KEY TAKEAWAYS
CONTENTS
Key Numbers: How Big Is Ontario’s iGaming Market?
Ontario’s regulated online gambling market, managed by iGaming Ontario (iGO), produced C$2,901.5 million in audited gaming revenue in fiscal 2024-25, the year from April 1, 2024 to March 31, 2025. Players wagered C$82,743.8 million over the same period. All figures in this article are in Canadian dollars.
The market kept growing after that. In a May 21, 2026 release, iGO reported that the market’s fourth year — fiscal 2025-26 — generated more than C$4.2 billion in gaming revenue from over C$103 billion in wagering activity. iGO labels those figures unaudited and subject to adjustment.
This article compiles the market size from iGO’s audited financial statements for fiscal 2023-24 and 2024-25, breaks it down by product, adds the unaudited fiscal 2025-26 headline, and explains why the two reporting bases should not be mixed. The figures cover games offered by operators under an iGO operating agreement; they exclude OLG’s own igaming offering and pari-mutuel horse racing. Data as of November 2026.
Wagers, Gaming Revenue and Two Reporting Bases
iGO defines its measures in its annual report:
- Wagers — the aggregate of all cash and cash equivalents collected from players to take part in eligible igames, including rake, tournament and other fees.
- Gaming revenue (audited) — wagers less winnings paid to players and less “eligible deductions”: cashable payments to players derived from promotional play funds such as free bets or bonuses, up to limits set in operating agreements.
- Operator payments — the share of gaming revenue iGO pays to operators. In 2024-25 they were C$2,327.4 million, or 80.2% of gaming revenue.
- Net gaming revenue — gaming revenue less operator payments: C$574.1 million in 2024-25.
There are two reporting bases. iGO’s monthly market performance reports publish unaudited totals, while the annual financial statements are audited and net of eligible promotional deductions. iGO’s 2026-2029 Business Plan also uses an adjusted measure (AGGR), forecasting C$3,834.2 million for fiscal 2025-26 — lower than the “more than C$4.2 billion” in the unaudited release. The audited fiscal 2025-26 figure had not been located on iGO’s site when this article was prepared.
Ontario iGaming Market Size by Fiscal Year
The table compiles the market’s size for the three most recent fiscal years, labeling each figure’s basis. Only the first two rows are directly comparable.
| Fiscal year | Wagers | Gaming revenue | Revenue as % of wagers | Basis |
|---|---|---|---|---|
| 2023-24 | C$63,275.3 | C$2,199.9 | 3.48% | Audited |
| 2024-25 | C$82,743.8 | C$2,901.5 | 3.51% | Audited |
| 2025-26 | over C$103,000 | more than C$4,200 | n/a | Unaudited, rounded |
where:
gaming revenue = audited gaming revenue for the fiscal year
wagers = audited wagers for the same fiscal year
For 2024-25: C$2,901.5 million ÷ C$82,743.8 million × 100 = 3.51%, against 3.48% in 2023-24. Because the fiscal 2025-26 figures are rounded minimums on a different basis, no ratio is calculated for that year. The market had 50 active operators at the end of fiscal 2024-25 and over 2.6 million active player accounts, according to iGO; accounts are not unique players.
Casino, Betting and Poker: Revenue by Product
Online casino dominates. In 2024-25 casino products produced C$2,189.2 million, or 75.4% of gaming revenue, from 84.2% of wagers.
| Product | Wagers 2024-25 | Revenue 2024-25 | Revenue share | Revenue % of wagers | Revenue 2023-24 |
|---|---|---|---|---|---|
| Casino | C$69,669.8 | C$2,189.2 | 75.4% | 3.14% | C$1,616.7 |
| Betting | C$11,414.3 | C$653.8 | 22.5% | 5.73% | C$523.0 |
| Peer-to-peer poker | C$1,659.7 | C$58.6 | 2.0% | 3.53% | C$60.2 |
| Total | C$82,743.8 | C$2,901.5 | 100% | 3.51% | C$2,199.9 |
Betting, which iGO defines to include sports, novelty, e-sports and proposition bets, returned the highest share of wagers as revenue: 5.73%, up from 5.37%. Casino returned 3.14% of wagers as revenue, up from 3.11%. Peer-to-peer poker revenue slipped 2.6%, the only product to shrink. Peer-to-peer bingo and betting exchange products are small and included in the totals.
