Most Profitable Month Ever for Ontario Sportsbooks

Posted on: February 25, 2025, 03:48h. 

Last updated on: February 25, 2025, 03:51h.

Mark Keast Read More
Expertise: Canadian Gaming, iGaming, Las Vegas, Sports Betting, NFL, Boxing, UFC.
  • Sportsbooks generate CAD $91.9 million in gaming revenue in January
  • Highest revenue-generating sportsbook month ever
  • Casino still dominates the market

Industry observers can get a closer look at the Ontario igaming market now that iGaming Ontario is releasing monthly financial snapshots as opposed to quarterly statements. And what they saw in January raised some eyebrows.

RSI Ontario
Ontario sportsbooks had their biggest month for revenue yet in January. (Image: Getty Images)

Record-Setting Month in Ontario

Ontario’s sportsbooks enjoyed their profitable month in the history of the province. 

The Ontario market, currently with 50 operators and 84 licensed gaming websites with activity, saw CAD $7.83 billion in total wagers in January (up from CAD $7.81 billion in December), and CAD $327.9 million in total non-adjusted gross gaming revenue, a 22% month over month increase (CAD $269.3 million in December).

What Kind of Impact Will Super Bowl Betting Have?

But it was in sports betting where the market saw some notable increases: CAD $1.182 billion in wagers (15% market share, 4% increase from December), and CAD $91.9 million in gross gaming revenue (28% market share, and a whopping 134% month over month increase). That was 17.1% higher than the previous record for sports betting revenue, set in November 2024.

Remember, that GGR number came in at just under CAD $1.2 billion in handle, so it will be interesting to see the impact Super Bowl had on the betting market when those February numbers come in in a few weeks.

iGaming Ontario is now releasing financial reports for the province every month as opposed to quarterly reports. Image/iGaming Ontario screenshot.

Casino Still Dominates

Active player accounts were up last month – 1.105 million, from 1.025 million the previous month.

Casino dominates the Ontario market, at CAD $6.5 billion in cash wagers (83% market share, 0% month over month increase), and CAD $230.4 million in revenue (70% market share, 3% month over month increase).

Poker Remains Static

Not a big change in poker revenue for the month. Peer to peer poker was at CAD $146 million in cash wagers (2% market share, and a 3% month over month increase), and CAD $5.6 million in revenue (2% market share, 0% month over month increase).

Average revenue per active player account in January was CAD $297, a 13% month over month increase.