LIVE DATA · APRIL 2026 RELEASE

Ontario iGaming
Monthly Performance

Name: Ontario iGaming Monthly Market Performance
Creator: iGaming Ontario
Published: 2026-05-27

Ontario's regulated iGaming market handled $9.31B in cash wagers and generated $405M in NAGGR in April 2026, with 1,265K active player accounts.

In April 2026, Ontario operators handled $9.31B in cash wagers (-3.0% MoM, +19.5% YoY) and produced $405M in NAGGR (+5.0% MoM, +29.4% YoY). Active player accounts reached 1,265K (+16.0% YoY) at an average revenue per active account of $321. Trailing-12-month wagers run-rate sits at $104.85B, with NAGGR at $4.36B. That equates to roughly 9.9% of Ontario's adult (15+) population holding an active account that month — an upper-bound estimate, since one person can hold accounts with multiple operators.

APRIL 2026 EDITION · Magazine-grade report Download the Ontario iGaming Monthly Report 🇨🇦 iGO · Ontario 🇨🇦 AGCO · Regulator 12 pages · 4.2 MB · PDF

Cash Wagers

$9.32B

↓ -3.0% MoM

YoY +19.5% CAGR 71.4%

NAGGR

$405M

↑ +5.0% MoM

YoY +29.4% CAGR 74.3%

Active Players

1,265K

↑ +2.0% MoM

YoY +16.0% CAGR 46.2%

ARPPA

$321

↑ +3.0% MoM

YoY +11.9% CAGR 19.4%

Source · iGaming Ontario official data release Published 2026-05-27 Coverage 2022-04-04 → 2026-04-30 49 months indexed

Market scale & depth

The shape of Ontario’s regulated iGaming market

Trailing-12-month numbers smooth out monthly seasonality. Window: 2025-05 → 2026-04.

Annualised wagers run-rate

$104.85B

TTM YoY +24.3% Sum of last 12 monthly cash-wager totals

Annualised NAGGR

$4.36B

TTM YoY +32.8% Implied blended hold 4.16%

Market depth

9.9%

of Ontario adults 15+ +7.7 pp since launch · upper-bound — accounts, not unique persons

All-time wagers peak

$9.59B

2026-03 1 mo. ago

Penetration uses Statistics Canada Table 17-10-0005-01 (Ontario, age 15+, Q3 2024) as denominator (source, as of 2024-07-01). Active player ACCOUNTS, not unique persons — one player may hold accounts with multiple operators. AGCO/iGO does not publish unique-individuals data, so this penetration figure is an upper bound.

Executive summary

What changed this month

Trend up

Wagers +19.5% YoY

Cash wagers of $9.31B are +19.5% versus April 2025, with a trailing-12mo average of $8.74B.

Trend up

NAGGR +29.4% YoY

Operators booked $405M in NAGGR, at an implied blended hold of 4.3% across all products.

Players

1,265K active accounts

Active player accounts are +16.0% YoY with ARPPA at $321.

Mix

Casino 87% of wagers

Casino captured 87% of cash wagers and 77% of NAGGR — its share is rising versus two years ago.

Calendar

FY26 closes near record

April 2026 closed FY26 with cash-wager run-rate near the all-time peak of $9.59B (2026-03).

Forecast

Next 3 months

Ensemble forecast projects cash wagers of $9.94B, $9.86B, $10.00B for the coming three months (median of linear-trend, exponential-smoothing, and seasonal-naive methods).

Market trends

49 months of Ontario iGaming, charted

Every monthly KPI since regulated launch on 4 April 2022. Hover any chart for the exact value.

Cash Wagers

$M / month

Continuing expansion through the most recent six months

NAGGR (Net Revenue)

$M / month

Continuing expansion through the most recent six months

Active Player Accounts

thousands / month

Continuing expansion through the most recent six months

ARPPA (per account)

$ / month

Continuing expansion through the most recent six months

Product mix

Casino, Betting, Poker — who’s winning?

