iGaming Ontario Hits the Revenue Jackpot in 2025

Ontario’s regulated online gambling market has exhibited phenomenal growth since its launch in April 2022, but iGaming Ontario (iGO) had never before breached the $8 billion barrier for total wagers in a single month - until May.

iGO’s latest monthly financial returns indicate the most impressive month ever in the three years since its official launch, both in terms of total amount wagered and operator’s revenue.

 All-Time High Revenue in May

According to recently released iGaming market performance data, the province saw $8.066 billion in total wagers throughout the month of May, representing a 3% increase over April and beating March’s all-time high of $7.95 billion. The total dollar amount wagered is up 28.9% from this time last year.

2025 has been a lucrative year in terms of non-adjusted gross gaming revenue (NAGGR) - essentially the total wagers less total player winnings, for the online gaming market in Ontario. January saw a record $328.4 million, followed by April at $313.3 million. May set a new record, with revenue of $338 million, an impressive 8% month-on-month surge. The total operator earnings also reflected an impressive 40.5% increase over May 2024.

The number of active player accounts dropped by 2% in May to 1.068 million; however, average spend increased by 10% to $316, the highest dollar value since September 2024.

 Online Casinos Lead the Way

Ontario’s licensed casino sector is dominated by online casino games, including slots, table games, live dealer and peer-to-peer bingo, with this vertical consistently accounting for approximately 85% of total cash wagers and at least 70% of operator earnings. 

In May, online casino games set a new benchmark, accounting for $6.95 billion, or 86% of the total $8.06 billion wagered, a new record and a year-on-year increase of 30.9%.

Of the total operator earnings of $338 million, a new record of $259.8 million was attributable to digital casino play, representing 77% of the total. Operator earnings from online casinos grew 45.5% in the same year. 

The primary reason for the dominance of online casino games is that there are significantly more licensed sites offering this vertical than those offering sports betting. 

Sportsbooks Report Second-Highest Monthly Revenue

In May, Ontario’s regulated sportsbooks reported their second-highest revenue total of 2025 so far, generating $71.8 million, an 11% increase from April and a 26.6% increase from May 2024. This is a sizable rebound after April’s revenue total had been worse than the corresponding month in 2024.

Despite sports betting turnover falling month-on-month, down from $1.07 billion in April to $972 million in May, the total value of sports bets struck is up 18.5% from last year. 

With the total amount wagered since the launch of the regulated market set to surpass a staggering $200 billion in June, licensed operators generating $7.6 billion, and the province securing $1.5 billion in tax yield to date, Ontario's trajectory is set to continue as a model to emulate.

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