25 |
|---|---|---|
| Total wagers | Amounts staked by players | 82.7 billion CAD |
| Gaming revenue | Wagers less winnings and eligible deductions | 2.9 billion CAD |
| Operator payments | 80 percent returned to operators | about 2.3 billion CAD |
| iGO net gaming revenue | 20 percent retained by the province | 574 million CAD |
That 2.3 billion CAD is what the market kept before any of its own costs. Out of it come the 100,000 CAD annual AGCO fee for each gaming site, platform and content fees, payment costs, marketing, staff and testing. Corporate income tax then applies at federal and Ontario level. So the 20 percent share of Ontario iGaming revenue is not the end of the tax picture. Our Ontario iGaming tax breakdown sets out the HST mechanism and the corporate rate that apply on top. Our breakdown of gaming tax and corporate tax rules explains how those charges sit alongside a revenue share.
Player accounts and channelization
Ontario iGaming revenue tracks player behaviour, and the province measures both. In 2024-25 the market recorded 2.6 million active player accounts. Those are accounts with cash or promotional wagering activity in the period. The count is not a count of individuals, because one person may hold accounts with several operators.
Channelization shows how much online play sits inside the regulated market. An Ipsos study commissioned by the AGCO and iGaming Ontario reported 91.1 per cent of surveyed online gamblers playing on regulated sites after year four. That figure stood at 83.7 per cent a year earlier. Players reporting only unregulated play fell to 8.9 per cent. The full result sits in the AGCO Ipsos channelization study.
What the province collects from the market
The province’s 20 percent share of Ontario iGaming revenue does not all reach the treasury as profit. In 2024-25 iGO recorded 574 million CAD of net gaming revenue and 219 million CAD of net income. It then paid dividends of 181 million CAD to the Province of Ontario. So costs sit between those figures.
The largest single cost is tax on the operator payments. Operator payments attract a 13 percent GST or HST obligation for iGO. That expense totalled 304 million CAD in the year and went to the Canada Revenue Agency. Revenue sharing with the Ontario First Nations (2008) Limited Partnership added 41.45 million CAD, up 73 percent on the prior year. Salaries and benefits came to 13.7 million CAD across a headcount of 91. The full statements sit in the iGaming Ontario annual report for 2024-25.
What the revenue data means for market entry
Market totals are useful for sizing, but they are not a forecast for a single brand. Divide the 2024-25 figure across 50 active operating agreements and the average is about 58 million CAD per operator. Roughly 46 million CAD of that stays with the operator. Still, the average hides a wide spread, because a small group of established brands takes a large share of casino play.
Two assumptions deserve testing before you commit. The first is your expected hold on casino volume, since casino drives 75 percent of Ontario iGaming revenue. The second is your promotional spend, because eligible deductions reduce reported revenue only up to the limits in the operating agreement. Exits happen as well as entries. iGO reported working with a small number of operators during 2024-25 to close their gaming websites in an orderly way. When the entry case turns on those assumptions, a short consultation beats another round of market data. Our team can price how to apply for a gaming licence in Ontario alongside the model.
What the Ontario figures do not cover
The published totals cover eligible games offered by operators under an iGO operating agreement. So they exclude the Ontario Lottery and Gaming Corporation’s own igaming offering, and OLG.ca sits outside every figure in this guide. Pari-mutuel wagering on horseracing is also excluded.
Geography also limits the numbers. An Ontario registration authorises play by users located in Ontario, so reported Ontario iGaming revenue comes from that province alone. Other provinces run their own frameworks, and Alberta has legislated a separate private market that will require its own registration. Now that the Alberta market is live, our breakdown of the Alberta market revenue split sets out its first-year projections. Operators serving several markets file separately in each, and accounting and audit support keeps those figures split by jurisdiction from the first month. Obligations to the AGCO also continue throughout the registration term, which is where ongoing compliance support matters after launch.
Reading the Ontario numbers before you commit
Ontario iGaming revenue reached over 4.2 billion CAD in year four, and 80 percent of that stayed with operators under their iGO agreements. Before you model an entry, confirm which basis your source uses, audited or market report. Then check the fiscal period it covers. For a costed Ontario entry plan built on your own volume and hold assumptions, contact the DD Consultus advisory team at contact@licencegaming.com or +356 99408536.
Frequently asked questions
How much revenue does the Ontario igaming market generate?
Operators produced more than 4.2 billion CAD in gaming revenue from over 103 billion CAD in wagers during the fiscal year ending 31 March 2026. iGaming Ontario published those figures on 21 May 2026 and flagged them as unaudited. The audited totals appear in the agency’s annual financial statements.
What was Ontario iGaming revenue in 2024-25?
The audited financial statements record 2.9 billion CAD of gaming revenue from 82.7 billion CAD in total wagers. Both figures rose by more than 30 per cent against 2023-24. iGaming Ontario held 50 active operating agreements at 31 March 2025.
How much of the revenue do operators keep?
Operators receive 80 percent of gaming revenue as variable compensation under the iGO operating agreement, and the province retains 20 percent. In 2024-25 that returned about 2.3 billion CAD to operators and left 574 million CAD as iGO net gaming revenue. Federal and Ontario corporate tax still apply to the operator on top.
Why do published Ontario revenue figures differ?
The monthly market performance report publishes unaudited totals, while the annual financial statements report gaming revenue after eligible deductions such as cashable promotional payments. For 2024-25 the two bases produced roughly 3.2 billion CAD and 2.9 billion CAD. Use one basis throughout any comparison.
Which products generate the most revenue in Ontario?
Online casino produced 2.2 billion CAD in 2024-25, or 75 percent of gaming revenue. Betting followed at 654 million CAD and peer-to-peer poker at 59 million CAD. Casino also accounted for 84 percent of wagers, and betting revenue grew 25 percent year on year.
How many operators are active in the Ontario market?
iGaming Ontario held 50 active operating agreements at 31 March 2025, against 49 a year earlier and 12 at launch in April 2022. Each operator also holds an AGCO registration, and gaming-related suppliers register in their own class. The AGCO and iGO publish the current lists.
How much does Ontario collect from the igaming market?
iGO recorded 574 million CAD of net gaming revenue in 2024-25 and paid 181 million CAD in dividends to the Province of Ontario. GST and HST on operator payments came to 304 million CAD. Revenue sharing with the Ontario First Nations (2008) Limited Partnership added 41.45 million CAD.
Do the figures include OLG and horseracing?
No. iGaming Ontario reports only eligible games offered by operators under an iGO operating agreement. The Ontario Lottery and Gaming Corporation’s own igaming offering and pari-mutuel wagering on horseracing both sit outside the published totals.