Wagers — latest month share

April 2026

NAGGR — latest month share

April 2026

NAGGR share over time

stacked, by product

Product	Wagers	Wagers share	NAGGR	NAGGR share	Implied hold	YoY growth	Share trend
🎰 Casino	$8.14B	87.0%	$314M	77.0%	3.9%	+23.7%	Rising
⚽ Betting	$1.05B	11.0%	$86M	21.0%	8.2%	-2.1%	Falling
🃏 P2P Poker	$128M	1.0%	$5M	1.0%	4.1%	-11.1%	Stable

Margin & hold

How much of every dollar wagered operators keep

Hold rate = NAGGR ÷ cash wagers, computed monthly. Trailing-12mo (TTM) average smooths month-end timing noise. YoY change reported in percentage points (pp), not relative %.

Hold rate over time

market + per product

Market — latest

4.35%

TTM avg 4.15%

YoY +0.26 pp

Product	Latest	TTM avg	YoY
🎰 Casino	3.86%	3.78%	+0.28 pp
⚽ Betting	8.23%	7.06%	+0.60 pp
🃏 P2P Poker	4.14%	4.15%	+0.16 pp

Fiscal year view

The regulator’s framing — Ontario’s FY runs April → March

AGCO and Ontario Finance both report against fiscal years. In-progress FYs compare like-for-like to the same opening months of the prior FY.

Annual totals

FY	Wagers	YoY	NAGGR	YoY	Hold	Peak players	Status
FY23	$35.54B	—	$1.41B	—	3.98%	677K	complete
FY24	$63.28B	+78.0%	$2.44B	+72.5%	3.85%	912K	complete
FY25	$82.74B	+30.8%	$3.22B	+32.0%	3.89%	1,129K	complete
FY26	$103.33B	+24.9%	$4.27B	+32.6%	4.13%	1,327K	complete
FY27	$9.32B	+19.5%	$0.41B	+29.4%	4.35%	1,265K	1/12 months

Show 17 quarterly rollups

FY-Q	Wagers	QoQ	YoY	NAGGR	Hold
FY27Q1	$9.32B	-66.6%	-59.7%	$0.41B	4.35%
FY26Q4	$27.87B	-0.7%	+21.6%	$1.13B	4.06%
FY26Q3	$28.08B	+15.8%	+23.5%	$1.20B	4.27%
FY26Q2	$24.25B	+4.9%	+29.8%	$0.98B	4.02%
FY26Q1	$23.12B	+0.8%	+25.6%	$0.96B	4.14%
FY25Q4	$22.93B	+0.9%	+28.6%	$0.91B	3.95%
FY25Q3	$22.73B	+21.7%	+32.0%	$0.83B	3.64%
FY25Q2	$18.68B	+1.5%	+31.2%	$0.76B	4.04%
FY25Q1	$18.40B	+3.2%	+31.6%	$0.73B	3.97%
FY24Q4	$17.83B	+3.5%	+28.7%	$0.69B	3.89%
FY24Q3	$17.22B	+21.0%	+49.3%	$0.66B	3.82%
FY24Q2	$14.24B	+1.9%	+134.1%	$0.54B	3.80%
FY24Q1	$13.98B	+0.9%	+243.1%	$0.55B	3.90%
FY23Q4	$13.85B	+20.1%	—	$0.52B	3.79%
FY23Q3	$11.54B	+89.7%	—	$0.46B	4.01%
FY23Q2	$6.08B	+49.3%	—	$0.26B	4.34%
FY23Q1	$4.08B	—	—	$0.16B	3.98%

Seasonality

Month-of-year indices — when the market actually peaks

Each cell shows the month’s average value as a percentage of the full-history average for that metric. 1.00 = average; 1.10 = 10% above average; 0.90 = 10% below.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Peak
Cash Wagers	1.17	1.07	1.19	0.97	0.85	0.80	0.83	0.87	0.94	1.06	1.10	1.16	Mar
NAGGR	1.20	1.03	1.16	1.00	0.87	0.80	0.83	0.87	0.95	1.03	1.13	1.13	Jan
Players	1.19	1.20	1.14	1.01	0.84	0.81	0.77	0.79	0.96	1.06	1.10	1.12	Feb
ARPPA	1.03	0.86	1.04	0.94	0.99	0.97	1.06	1.10	0.99	0.98	1.04	1.02	Aug

Below average ≈ Average Above average

Records · streaks · stability

What the market has done — and how stable it now is

📌 All-time records

Wagers $9.59B 2026-03 · 1 mo. ago
NAGGR $426M 2025-12 · 4 mo. ago
Players 1,327K 2026-01 · 3 mo. ago
ARPPA $333 2025-12 · 4 mo. ago

