Ontario Online Casino Revenue Hits Seven-Month Low In February As Growth Rates Showing Decline

Ontario iGaming produced CA$275.7 million in revenue in February, the lowest mark for the province since August, according to the latest report from iGaming Ontario.

However, with February being the shortest month of the year, the revenue was still a 28.8% increase year-over-year compared to the $214.0 million Ontario online casinos reached in February 2025.

However, this marks the first time in over a year that the YoY growth was below 30%.

Ontario Online Casino Revenue Growth Slowing

In 2025, Ontario online casino revenue increased by 40% compared to all of 2024. The online casinos in Canada jumped from CA$2.25 billion to $3.15 billion.

However, that growth rate has slowed to start 2026.

January saw just a 33.7% increase, while February reached only 28.8%, the lowest since before 2025.

On top of that, overall growth amounts seem to be trending lower as well. Here’s a look at the last six months and how they compared to the same month from the previous year.

• September 2025: Up $81.1 million (41.2%)
• October 2025: Up $91.4 million (43.0%)
• November 2025: Up $90.4 million (43.5%)
• December 2025: Up $95.9 million (42.7%)
• January 2026: Up $77.9 million (33.7%)
• February 2026: Up $61.7 million (28.8%)

While Ontario keeps seeing gains in monthly revenue, the early signs of 2026 are showing that the growth rate may finally be starting to slow and work toward an apex.

March will be an interesting month to see. Coming off the shortest month of the year, will iGaming make a return to the trends of the late months of 2025?

Online Casino Wagers Also Leveling Out in Growth Rate

Along with the revenue gains starting to slow, online casino wagers in Ontario seem to be making a similar trend.

Over the last 12 months, wager increases were seeing steady growth, topping out in the late summer but coming back down to more of a 25-26% increase year-over-year.

It’s clear that iGaming in Ontario is still forging ahead quite well, but both the revenue and wagering trends indicate that growth rates are starting to slow down a little. Will they hold at the current rate, or could see them dip closer to 20% by the end of the year?

As hot has online casinos have been in North America, there does eventually have to be a pinnacle. Is that pinnacle set to hit in the coming years?