Growth From 2023-24 to 2025-26
On the audited figures, gaming revenue rose 31.9% and wagers 30.8% between fiscal 2023-24 and 2024-25. (iGO’s narrative describes the wager increase as 32%; the figure here is calculated from its audited product tables.) Casino revenue grew 35.4% and betting revenue 25.0%.
where:
current year = fiscal 2024-25 audited value
prior year = fiscal 2023-24 audited value
Growth in wagers was uneven across products. Casino wagers rose 34.2%, betting wagers 17.3% and peer-to-peer poker wagers 2.2%. Because casino grew fastest, its share of gaming revenue climbed from 73.5% in 2023-24 to 75.4% in 2024-25, while betting’s share fell from 23.8% to 22.5% and poker’s from 2.7% to 2.0%. Betting revenue still grew faster than betting wagers, as its revenue-to-wagers ratio rose from 5.37% to 5.73%.
For fiscal 2025-26, the unaudited “over C$103 billion” in wagers is at least 24.5% above the audited 2024-25 total. A revenue growth rate is not calculated, because the “more than C$4.2 billion” is on a different, unaudited basis. iGO’s own business plan expects continued growth, budgeting C$4,309.0 million in adjusted gross gaming revenue for fiscal 2026-27 — a forecast, not a result.
Methodology & Limitations
Datasets. iGaming Ontario, Annual Report 2024-2025, including audited financial statements for the years ended March 31, 2025 and 2024 (note 10, gaming revenue by product); iGaming Ontario news release of May 21, 2026 (fiscal 2025-26 unaudited totals); iGaming Ontario 2026-2029 Business Plan (fiscal 2025-26 forecast and 2026-27 budget); iGO Market Performance Report page (scope notes). All accessed November 2026.
Calculations. Revenue as % of wagers = gaming revenue ÷ wagers × 100. Shares = product value ÷ total × 100. Percent change = (2024-25 − 2023-24) ÷ 2023-24 × 100. Operator share = operator payments ÷ gaming revenue × 100. The fiscal 2025-26 wager comparison uses the lower bound of C$103 billion, so the true change is at least the figure shown. Values from the statements (in thousands) were converted to millions and rounded to one decimal.
Limitations. Audited and unaudited figures use different bases, so they are not combined in growth calculations. Results are in Canadian dollars and were not converted. Active player accounts are not unique individuals. The market excludes OLG’s own igaming site and horse racing. iGO’s figures can be revised when audited statements are released.
Key Figures at a Glance
The headline Ontario igaming figures, with their period, basis and source, are collected below.
| Figure | Value | Period |
|---|---|---|
| Gaming revenue (audited) | C$2.90 billion | FY 2024-25 |
| Wagers (audited) | C$82.74 billion | FY 2024-25 |
| Revenue growth | +31.9% | FY 2024-25 vs. 2023-24 |
| Casino share of revenue | 75.4% | FY 2024-25 |
| Revenue as % of wagers | 3.51% | FY 2024-25 |
| Gaming revenue (unaudited) | more than C$4.2 billion | FY 2025-26 |
| Active operators | 50 | End of FY 2024-25 |
Related Data
For another national regulator’s market figures, see Great Britain gambling market size for 2025-26. The U.S. picture is in U.S. commercial gaming market size by year. For regulated online casino results in three U.S. states, read the online casino revenue per resident analysis.
Frequently Asked Questions
Sources & References
- iGaming Ontario — Annual Report 2024-2025 and audited financial statements, fiscal years 2024-25 and 2023-24 (accessed November 2026)
- iGaming Ontario — News release, May 21, 2026, fiscal 2025-26 market totals (accessed November 2026)
- iGaming Ontario — 2026-2029 Business Plan, fiscal 2025-26 forecast and 2026-27 budget (accessed November 2026)
- iGaming Ontario — Market Performance Report, scope notes (accessed November 2026)
