Ontario Lottery Posts Strong iGaming Results Despite Market Competition

^{An Ontario Lottery and Gaming (OLG) prize centre. The corporation reported $585 million in revenue from its online gaming operations during the 2024-25 fiscal year. (Photo: JHVEPhoto / Alamy)}

The Ontario Lottery and Gaming Corporation (OLG) posted its 2024-25 fiscal year results this week, showing that their in-house iGaming business continues to compete well against private operators in Ontario's market.

The figures, covering the year ending March 31, 2025, show that OLG generated $585 million in revenue from its online casino and sports betting operations, up 15% from the previous year.

Ongoing Legal Matter Leads to Lower Net Profit

The growth of OLG’s iGaming sites has been impressive, given that private companies also compete in the province through iGaming Ontario (iGO). 

“In Ontario’s ever-expanding and evolving iGaming market, OLG continues to drive growth in our Digital Gaming business by providing players with an expansive experience that includes iCasino, iSports, and iLottery,” OLG President and CEO Duncan Hannay said in a statement included in the OLG Annual Report.

“We are growing our business by introducing new products and improving speed-to-market across all digital categories. That includes ‘Arcade’ - a new iCasino category that offers players a diverse range of Crash, Tap, and Game Show games – which launched in June 2024.”

Including all lottery, land-based gaming, and digital operations, OLG reported $2.2 billion in net profit to the province for the fiscal year. That number fell short of expectations and was down 5% year over year. 

However, OLG said the total would have been $2.4 billion if not for “a provision related to an ongoing legal matter.”

“This adjusted NPP is up three percent over prior year and is in addition to the more than $1.3 billion of support we provided to Ontario First Nations, our host gaming communities, Ontario charities, Ontario’s horse racing industry, and more,” Hannay wrote.

Digital Gaming Covers for Land-Based Decline

OLG operates the provincial lottery, with lottery and sports-based games available at more than 10,000 retailers. It also manages gaming operations at 30 casinos and 37 charitable gaming centres, while offering iGaming via casino, lottery, and sports betting sites.

Overall, digital gaming proceeds were up $132 million year-over-year, offsetting a $75 million decrease in land-based gaming revenues.

The growth in OLG’s figures comes alongside similar advances for the open iGaming market in the province. For fiscal year 2024-25, iGO reported that its regulated sites took in $82.7 billion in total wagers and $2.9 billion in total gaming revenue, up over 30% from the previous year. 

According to iGO, the regulated iGaming market in Ontario includes 48 authorized operators and 82 websites.