Ontario’s iGaming market experienced a noticeable downturn in February, as total revenue for the month fell by 15% compared to January, according to figures released by iGaming Ontario. After setting new records in January for both online casino and sports betting revenue, February’s results showed a significant cooling off in the market. The total revenue dropped from CA$327.9 million in January to CA$280.1 million in February, marking a 15% decrease month-over-month.

Online casino dominates the Ontario market:

The downturn was most pronounced in sports betting, which saw a 33% decline in revenue. Despite the hype surrounding the Super Bowl matchup between the Chiefs and Eagles, sports betting revenue fell from CA$91.9 million in January to CA$61.5 million in February. This sharp drop in revenue, especially after a historic performance the month before, highlights the volatile nature of the sports betting segment.

While sports betting revenue took a hit, online casinos remained the dominant force in Ontario’s iGaming landscape. The sector accounted for a staggering 76% of total revenue in February, even though it too saw a slight decline of 7% from the previous month. Online casino revenue fell from CA$230 million in January to CA$214 million in February. Despite this drop, February marked the third-highest revenue month for online casinos in the history of the Ontario market, trailing only December’s CA$224 million.

The total wagers placed on online casinos also dropped by 7%, amounting to CA$6.07 billion in February. Still, this figure represented a strong 85% of the total market handle, underscoring the continued dominance of online casinos in the provincial iGaming sector.

According to iGaming Ontario, the sports betting market’s 33% drop in revenue was coupled with a 21% decline in total wagers, which fell from CA$1.2 billion in January to CA$930 million in February. Despite Super Bowl LIX being held in February, typically one of the biggest events for sports betting, the total amount wagered dropped significantly. Sports betting accounted for just 13% of the total market handle and 22% of total revenue in February.

Similarly, the online poker segment also saw a downturn, with revenue dropping by 14% from CA$5.6 million in January to CA$4.8 million in February. Poker’s share of the total market remained steady at 2%, reflecting its niche status within the broader iGaming industry.

Ontario’s year-to-date trends:

Looking at the year-to-date numbers for 2025, online casinos have generated CA$444 million in revenue, while sports betting has brought in CA$154 million, and poker has contributed CA$10.4 million. These figures demonstrate that while February experienced a slowdown, the overall trends for the year still reflect healthy contributions from all sectors, particularly online casinos.

The decrease in sports betting revenue in February is a reminder of the cyclical nature of the market, where performance can be heavily influenced by specific events. The Super Bowl, despite being a major sporting event, couldn’t offset the general downward trend in sports wagering that the market saw in February.

As Ontario continues to grow its iGaming market, there remains potential for future fluctuations in revenue. The dip in February could be attributed to a combination of factors, including a lack of major sports events following the Super Bowl and typical post-holiday season slowdowns. However, the market’s overall upward trajectory over the past year provides confidence that Ontario’s iGaming sector will continue to recover and evolve.