🔥 Current streaks

Wagers ↓ 1 mo down latest MoM -3.0%
NAGGR ↑ 2 mo up latest MoM +5.0%
Players ↑ 1 mo up latest MoM +2.0%
ARPPA ↑ 2 mo up latest MoM +3.0%

📉 Worst drawdowns

Wagers -10.0% 2025-05 → 2025-06 · recovered 2mo later
NAGGR -19.6% 2025-12 → 2026-02 · not yet recovered
Players -21.4% 2023-02 → 2023-07 · recovered 2mo later
ARPPA -27.5% 2023-07 → 2024-02 · recovered 6mo later

P2P Poker NAGGR peaked at $7.1M in 2024-03 and has not retaken that level since (-32.4% peak-to-trough).

📊 Market stability (CV)

Coefficient of variation, last 12 months vs prior 12. Lower = more stable.

Wagers CV 0.093 from 0.113 · stabilising
NAGGR CV 0.113 from 0.110 · unchanged
Players CV 0.115 from 0.144 · stabilising
ARPPA CV 0.071 from 0.077 · stabilising

Market maturation

Ontario's iGaming market has graduated from launch ramp to mature plateau.

8.6× growth in cash wagers since launch — $1.08B (Apr 2022) → $9.31B (April 2026)
71.4% CAGR in handle since launch, 74.3% in NAGGR
Steep launch ramp through Oct 2023, then settled into a mature plateau
Trailing-12-mo avg $8.74B — winter highs alternate with summer softness
YoY decelerated to +19.5% on wagers — past the land-grab phase

Product mix shift

Casino dominates handle; Betting punches above its weight on revenue.

Casino 87% of wagers + 77% of NAGGR in April 2026
Casino wagers-share rising vs 2 years ago (was 83%) — live-dealer + slot growth
Betting 11% of wagers but 21% of NAGGR — structurally higher hold
Hold rates: Casino 3.9% vs Betting 8.2% vs Poker 4.1%
P2P Poker steady at 1% / 1% — small but loyal niche

Structural lesson for other Canadian provinces: a regulated, competitive casino vertical will dominate headline handle but yield a smaller share of taxable revenue than sports.

Player engagement

Market has shifted from player acquisition to yield-optimisation.

Accounts 277K → 1,265K (4.6× since launch)
ARPPA $158 → $321 at 19.4% CAGR
Account growth dominated through FY24 — operators acquiring
FY25 onward: flat ARPPA on marginal accounts — yield phase, not acquisition
Winter > summer account counts — mirrors North American sports calendars

Outlook

Next 3 months — 3-method ensemble forecast

Forecasts are the median of three independently-computed methods: (1) linear-trend OLS on the last 12 months, (2) manual exponential smoothing with damped trend (α=0.3, β=0.1), and (3) seasonal-naive (y[t-12] × trailing-12-month growth). The low/high band is the min/max across the three methods — an honest uncertainty envelope, not a statistical confidence interval.

Cash Wagers ($M)

Month	Low	Point	High
2026-05	9,719	9,940	10,023
2026-06	9,020	9,861	10,125
2026-07	9,400	10,004	10,310

NAGGR ($M)

Month	Low	Point	High
2026-05	410	416	449
2026-06	407	417	425
2026-07	413	424	433

Active Players (K)

Month	Low	Point	High
2026-05	1,330	1,330	1,380
2026-06	1,261	1,350	1,410
2026-07	1,181	1,370	1,440

ARPPA ($)

Month	Low	Point	High
2026-05	301	309	336
2026-06	300	310	322
2026-07	299	311	349

Forecast accuracy — how we did last month

First run — no prior forecasts on record to backtest. From the next monthly ingest onward, this section will score the current forecast against last month's prediction.

What I’d watch next quarter

Three forecast methods broadly agree; summer prints structurally below trend.

