Ontario’s regulated iGaming market delivered its strongest monthly financial performance to date in November, with total non-adjusted gross gaming revenue (NAGGR) surpassing the $400 million mark for the first time. The milestone reflects a combination of record wagering activity, higher revenue per player, and a notable rebound in sports betting margins.
Data released by iGaming Ontario (iGO) show that players wagered a total of $9.33 billion in cash during November. That figure represents a new monthly record and a modest increase from October’s previous high of $9.25 billion. Compared to November 2024, total wagering volume was 25% higher, highlighting sustained year-over-year growth across the province’s regulated market.
While handle increased slightly month over month, operator revenue rose at a much faster pace. NAGGR climbed 10% from October’s prior record of $367.7 million to reach $406.2 million. In year-over-year terms, licensed iGaming operators generated 39% more revenue than they did in November 2024.
Player activity and monetisation trends strengthen
November also set a new benchmark for player engagement. The number of active player accounts reached nearly 1.3 million, exceeding October’s total by 1%. Compared to the same period last year, the market recorded approximately 286,000 additional active accounts, reflecting both new customer acquisition and ongoing participation from existing players.
Average revenue per active player account (ARPPA) rose to $313 in November. That figure exceeded the levels reported in both September and October and marked a 9% increase year over year. However, ARPPA remained below the all-time high of $332 previously recorded in the market.
These combined indicators point to more effective monetisation during the latter months of the 2025 calendar year, with operators generating more revenue from a growing player base rather than relying solely on increased wagering volume.
Sports betting delivers strongest month since launch
After a challenging stretch earlier in the year, Ontario’s online sportsbooks recorded their best performance since the province opened its regulated market to commercial operators in April 2022. Sports betting NAGGR reached $102.0 million in November, crossing the $100 million threshold for the first time.
The figure represented an increase of nearly 11% over the previous record of $92 million set in January 2025. Month over month, sportsbook revenue surged 75% from October, while year-over-year growth reached 29%.
Sports betting handle also set a new high at $1.25 billion, slightly above November 2024 levels. The strong revenue performance mirrored patterns seen in several U.S. jurisdictions during the same period, where sportsbooks benefited from more favourable outcomes compared to the prior year.
As a result, sports betting accounted for 25% of total iGaming revenue in November, its largest share since January, even though casino wagering continued to dominate overall betting activity.
Casino play remains dominant as poker stays marginal
Online casino gaming remained the primary driver of Ontario’s iGaming market in November. Casino cash bets totalled $7.95 billion, accounting for 85% of all wagering during the month. That handle figure set yet another monthly record for the casino vertical.
Casino revenue reached $298.0 million, though this represented a 2% decline compared to October. As sports betting revenue increased, casinos’ share of total NAGGR fell from 83% in October to 73% in November, despite continuing to command the majority of betting volume.
Peer-to-peer online poker continued to represent a small portion of the overall market. Poker generated $129 million in wagers and $6.3 million in NAGGR during November, with activity remaining limited to Ontario due to ring-fencing requirements.
Cumulative revenue and tax contributions continue to rise
Since the launch of Ontario’s regulated iGaming market more than three and a half years ago, players have wagered over $247 billion across licensed platforms. November’s record performance pushed cumulative operator revenue to $9.78 billion.
With iGaming activity taxed at 20%, provincial tax revenue from the regulated market has now reached just under $2 billion. These figures exclude online gambling conducted through Ontario Lottery and Gaming (OLG) platforms.
As of November, the iGO-managed market comprised 48 licensed operators running a total of 82 websites. The record-setting month occurred despite recent operator exits, including the closure of four sites by Wildz Group and the shutdown of Betiton and MagicRed Casino, which were white-labelled under Aristocrat Interactive.
Source:
Ontario iGaming operators’ revenue soared to new all-time record in November, canadiangamingbusiness.com, December 17, 2025
