In Canada’s online gambling market, the Ontario iGaming sector is looking increasingly stable after recording its second-highest non-adjusted gross gaming revenue (NAGGR) figures, while also showing considerable year-on-year growth in Total Wagers and Gross Gaming Revenue (GGR).
However, Ontario only has a population of 16,182,641 according to statcan.gc.ca.
It’s not as large as markets like the UK, where the population of the country is over 63 million, with around 20 million people of people who gamble. It is also worth noting that the UK’s 2024–2025 financial year Online Gross Gambling Yield (GGY) reached £1.45 billion.
If Ontario’s iGaming sector matched the UK’s 2024–2025 online gambling Gross Gambling Yield (GGY) on a per capita basis, its estimated annual Gross Gambling Revenue (GGR) would be approximately CA$2.34 billion.
This figure suggests that Ontario still has significant room for growth, but we want to verify that this is indeed the case.
We’re going to take a very brief look at statistics, such as the NAGGR, GGR, Total Wagers, and last year’s quarterly stats, to see if Ontario’s iGaming market still has room for growth in this bite-sized Ontario online gambling news piece.
Second-Highest NAGGR Recorded by iGaming Ontario in Four Years
iGaming Ontario reported that the total non-adjusted gross gaming revenue (NAGGR) for iGaming and online sports betting reached CA$313.3 million in April 2025, the latest month available.
Figures for February and March were lower, published as CA$ 280 million and CA$ 294.8 million, respectively.
January 2025 saw the highest NAGGR since the introduction of iGaming Ontario (iGO) licensing by the Alcohol and Gaming Commission of Ontario (AGCO). The total reported revenue was CA$ 328.44 million.
What this tells us is that Canada’s Ontarian online gambling market is at its saturation point.
The online gambling entertainment market in the province continues to produce record-breaking numbers in some months. Still, we are not seeing the same growth we’ve been experiencing month-on-month since the official Ontario online gambling market launched in 2022.
Things have slowed down somewhat, with 2025’s average NAGGR currently at CA$ 304.1 million after just four months (January to April). However, we must bear in mind that iGaming Ontario records its year-on-year revenue statistics starting in April, as Ontario’s online gambling officially opened in April 2022.
According to official statistics, using April as the first month of the year, the current average for 2025 only includes April’s statistics, which then yields a CA$ 313.3 million average. This is not a great indicator to support our theory of a plateaued market. We’ll need to wait for further revenue reports.
Ontario’s Current Online Gambling Market
Currently, iGaming Ontario has recorded statistics from 49 online casinos and sports betting sites operating under its provincial licensing authority. At the end of April 2025, statistics show that there are currently 1.09 million players in the province with active accounts at Ontario online gambling accounts.
Although many of the sites offer both casino gaming and sports betting, the iGO separates the NAGGR for each gambling vertical, which is beneficial because it allows us to examine how this statistic compares across sportsbooks and casinos for 2025.
| Month | Total NAGGR | Casino Revenue | Sports Betting Revenue | Poker Revenue |
|---|---|---|---|---|
| January 2025 | CA$328.4 million | CA$248.2 million | CA$72 million | CA$8.2 million |
| February 2025 | CA$280 million | CA$214 million | CA$62 million | CA$5 million |
| March 2025 | CA$294.8 million | CA$240.3 million | CA$47.9 million | CA$6.6 million |
| April 2025 | CA$313.3 million | CA$246 million | CA$61 million | CA$6.3 million |
Table Summary: From January to April 2025, online casino entertainment revenue has remained stable and is the dominant contributor to Ontario’s monthly NAGGR, averaging around 76% of total revenue. In contrast, sports betting and poker revenues show greater month-to-month variability, which tells us that the casino vertical is the key driver in the Ontarian online gambling market.
Ontario iGaming Financial Year 2024 Vs 2025 Stats
We have also pulled the statistics to compare the financial performance of the last two years in the Ontario iGaming market, looking for clues as to whether growth in the market has reached its limit. As expected, from these statistics, we can’t support our claim that the Ontario market is reaching a point of stagnation. The reason we would give for this is that 2024 and 2025 have both been key years for growth.
| Metric | FY 2023–24 (Apr 2023–Mar 2024) | FY 2024–25 (Apr 2024–Mar 2025) | % Change |
|---|---|---|---|
| Total Wagers | CA$63.0 billion | CA$82.7 billion | +31% |
| Total Revenue (GGR) | CA$2.4 billion | CA$3.2 billion | +32% |
| Casino Revenue | CA$1.8 billion | CA$2.4 billion | +36% |
| Sports Betting Revenue | CA$588 million | CA$724 million | +23% |
| Poker Revenue | CA$67 million | CA$66 million | -1.5% |
| Record Quarter (Revenue) | CA$690 million (Q4) | CA$903 million (Q4) | +30.7% |
Only online poker has shown a decline in revenues over the past two years, and we believe there is likely no more room for growth in the vertical. Although we will not be able to confirm this statement as ‘fact’ for another 11 months when the 2026 financial years are published.
Comparing Quarterly Revenue Stats
If we examine the quarterly revenue statistics, we can see that, quarter-on-quarter, Ontario’s total gaming revenue continues to grow consistently. Additionally, when comparing the UK market, there is room for growth, possibly up to CA $2.34 billion, as mentioned in the introduction. However, we have to take into account many variables, as the UK and Ontario online gambling entertainment markets differ slightly.
For one, Ontario allows players to sign up with overseas gambling sites operating under the Malta Gaming Authority and Curacao Gaming Control Board (GCB) licensing. At the same time, the UK forbids overseas gambling sites offering British players online gambling services. With that said, iGaming Ontario does try to discourage players from using overseas websites to gamble and tries to prevent these sites from offering gambling services to Ontarians.
Another variable is that neither the UKGC nor the iGO licenses online gambling sites that accept cryptocurrency. It is cryptocurrency gamblers who will lose in both markets. However, we do not have the answer to how much this is affecting Ontario’s mark.
| Fiscal Year | Quarter | Total Wagers | Total Gaming Revenue |
|---|---|---|---|
| 2023–24 | Q1 (Apr–Jun 2023) | CA$14.0 billion | CA$545 million |
| 2023–24 | Q2 (Jul–Sep 2023) | CA$14.2 billion | CA$545 million |
| 2023–24 | Q3 (Oct–Dec 2023) | CA$17.2 billion | CA$658 million |
| 2023–24 | Q4 (Jan–Mar 2024) | CA$17.8 billion | CA$690 million |
| 2024–25 | Q1 (Apr–Jun 2024) | CA$18.4 billion | CA$726 million |
| 2024–25 | Q2 (Jul–Sep 2024) | CA$18.7 billion | CA$738 million |
| 2024–25 | Q3 (Oct–Dec 2024) | CA$22.7 billion | CA$825.8 million |
Our final thoughts: After looking at the small selection of stats we have available to us, in our opinion, Ontario’s iGaming market has plenty of growth left. Whether that means new operators have room to enter as a new brand is another matter, as the current contingent of brands has firmly established itself. We’ll keep you posted with more stats in future reports.
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