Wagers next 3 months: $9.94B → $9.86B → $10.00B
NAGGR next 3 months: $416M → $417M → $424M
Wider low/high band in May–July = seasonal-naive pulling down, not new instability
Watch: does casino wagers-share hold above 85% as betting pushes for re-engagement?
Watch: does ARPPA keep climbing against a still-expanding account base?
Watch: any operator entry/exit that changes competitive structure

Anomalies

Months that didn’t fit the trend

2022-09 Active Players +44.0%

Active players k jumped 44% MoM

2022-05 Cash Wagers +36.0%

Cash wagers jumped 36% MoM

Raw data

Full monthly history

All 49 months · 2022-04-04 to 2026-04-30. Show / hide all rows

📥 Download the data Market CSV 49 rows Per-product CSV 147 rows Raw JSON Analysis JSON CC-BY · iGaming Ontario source · cite GamingCompliance.io

Month	FY-Q	Wagers ($M)	MoM	NAGGR ($M)	MoM	Players (K)	MoM	ARPPA ($)	MoM
2026-04	FY27Q1	9,315	-3.0%	405.4	+5.0%	1,265	+2.0%	321	+3.0%
2026-03	FY26Q4	9,591	+10.0%	386.9	+13.0%	1,240	-5.0%	312	+19.0%
2026-02	FY26Q4	8,735	-9.0%	342.4	-15.0%	1,305	-2.0%	262	-14.0%
2026-01	FY26Q4	9,547	0.0%	402.6	-5.0%	1,327	+4.0%	303	-9.0%
2025-12	FY26Q3	9,501	+2.0%	425.6	+5.0%	1,277	-2.0%	333	+7.0%
2025-11	FY26Q3	9,332	+1.0%	406.2	+10.0%	1,299	+1.0%	313	+9.0%
2025-10	FY26Q3	9,249	+8.0%	368.2	+12.0%	1,287	+9.0%	286	+2.0%
2025-09	FY26Q2	8,548	+5.0%	329.8	-1.0%	1,177	+16.0%	280	-15.0%
2025-08	FY26Q2	8,139	+8.0%	334.8	+8.0%	1,016	+7.0%	330	+1.0%
2025-07	FY26Q2	7,564	+4.0%	311.1	+1.0%	948	-6.0%	328	+8.0%
2025-06	FY26Q1	7,259	-10.0%	306.8	-9.0%	1,013	-5.0%	303	-4.0%
2025-05	FY26Q1	8,066	+3.0%	338.0	+8.0%	1,068	-2.0%	316	+10.0%
2025-04	FY26Q1	7,796	-2.0%	313.3	+6.0%	1,091	+3.0%	287	+3.0%
2025-03	FY25Q4	7,955	+12.0%	296.1	+6.0%	1,060	-6.0%	279	+12.0%
2025-02	FY25Q4	7,128	-9.0%	280.3	-15.0%	1,129	+2.0%	248	-16.0%
2025-01	FY25Q4	7,845	0.0%	328.6	+22.0%	1,106	+8.0%	297	+13.0%
2024-12	FY25Q3	7,818	+5.0%	269.8	-7.0%	1,025	+1.0%	263	-9.0%
2024-11	FY25Q3	7,463	0.0%	291.6	+10.0%	1,011	+7.0%	288	+2.0%
2024-10	FY25Q3	7,453	+14.0%	266.0	-3.0%	945	+10.0%	281	-12.0%
2024-09	FY25Q2	6,535	+8.0%	274.4	+15.0%	859	+20.0%	320	-4.0%
2024-08	FY25Q2	6,045	-1.0%	238.3	-2.0%	718	-13.0%	332	+13.0%
2024-07	FY25Q2	6,098	+2.0%	242.4	+1.0%	823	-2.0%	294	+3.0%
2024-06	FY25Q1	5,978	-4.0%	239.6	0.0%	838	+3.0%	286	-3.0%
2024-05	FY25Q1	6,258	+1.0%	240.6	-4.0%	816	-10.0%	295	+7.0%
2024-04	FY25Q1	6,166	-1.0%	250.1	+4.0%	910	+6.0%	275	-2.0%
2024-03	FY24Q4	6,235	+11.0%	240.8	+14.0%	857	-6.0%	281	+21.0%
2024-02	FY24Q4	5,614	-6.0%	211.4	-12.0%	912	+4.0%	232	-16.0%
2024-01	FY24Q4	5,982	-1.0%	241.3	+7.0%	877	+8.0%	275	-2.0%
2023-12	FY24Q3	6,065	+8.0%	226.2	+7.0%	809	+4.0%	280	+3.0%
2023-11	FY24Q3	5,609	+1.0%	211.9	-4.0%	779	0.0%	272	-4.0%
2023-10	FY24Q3	5,549	+10.0%	220.2	+11.0%	778	+11.0%	283	0.0%
2023-09	FY24Q2	5,067	+9.0%	197.8	+15.0%	700	+23.0%	282	-7.0%
2023-08	FY24Q2	4,632	+2.0%	172.6	+1.0%	568	+7.0%	304	-5.0%
2023-07	FY24Q2	4,541	+2.0%	170.3	+6.0%	532	-5.0%	320	+11.0%
2023-06	FY24Q1	4,466	-4.0%	161.4	-17.0%	557	-11.0%	289	-7.0%
2023-05	FY24Q1	4,675	-3.0%	195.0	+3.0%	628	-7.0%	311	+11.0%
2023-04	FY24Q1	4,840	-1.0%	189.4	-1.0%	677	+5.0%	280	-6.0%
2023-03	FY23Q4	4,900	+13.0%	191.8	+26.0%	647	-4.0%	297	+32.0%
2023-02	FY23Q4	4,336	-6.0%	152.7	-15.0%	677	+3.0%	225	-18.0%
2023-01	FY23Q4	4,616	+4.0%	179.8	+10.0%	655	+5.0%	274	+5.0%
2022-12	FY23Q3	4,456	+13.0%	163.5	-4.0%	624	+5.0%	262	-9.0%
2022-11	FY23Q3	3,948	+26.0%	171.0	+33.0%	594	+13.0%	288	+18.0%
2022-10	FY23Q3	3,131	+30.0%	128.3	+19.0%	525	+11.0%	244	+7.0%
2022-09	FY23Q2	2,413	+22.0%	108.2	+23.0%	475	+44.0%	228	-15.0%
2022-08	FY23Q2	1,984	+18.0%	88.1	+31.0%	331	+21.0%	266	+8.0%
2022-07	FY23Q2	1,685	+11.0%	67.5	+11.0%	274	-9.0%	247	+21.0%
2022-06	FY23Q1	1,525	+4.0%	60.9	+6.0%	299	-4.0%	203	+10.0%
2022-05	FY23Q1	1,471	+36.0%	57.5	+31.0%	310	+12.0%	185	+17.0%
2022-04	FY23Q1	1,079	—	43.9	—	277	—	158	—

