Ontario Online Gaming Boom Soars to New Revenue Peak
Posted on: December 17, 2025, 03:31h.
Last updated on: December 17, 2025, 03:31h.
- Cash wagers hit record CAD $9.33 billion in Ontario for November
- Sports betting sees big bump in revenue
- Market should see further jump in 2026 as international liquidity issue sorts out and poker market opens up
The President and CEO of iGaming Ontario, Joseph Hillier, spoke with us yesterday in his office about the “robust undertones of what makes the market the market,” looking at revenue numbers, and today’s release of November’s financial data for the igaming market only bolsters that.
Total cash wagers for November, at CAD $9.33 billion, set another record for the province, up one per cent from the previous high set last month. Total non-adjusted gross gaming revenue (NAGGR) also set a record, at CAD $406.2 million, a big 10% jump from October.
Active player accounts were up one per cent month over month, at 1,297. And the average revenue per active player account was CAD $313, a 10% increase from October.
Nearly 50 Operators
The Ontario market currently has 48 licensed operators, with 82 live online gaming sites.
“I think we can expect to see more [operators] join the sector in 2026 as the market matures,” said Hillier. “I suspect some joining, maybe some departures. We’ve had some recent entrants even come in, some of the smaller folks, and they’ve really thrived and succeeded here. That’s a sign that this is a market you can compete in.”
The online casino segment in the private, regulated market continued to dominate – CAD $7.95 billion in total wagers (85% market share), a one per cent increase from October, while sports betting came in at CAD $1.25 billion in cash wagers (2% month over month increase), for a 13% market share. P2P poker came in a CAD $129 million in cash wagers (a one per cent drop from October), for a one per cent market share.
On the revenue side, online casino scored CAD $298 million in revenue in November (a 2% month-over-month decrease), for a 73% market share. Sports betting came in at CAD $102 million, a massive 75% increase from October, for a 25% market share. P2P poker was at CAD $6.3 million in revenue in November, an 11% increase from October, for a 2% market share.
Sports Betting Revenue Sees Dramatic Jump
In November, the Ontario Court of Appeal, in a 4-1 ruling, decided that Ontario can legally offer international liquidity — a ruling that will shake up the igaming industry in the province.
The legal question for the court was whether legal online gaming and sports betting remains lawful under the criminal code if its users were permitted to participate in games and betting involving individuals outside of Canada. Players in other Canadian provinces and territories can’t take part in games or betting unless there are interprovincial agreements that allow it.
We are looking at opportunities for growth as well,” Hiller told us. “Obviously, liquidity is something we’re paying close attention to, not just on an international scale, but also inter-provincially. Folks talk about Alberta quite a bit. I think there are opportunities there.
“What I’m looking to do is really align ourselves as business partners for our operators, and how we can make sure we’re creating an environment where they can compete and innovate, and that we are being low burden and right touch on them as well, and similarly, on providing the right supports for our players, too. Those are the things that are going to drive us in terms of success for next year.”
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