Ontario Lottery and Gaming Corporation (OLG) finally reported its 2024-25 fiscal year results, and it was pleasantly surprised by how well its iGaming division fared amid dozens of licensed competitors.
OLG has three major lines of business: retail lottery at more than 10,000 retailers across the province, land-based gaming at 30 casino facilities and 37 charitable gaming centres, and digital gaming, which includes iCasino, online sports betting, and iLottery through OLG’s online and mobile platforms such as OLG.ca and PROLINE+.
OLG misses bottom-line targets
Although it is now March 2026, OLG’s new reporting covers fiscal year 2024-25, the 12-month period from April 1, 2024, to March 31, 2025.
Across that time, combined proceeds for those three lines of business were $9.31bn, down by a hair from the $9.32bn in 2023-24. Total revenues were $4.8bn, up $108m or 2% compared to the prior year. OLG’s net profit to the province (NPP) fell 5% year over year to $2.25bn, although the report stressed that it would have been up 3% when adjusted for a one-time provision “related to an ongoing legal matter.”
Those total proceeds, total revenues and NPP all fell short of what was budgeted for 2024-25. Proceeds missed target by $585m (6%), revenues were off by $286m (6%) and NPP was 14% lower ($376m) than expected. Even without the legal provision, net proceeds to the province still would have been $187m (7%) below budget.
As well as its $2.25bn in NPP, OLG contributed around $1.3bn to various sectors of the community last year, including to lottery retailers, First Nations, municipalities and the federal government. OLG also reported a new annual record in charitable gaming proceeds and NPP ($458m and $38m, respectively), which yielded record annual payments to Ontario charities of $111m.
iGaming performs above expectations
Other than its billion-dollar contributions, OLG’s biggest shining light was the growth of its digital gaming operations. While the crown corporation’s overall revenue and contribution to the province were flat, its iGaming and iLottery division beat expectations to report record revenues.
Proceeds on OLG.ca and PROLINE+ increased $132m or 18% to a new record of $882m. That includes net win from online casino and digital sports betting and iLottery sales before the deduction of prizes. OLG noted that performance was 8% above the target it had set for the 2024-25 year.
iGaming revenue grew 16% year over year to $731m (7% above projections) and NPP soared 27% to a new high of $417m (23% over budget).
The crown corporation credited higher player counts and the launch of several new iCasino products as factors in the jump. Between April 1, 2024 and March 31, 2025, OLG launched more than 300 new games on OLG.ca and also rolled out several initiatives such as a new ‘Arcade’ online casino category, and the number of average monthly active digital players rose by 19% year over year.
Ontario Lottery looks to level up amid competition
OLG stressed that its iGaming growth came despite “continued pressure” to compete for players in Ontario’s highly competitive market against internationally recognized, multi-jurisdiction brands. As of the time of writing, Ontario hosts 48 licensed commercial operators, running a total of 82 approved gaming sites.
But while OLG appears to be acquitting itself well in North America’s busiest regulated iGaming market, the crown corporation says it will continue to strive for improvement.
“As we look to engage the next generation of players — who are more digital-savvy and socially conscious — we are also developing more personalized proactive supports that meet players where they are,” said OLG President and Chief Executive Officer Duncan Hannay. “We are growing our business by introducing new products and improving speed-to-market across all digital categories.”
Reflecting on OLG’s land-based gaming dip, wherein proceeds fell 3% to $3.82b (10% below the budgeted target) and the revenue and NPP missed projections by 10% and 11%, the crown corporation cited numerous “risks to casino gaming”, such as economic pressures, increased competition for in-person players’ time and money, the growth of iCasino.
To try to mitigate those risks, the lottery stressed it is continuing to pursue omnichannel opportunities and partnerships that connect land-based gaming with online play. OLG’s report directly cited an intention to focus on certain game categories such as live casino that have “mass appeal,” as well as ensuring it can offer games from as many major suppliers in Ontario as possible.
At the back end of the 2024-25 fiscal year, OLG announced that global online betting technology supplier Kambi would take over from La Française des Jeux (FDJ) as its omnichannel PROLINE sportsbook provider, although the revamped sportsbook did not ultimately launch in the market until late last month.
What is OLG’s iGaming market share?
Officials from both Kambi and OLG have said that they believe the PROLINE upgrade will help OLG not only stay competitive in the provincial iGaming market but even grow the lottery’s sports betting market share.
As for what that market share is now, it’s difficult to say. Comparing the Ontario lottery’s reporting with the wider iGaming Ontario (iGO) commercial online gambling market is tough for several reasons.
While OLG’s reporting is nearly 12 months out of date, iGO’s last update two weeks ago gave numbers for January 2026. OLG’s licensed competitors took more than $98bn in wagering volume from Jan. 1 to Dec. 31, 2025, and made more than $4bn in non-adjusted gross gaming revenue. There’s also the fact that OLG’s digital category includes iLottery, which iGO operators do not offer.
Removing iLottery, OLG’s gross gaming revenue from iGaming was $585m from April 1, 2024, to March 31, 2025. iGO reported a total of $3.8bn in non-adjusted gross gaming revenue for the same period, which would peg OLG’s rough market share at around 15%. That is down from an estimated 20% for the previous-year period via the same crude calculation method.
