Ontario reports record CAD$9.6 billion handle in March

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2025/09/26: Ontario reports record CA$8.1 billion wagers in August 2026/01/30: Ontario reports record-breaking December for revenue 2026/02/27: iGaming Ontario reports CA$9.5 billion in total cash wagers for January 2025/04/14: New York sportsbooks record online handle of US$2.4 billion in March

The Backstory

How Ontario’s online market reached its latest peak

Ontario’s latest surge in online gambling handle caps a multi-month climb that began late last year and continued through the winter. Since the province opened its regulated market in 2022, momentum has swung toward bigger monthly totals, a broader operator footprint and heavier casino play driving most of the gains. The pace picked up in the fall, quickened through the holidays and persisted into the new year, laying the groundwork for March’s new high-water mark in wagers and revenue despite fewer active accounts.

The groundwork was visible in October, when the province posted what was then a record CA$9.2 billion in total wagers and its highest monthly non-adjusted gross gaming revenue at CA$367.7 million, with online casinos accounting for 85% of betting activity. That month also brought a regulatory shift with the Court of Appeal for Ontario allowing residents to enter global pools for peer-to-peer games such as online poker and daily fantasy sports, a change that broadened product reach even as poker remained a small slice of the overall market. The October results, detailed by iGaming Ontario, set the tone for a strong fourth quarter and a larger customer base entering winter as operators hit new highs.

By December, operators recorded back-to-back records, led again by online casinos. Total non-adjusted gross gaming revenue reached CA$425.4 million on CA$9.5 billion in wagers, with casinos generating CA$320.5 million, or three quarters of the market. Even with a small dip in active accounts versus November, average revenue per account rose, hinting at deeper engagement from existing players. The month also showed betting’s resilience, as sportsbook revenue more than doubled year-over-year to CA$99.1 million even with flat handle, underscoring improved hold and product mix. Those December trends, published by iGaming Ontario, marked the province’s strongest revenue month since launch.

Winter acceleration and a broader operator slate

Ontario carried that momentum into January, notching another high with CA$9.5 billion in total cash wagers and CA$402 million in non-adjusted gross gaming revenue. Casinos once again did the heavy lifting, booking CA$8.2 billion in wagers and a 77% revenue share. Active player accounts climbed to 1.326 million year over year, and average revenue per account ticked up, a sign that operators were maintaining engagement while expanding reach. January’s data, released by iGaming Ontario, also reflected the market’s continued expansion on the supply side as new technology providers and brands looked to tap the province’s scale; ST8’s entry via Tonybet was one of several moves aimed at strengthening content pipelines and differentiation. The month’s results reinforced casinos’ dominance with an 86% handle share, keeping sportsbooks and poker in supporting roles.

The uptick in new offerings was not limited to product suppliers. In late summer, DraftKings introduced Golden Nugget Online Gaming in the province after securing approval from the Alcohol and Gaming Commission of Ontario. That launch followed a pattern of brand layering among major operators, intended to capture distinct customer segments in casino and cross-sell to sportsbooks. August results showed the approach playing out against a rising tide: total wagers reached a then-record CA$8.1 billion, up 34.6% year over year, with online casino wagers at CA$7.2 billion and revenue growth outpacing gains in handle. While active accounts climbed, average revenue per account held steady, suggesting scale benefits without immediate dilution of spend per user. The August report flagged casinos’ 89% share of wagers, a level that has since persisted.

A fall-to-spring pattern takes hold

Ontario’s pattern over the last 12 months points to a cadence of late-year strength, early-year records and incremental month-on-month growth. October’s record was surpassed by December on revenue, then matched in January on handle, before edging higher again later in the winter. The sequence aligns with seasonal factors: a packed fall sports calendar that lifts cross-traffic to casino products, holiday-period engagement that supports higher spend and winter months that often favor indoor entertainment. It also reflects regulatory stability and a maturing operator base, which together have lowered friction for sign-ups and payments while expanding game libraries.

Crucially, casinos have remained the cornerstone. In October, casinos contributed 85% of wagers; in December, they generated 75% of revenue and CA$8.3 billion in handle; and in January, casinos held an 86% handle share. Sports betting has been a smaller but steady contributor, typically around 11–13% of handle, with revenue swinging month to month on hold. Peer-to-peer poker has stayed near 2% of handle. The consistency underscores where operators have focused product investment and marketing, and why average revenue per account can rise even as total accounts slip for a month, as seen in December and March.

Signals from outside Ontario

Ontario’s trajectory stands out even against larger U.S. benchmarks. New York, the nation’s biggest sports betting state, posted a US$2.4 billion online handle in March, up from February but paired with lower revenue as hold normalized. DraftKings led that market with US$912.1 million in handle and US$62.5 million in gross gaming revenue. New York’s numbers, released by the state gaming commission, highlight how sportsbook-led markets can swing sharply on outcomes, taxes and promotions, while Ontario’s casino-led mix tends to smooth volatility. The New York report also showed sizable earmarks for public programs, illustrating the political stakes tied to gaming growth. Those March figures offer a contrast in composition and policy that informs how regulators and operators calibrate product portfolios and responsible gambling funding.

Why March’s jump matters now

Against that backdrop, Ontario’s March performance extends a familiar curve: higher handle than February, higher revenue and deeper spend per active account, even as the number of active accounts slipped. The combination suggests existing customers are transacting more frequently or at higher stakes, and that casino game depth and engagement features are sustaining spend. Sportsbooks also benefited from a busy calendar, but with an 11% handle share, their impact was secondary to the casino engine.

Competition remains intense. The province listed roughly 45–50 licensed operators and 79–88 platforms over the recent period, a density that pressures acquisition costs and favors brands that can monetize beyond first deposits. The October court ruling opening global pools for peer-to-peer games may gradually add liquidity to poker, but the bigger catalyst remains content and cross-sell inside casino ecosystems. August’s Golden Nugget launch and January’s supplier additions show how operators are shoring up catalogs to keep high-value users engaged.

Looking ahead, the stakes are clear. Sustained growth at or above CA$9 billion in monthly wagers signals a market approaching scale, with tax and responsible gambling implications alongside commercial gains. If the fall-to-spring cadence holds, operators could see another lift in the fourth quarter, especially if product breadth and payment experiences continue to improve. For now, the province’s recent milestones — from October’s record-setting turn to December’s revenue peak and January’s renewed handle high — have set a base that March has built on, keeping Ontario among the most closely watched regulated markets in North America.