Methodology

Source: iGaming Ontario Monthly Market Performance Data Tables — the official quarterly/monthly release.
Coverage: all AGCO-registered operators and the iGO-operated channel since the regulated market launched on 4 April 2022.
Data extraction: 2026-05-21 · Published: 2026-05-27.
Definitions: Cash Wagers = total stakes (non-bonus). NAGGR = wagers minus winnings (before promotional adjustments). Active Player Account = a real-money account with ≥1 transaction in the month. ARPPA = NAGGR ÷ Active Players.
Forecasts: 3-method ensemble (linear trend on last 12 months, exponential smoothing, seasonal-naive). The reported band is the spread across methods, not a statistical confidence interval.
Updates: page refreshes automatically when a new XLSX is parsed (typically the third week of each month).

AGCO Registration Requirements — the regulator behind this data
AGCO Standards Explorer — every Registrar's Standard
AGCO vs AGLC — Ontario vs Alberta head-to-head
UKGC vs AGCO — Britain vs Ontario operator playbook
iGaming Tax Calculator — Ontario's ~20% revenue share and beyond

Ontario iGamingMonthly Performance

The shape of Ontario’s regulated iGaming market

What changed this month

49 months of Ontario iGaming, charted

Cash Wagers

NAGGR (Net Revenue)

Active Player Accounts

ARPPA (per account)

Casino, Betting, Poker — who’s winning?

Wagers — latest month share

NAGGR — latest month share

NAGGR share over time

How much of every dollar wagered operators keep

Hold rate over time

The regulator’s framing — Ontario’s FY runs April → March

Annual totals

Month-of-year indices — when the market actually peaks

What the market has done — and how stable it now is

📌 All-time records

🔥 Current streaks

📉 Worst drawdowns

📊 Market stability (CV)

Market maturation

Product mix shift

Player engagement

Next 3 months — 3-method ensemble forecast

Cash Wagers ($M)

NAGGR ($M)

Active Players (K)

ARPPA ($)

Forecast accuracy — how we did last month

What I’d watch next quarter

Months that didn’t fit the trend

Full monthly history

Methodology

Related

Ontario iGaming
Monthly Performance