While Alberta sports betting has taken a detour to launch, lawmakers took a significant step this week.
Service Alberta Minister Dale Nally introduced Bill 48, the “iGaming Alberta Act,” this week. The act will establish the regulations for Alberta sports betting and online casinos. Nally previously said the regulations would resemble those of Ontario, the only open online gambling market in Canada.
“The reality is that online gambling is alive and well in this province,” Nally said, per the Canadian Press. “Let’s suppose this legislation doesn’t pass; that won’t stop online gambling from continuing to grow.”
Nally initially hoped online gambling in Alberta could launch by the end of 2024. Canadian Gaming Association President Paul Burns recently said at a conference the launch will likely be in early 2026.
Making Alberta sports betting safer
Nally said the legalization of commercial operators is not meant to make gambling more accessible.
He estimates Play Alberta, the province’s lottery offering and only available legal online gambling, takes less than half of the overall gambling market. The rest is from offshore and gray market operators.
Alberta Gaming Liquor and Cannabis reported $5.3 billion in wagers during the 2023-24 fiscal year. That resulted in $235 million in taxes.
Operators bullish on Alberta
JMP Securities estimated last year that Alberta online gambling could surpass $700 million annually. During earnings reports last summer, operators began sharing expectations for the Alberta sports betting market.
Northstar Gaming executives said the province has the youngest adult population in Canada and the highest per-capita GDP.
Rush Street Interactive CEO Richard Schwartz said Albertans also have the highest per-capita spending on gambling in Canada.
Following Ontario’s lead
Nally said the province will implement many of the same regulations Ontario regulators set up and the changes made since the 2022 launch.
Multiple industry executives lauded Ontario’s regulatory framework at the Canadian Gaming Summit last year. Martin Lycka, Entain’s SVP of American regulatory affairs and responsible gambling, said it is “the platinum standard of iGaming regulation.”
During Ontario’s second year with commercial operators, online gambling handle grew 78% to CAD $63 billion, or USD $46.2 billion. Ontario has more than 40 licensed online gambling operators.
