This phrase suggests a positive outcome, often with an element of luck or unexpected success. I can't believe the demand for my cakes; I'm onto a good thing here.
Pro Tip 2/3
Informal Use
It's an informal expression more suited for casual conversations than formal writing. When she said I'm onto a good thing house-sitting for her, it felt casual and friendly.
Pro Tip 3/3
Not Always Financial
While often about financial benefit, it can also refer to other advantageous situations. Studying with her has improved my grades; I'm definitely onto a good thing.