Ontario's iGaming Revenue Just Crossed $3.2 Billion

The revenue figures reported by iGaming Ontario paint a clear picture of the market’s growth over the first three fiscal years. In the third fiscal year, the market generated $3.2 billion, compared to $1.26 billion in the first year. Let’s take a closer look at Ontario’s iGaming revenue.

Three Years of iGaming Ontario Revenue Growth

Ontario reports its iGaming revenue based on the fiscal year that begins in April and ends in March. In the first year, it generated $1.26 billion, followed by an increase to $2.2 billion in the second year. The third year was the best, with over $3.2 billion. What does this tell us? The market has continued to grow year over year.

For us, the growth is quite clear for a market of this size, it’s a significant development, especially when we consider that Ontario has transitioned from an unregulated environment to one where operators now operate legally.

Ontario’s regulated market launched in April 2022, making it the first province in Canada to do so. Previously, players in Ontario could only gamble on offshore sites or through the lottery. The growth I mentioned earlier shows that many players have switched to regulated casinos, and that’s a good thing.

Alberta followed the same model, and in 2026 it became the second Canadian province to open its market to private operators. Ontario truly serves as a concrete example for Alberta of how a new market can evolve.

Cumulative Revenue Has Passed $10 Billion

If we add up the revenue recorded over those three fiscal years along with the previously reported results, we’ll find that Ontario’s iGaming market has generated over $10 billion from 2022 to the present. But don’t be fooled. We need to distinguish between this figure and the iGaming Ontario revenue generated in a single year.

In 2025, the market set a record with revenues of approximately $4 billion, more than in the 2024-2025 fiscal year. However, we must not forget that these figures cover different 12-month periods, so we shouldn’t compare them directly. The calendar year runs from January through December, while the fiscal year runs from April through March.

Ontario also saw growth in 2026. In the first quarter alone, it generated $1.13 billion in revenue. This shows that it is experiencing continuous growth.

All these figures are accurate because they measure different time periods. There’s also some confusion among players because they interpret an annual figure as if it represented the total revenue generated by the iGaming market from its launch to the present. Don’t let that fool you.

Revenue vs Handle: What These Numbers Actually Measure

It is very important to understand exactly what the term “revenue” means in the context of iGaming. Unfortunately, many plaers confuse this term with the total amount wagered by players. In March 2026 in Ontario, the total volume of bets placed reached a record high of $9.59 billion in a single month.

To better understand the difference, most of the money wagered goes back to the players in the form of winnings. The rest of the money represents the casino’s revenue.

Also in that same month, online casino games generated 82% of the market’s total iGaming Ontario revenue. Impressive, isn’t it?

A figure like $9.59 billion is huge, we know, but not all of that money stays with the casinos. As I mentioned, only after players receive their winnings does the net amount remain, which reflects the casinos’ profit.

What’s Driving the Growth

The increase in revenue was accompanied by a rise in the number of accounts, which was to be expected. In 2026, Ontario’s iGaming market had 1.257 million active accounts. Two years earlier, there were only 816,000 accounts. Do you see what an impressive increase that is?

This is also why revenue continues to grow. More and more Canadians are choosing to play at licensed online casinos, and the number of legal casinos is also steadily increasing. Essentially, the two go hand in hand. More casinos mean more players.

And competition is getting fiercer. That means more attractive bonuses and better terms for you, the player. It’s one of the benefits of a competitive market, and you should take advantage of it.

What This Means for Players

This impressive growth does not merely reflect the emergence of new players. Many of them are migrating from offshore platforms to legal casinos. A recent study shows that the channeling rate to regulated operators reached 91.1% in 2026, up from 83.7% last year.

For you as a player this shift is more relevant than the revenue figures. With every player who switches from an ofshore site to a licensed operator, access to a better, safer gaming environment increases. Licensed casinos must comply with strict requirements and provide formal procedures for resolving disputes. Offshore casinos do not offer you this.

Do you feel that gambling is affecting your life? Free support services are available through the Responsible Gambling Council, Gambling Therapy, and CAMH.

Where to Go From Here

As you’ve learned, Ontario’s iGaming market has grown rapidly since its launch in 2022. You now have plenty of options to choose from. If you want to see which legal operators are active in your province, it’s best to check the updated list before making a choice.

We recommend that you always verify whether the casino you want to sign up for is legal or not. It’s also a good idea to read the bonus terms and conditions if you want to claim a bonus offered by the casino.