Alberta Passes iGaming Act To Expand Legal Betting Industry

Alberta’s Path to iGaming Legislation: A Transformative Step in the Gambling Industry

Alberta’s legislative body has taken a significant step forward by passing the iGaming Act during its third reading without amendments. This pivotal piece of legislation aims to expand Alberta’s legal betting framework, currently limited to the PlayAlberta sports betting application.

Key Legislative Milestones

With the eponymous Bill 48 championed by Service Alberta Minister Dave Nally, the legislation merely awaits the formal approval of Lieutenant Governor Salma Lakhani to become law. Expectations are high that this endorsement will be granted swiftly.

Minister Nally emphasized the importance of this initiative, stating, “This is about bringing order to a growing market, collecting revenue, and giving Albertans a safer, more responsible way to play.” This sentiment encapsulates the bill’s broader objectives of safety and regulation in an increasingly complex market.

Alberta’s iGaming Corporation: Shaping the Future of Gambling

The act will establish the Alberta iGaming Corporation, tasked with the regulation, licensing, and oversight of iGaming operations within the province. This will pave the way for private gambling platforms to apply for licensure, with an anticipated launch date set for early 2026.

Notably, industry giants are poised to enter Alberta’s marketplace. Flutter CEO Peter Jackson has confirmed that FanDuel is preparing to launch operations in the province next year, a trend likely to be mirrored by other leading sports betting platforms, following Ontario’s model initiated in 2022.

Ontario as a Benchmark for Success

Ontario’s successful iGaming market currently boasts 49 registered operators and 84 compliant gaming websites under the supervision of iGaming Ontario (iGO). This progressive landscape has set a benchmark for other provinces to emulate.

The Canadian Gaming Association heralded Ontario’s model, asserting that a regulated iGaming landscape can prove to be competitive, profitable, and secure. Since its inception in 2022, Ontario’s regulated sector has generated over CAD $2.4 billion in gross gaming revenue, contributing a noteworthy CAD $490 million in tax revenue to provincial coffers.

The province enforces a competitive tax rate of 20%, and Alberta is likely to follow suit. Proponents predict the potential for annual tax revenues between CAD $50 million and CAD $100 million once the market is fully operational.

Combating the Gray Market: A Necessary Focus

Currently, PlayAlberta is the sole legal gambling platform in Alberta. Nevertheless, numerous operators continue to thrive in the gray market. Notably, Stake, a prominent online casino provider in Canada, has garnered significant attention, especially with endorsements from celebrities like Drake, who engages audiences through live betting streams on platforms like Kick.

While Stake operates without official licensing in Ontario, it plans to launch a dedicated site, Stake.ca, to comply with iGO regulations. A similar approach is expected in Alberta as the market opens.

Ontario’s reforms have markedly reduced the prevalence of unregulated gambling, decreasing the market share of unlicensed operators from approximately 70% pre-legislation to just 13.6% last year. Alberta anticipates a comparable trend, aiming to draw gamblers away from unregulated platforms toward licensed operators.

Conclusion

Alberta’s legislative advancements signal an exciting new chapter for the province’s gambling industry. By establishing a regulated iGaming framework, Alberta is poised to harness the economic benefits of a legally compliant market while ensuring player safety and security. As the landscape evolves, industry stakeholders and consumers alike will be watching closely to gauge the impact of these transformative changes.

About the Author

Adam Roarty brings extensive experience in the gambling sector, having navigated the nuances of content creation and editorial roles across prestigious platforms such as Oddschecker, CoinTelegraph, and Gambling Industry News. His expertise and insights into sports betting and online gaming position him as a trusted voice in the industry.