Ontario Online Gaming Boom Soars to New Revenue Peak
Looking at revenue figures, Joseph Hillier, President and CEO of iGaming Ontario, told us yesterday in his office about the "robust undertones of what makes the market the market." Today's publication of November's financial data for the igaming market only confirms that.
November's total cash wagers of CAD $9.33 billion, up 1% from the previous peak set last month, set yet another milestone for the province. At CAD $406.2 million, a significant 10% increase from October, total non-adjusted gross gaming revenue (NAGGR) also hit a record.
At 1,297,000, active player accounts increased by 1% from the previous month. Additionally, the average revenue per active player account increased by 10% from October to CAD $313.
Almost fifty operators
There are now 82 live online gambling sites and 48 licensed operators in the Ontario market.
“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 Ontario igaming market sets another record in total cash wagers for November.
Sports betting brought in CAD $1.25 billion in cash wagers (a 2% month-over-month rise) for a 13% market share, while the online casino segment continued to dominate the private, regulated industry with CAD $7.95 billion in total wagers (85% market share), a 1% increase from October. P2P poker earned a 1% market share with CAD $129 million in cash bets, a 1% decrease from October.
In terms of revenue, the online casino earned CAD $298 million in November (a 2% drop from the previous month) for a 73% market share. With a 25% market share, sports betting brought in CAD $102 million, a staggering 75% rise from October. P2P poker generated CAD $6.3 million in revenue in November, up 11% from October and accounting for 2% of the market.
Revenue from Sports Betting Increases Significantly
In a 4-1 decision in November, the Ontario Court of Appeal ruled that the province may lawfully provide foreign liquidity. This decision will have a significant impact on the province's gaming sector.
The court's legal challenge was whether legal internet gaming and sports betting would still be allowed under the criminal code if its users were allowed to engage in betting and games with people who were not Canadian citizens. Unless interprovincial agreements permit it, players from other Canadian provinces and territories are not permitted to participate in games or wagering.
"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.”
