The Ontario regulated iGaming and sports betting market experienced a notable dip in February, according to the latest performance report from iGaming Ontario.
Total cash wagers reached $8.735 billion, marking an 8% decline from January’s record-breaking $9.52 billion. Despite the month-on-month drop, the market remains significantly stronger than in previous years, posting a 22.5% year-over-year increase compared to February 2025.
Vertical Performance and Player Engagement
Total non-adjusted gross gaming revenue (NAGGR) fell by 15% to $342.4 million. The decline was felt most sharply in the sports betting vertical, where revenues plummeted 29% to $61.3 million following the conclusion of the Super Bowl on February 8.
Casino games continue to be the dominant force in the province, commanding an 88% market share of total wagers ($7.653 billion) and 81% of revenue ($275.7 million). Peer-to-peer (P2P) poker also saw a 10% revenue decline, with play currently restricted by provincial geo-fencing.
A Highly Competitive Global Hub
Despite the dip in sports betting, the Ontario market remains one of the world’s most robust jurisdictions, hosting 47 licensed operators and 81 active websites. The province boasts a high channelization rate of 85%, meaning the vast majority of players have migrated from the gray market to legal platforms.
The number of active players dipped slightly to 1.298 million, with average revenue per player falling to $264. Industry watchers now look toward “March Madness” to revitalize engagement levels.
Meanwhile, the legal battle over international liquidity for poker, which could allow Ontario players to compete with those outside provincial borders, is currently headed to the Supreme Court of Canada.
