Ontario’s Regulated iGaming Market Records $4B Year in 2025

Ontario’s regulated online gambling market delivered its strongest annual performance since launch, closing 2025 with more than $4 billion in non-adjusted gross gaming revenue and nearly $100 billion in total wagers. Updated full-year figures show continued expansion across online casino gaming, sports betting, and peer-to-peer poker, reinforcing the province’s position as the most competitive regulated iGaming market in North America by operator count.

Across the full calendar year, players wagered approximately $98.3 billion on licensed platforms, marking a 26% increase compared with 2024. Revenue before tax reached $4.0 billion, reflecting year-over-year growth of 34%. These figures complete the year-end picture for 2025 and confirm that the market sustained momentum well beyond its initial growth phase.

Because the reported revenue figures are calculated before Ontario’s 20% iGaming tax is applied, estimated provincial tax receipts for the year total roughly $807 million. Operators retained about $3.2 billion after tax. Since the regulated market opened in April 2022, cumulative operator revenue has reached approximately $10.2 billion, translating into an estimated $2.04 billion in total tax revenue for the province over that period.

Record monthly performance closes out the year

Ontario finished 2025 with new monthly records across several key indicators. December alone generated $9.5 billion in wagering activity, the highest single-month handle since regulation began. Monthly revenue also set a new high at $425.4 million.

Compared with December 2024, wagering activity increased by 21.5%, while revenue rose by 57.3%. Growth accelerated during the final quarter of the year, with monthly handle surpassing $9 billion in October, November, and December. Revenue followed a similar trajectory, exceeding $400 million for the first time in November before climbing further in the final month of the year.

Player activity and monetization metrics also improved. Ontario ended 2025 with 1.267 million active player accounts. Although that total dipped slightly from late-year peaks, it still represented a 24.5% increase compared with the prior year. Average revenue per active player account reached $334, the highest level recorded since the market launched and a 27% increase year over year.

Casino gaming drives the bulk of wagering and revenue

Online casino gaming continued to underpin Ontario’s iGaming economy throughout 2025. In December, casino wagers accounted for nearly $8.3 billion of the $9.5 billion total handle, representing 87% of all wagers placed during the month. Over the course of the year, casino’s share of handle never fell below 83% and climbed as high as 89% in July and August.

Revenue distribution followed a similar pattern. Online casino products generated $320.5 million in December, accounting for 75% of the month’s total revenue. For the full year, casino gaming produced more than $3.1 billion in non-adjusted gross gaming revenue, confirming its role as the primary revenue engine within the regulated market.

Sports betting and poker trends

Sports betting represented a smaller share of overall activity but showed notable revenue gains toward the end of the year. Monthly sports wagering remained close to $1 billion, making up 11% of total handle in December. Over the full year, Ontarians placed more than $12 billion in sports wagers.

December’s sports betting handle reached $1.09 billion, down 4% compared with December 2024. Revenue, however, told a different story. Sports betting generated $102 million in revenue in November and $99.1 million in December, the two highest monthly totals for the segment in 2025. December revenue was 150% higher than the same month a year earlier, supported in part by outcomes across major sports leagues.

Peer-to-peer poker remained a limited contributor to overall market activity. December wagering totaled $141 million, with revenue of $5.8 million. Both figures represented roughly 1.4% of the total market and reflect the segment’s restriction to Ontario-based liquidity.

Operator landscape and market outlook

By late January 2026, Ontario had 48 licensed private iGaming operators running a combined 82 gaming sites, excluding the provincially operated platform, which reports results separately. The operator mix shifted during 2025, with Golden Nugget Online Casino entering the market under DraftKings’ separate casino brand, while Fitzdares, Betiton, MagicRed Casino, and the Wildz group exited the province.

The number of active operators could rise again in 2026. DAZN has received approval to launch DAZN Bet, while Absolutebet has secured a licence but has yet to go live. High Roller Technologies also has an application under review.

Ontario’s continued growth comes as Alberta prepares to introduce its own competitive iGaming framework, setting the stage for a broader regulated online gambling footprint across Canada in 2026.

Source:

Ontario’s Regulated iGaming Sector Reaches $4B in 2025, casinoreports.ca, February 2, 2026