When looking into the Canadian iGaming landscape, Ontario has set the stage for other provinces to follow in legalizing privately owned operators. Alberta is slowly taking steps towards becoming the second province to allow residents to access a multitude of sportsbooks in a safe and regulated environment.
With Ontario’s market going live on April 4th, 2022, and no other developments since, it’s evident that Canadian jurisdictions are moving extremely cautiously in this regard. With Ontario projected to make $2.4 billion in revenue for the full year, the opportunity looks extremely attractive.
There has been some development within Alberta, hinting towards regulatory changes on the horizon. The following was included in their provincial budget last month, “$1 million in 2024-25 [that] will support a review of the Gaming, Liquor and Cannabis Act and supporting Regulation, with the objectives of reducing the regulatory burden on business and finding ways to increase contributions to Alberta charities and community facilities.” The takeaways from this are that the provincial body is open to exploring different avenues of revenue generating activities within Gaming, Liquor and Cannabis.
Further signalling for these changes came from the Minister of Service Alberta, Dale Nelly. Prior to the budget report he recorded, “Alberta can be a leading hub for iGaming, with a strong emphasis on openness and a free market. We have low corporate taxes, streamlined regulations and high disposable incomes. These conditions will allow us to establish ourselves as a premier destination for the iGaming industry.”
What we can expect going forward is a governing body being created in Alberta, to monitor and regulate all iGaming and sports betting operations. If Alberta begins to allow private operators, this would be the first step.
Bill 16, passed recently by a committee, paves the way for Alberta’s iGaming platform, aiming for a launch in 2025. This legislative momentum, coupled with the financial and operational blueprint from Ontario, suggests a strong possibility of Alberta becoming Canada’s next major sports betting market.
If Alberta successfully implements these changes, residents could soon access premier sports betting sites and promotions, significantly boosting the province’s economic landscape. The focus remains on ensuring a balanced approach that benefits both the market and community initiatives, promising an exciting future for Alberta’s sports betting industry.
