Publication Date: March 26, 2026, 05:37h.

Updated On: March 26, 2026, 05:37h.

• February’s total cash wagers in Ontario’s igaming sector dipped by 8% from a record $9.520 billion in January.
• Monthly revenue for February declined by 15% compared to January.
• The province currently has 47 licensed operators actively providing services.

Often referred to as the February slump, the igaming market in Ontario experienced a downturn last month, per the latest market performance analysis issued by iGaming Ontario.

Peak Betting During Super Bowl

The Super Bowl took place on February 8, marking the highest point for sports wagering in the year, at least until the arrival of March Madness NCAA basketball.

February’s total cash wagers in Ontario reached $8.735 billion, an 8% decrease from January’s record of $9.520 billion. Notably, cash wagers were $7.128 billion in February 2025, indicating a robust 22.5% year-over-year growth for the Ontario market.

The total unadjusted gross gaming revenue for February was recorded at $342.4 million, reflecting a 15% decline from the previous month.

Decline in Active Players

The number of active players also saw a reduction, declining by 2% from January to reach 1.298 million. The average revenue per active player decreased by 13% month-over-month to $264.

The financial findings provided by iGaming Ontario do not encompass results from the Ontario Lottery and Gaming Corporation’s igaming platform. Ontario’s regulated market has benefited from an impressive channelization rate, transitioning from the grey market to regulated services since the official launch in April 2022, currently standing at approximately 85%.

Market Growth with 47 Licensed Operators

Ontario’s igaming market hosts 47 licensed operators and showcases 81 active websites, making it one of the most dynamic and competitive regulated igaming environments worldwide. Additional operators are in the licensing process, as confirmed by iGaming Ontario in December.

Casino gaming remains predominant, capturing an 88% market share in total cash wagers for February at $7.653 billion, a 6% drop from January (with $6.067 billion in February 2025). Cash wagers for sports betting amounted to $946 million, making up 11% of the market share, which reflects a 20% decrease month-over-month. P2P poker cash wagers registered $135 million, contributing to a 2% market share and a 14% decline.

Currently, poker players are limited to gameplay within the province due to geo-fencing regulations, though this may soon change. A November ruling by the Ontario Court of Appeal has affirmed that Ontario can legally pursue international liquidity, potentially allowing gameplay beyond provincial borders, although this decision is currently under appeal by provincial lottery corporations to the Supreme Court of Canada.

Significant Revenue Decline

In terms of non-adjusted gross gaming revenue (NAGGR), casinos generated $275.7 million in February, equating to an 81% market share, which is an 11% month-over-month drop. Sports betting revenue was recorded at $61.3 million, holding an 18% market share and a stark 29% decline compared to January. Revenue from P2P Poker was $5.4 million for February, down 10% from January and representing a 2% market share.