Ontario iGaming Generates Record Revenue In March

iGaming Ontario reported online casino revenue of $684.8 million CAD ($495.5 million USD) for the first quarter of 2025, highlighted by a record $240.3 million CAD ($174.2 million USD) for operators in March.

The quarterly figure, which also closed out Fiscal Year 2025, represents a 33.8% year-over-year increase. It also showed that double-digit growth in the gaming vertical is not restricted to the United States, where the "Big 3" of Michigan, New Jersey, and Pennsylvania all set at least one form of record revenue in the month of March.

The amount wagered in Canada's largest province has topped $6 billion CAD ($4.35 billion USD) for six months running, with March reaching an all-time high of $6.6 billion ($4.79 billion). That monthly figure was up 28.3% from March 2024.

Ontario-based operators generated more than $3.2 billion in overall revenue for FY 2025 when including mobile sports betting and poker, an increase of 32.3%. Internet casino gaming accounted for more than $2.42 billion of that amount.

Stacking it up against U.S. states

In comparing Ontario figures to the seven states with regulated online casino gaming, the province would rank a clear-cut fourth behind the aforementioned trio and well ahead of Connecticut.

Pennsylvania is the only state of the three largest markets that publishes wagering handle totals, and Ontario's drop for March is just over 60% of the $7.9 billion in accepted wagers across the Keystone State. The Canadian province's wagering was also nearly triple that of Connecticut's $1.69 billion reported in March.

March revenue in Ontario was up 31.6% compared to 12 months prior, which was a then-record $182.6 million CAD ($132.4 million USD). Provincial platforms crested $200 million CAD ($145 million USD) for the first time last October at $212.3 million and then set records in December ($224.4 million) and January ($230.6 million) before the usual February dip that comes with three fewer days of betting available.

Peer-to-peer poker rake totaled $148 million CAD ($107.3 million USD) in March, which was roughly unchanged compared to last year. The $6.6 million CAD ($4.8 million USD) in revenue was the second-highest monthly total recorded since launch in April 2022, but down 7% from that record $7.1 million total attained in March 2024.