In Canada, the only legally competitive iGaming and sports betting market is in Ontario. However, Alberta is next in line to get a competitive market and several sportsbook operators are excited about the upcoming launch. Alberta officials have not given a set date for when the iGaming and sports betting market will officially open. However, they have been able to confirm that Alberta will 100% be the next competitive betting market in Canada. The Ontario sports betting market first launched in April 2022 while provincial lotteries began accepting single-event sports wagers in August 2021.
Dale Nally, the minister of Service Alberta and Red Tape Reduction, spoke at the Canadian Gaming Summit in June. He confirmed that Alberta is working on the framework to establish a regulated market. Nally noted that it will include online sports betting and an online casino modeled after Ontario. In a Q2 session, NorthStar Gaming, Penn Entertainment, Rush Street Interactive, and Super Group all mentioned how successful a competitive market in Alberta could be.
The Score could be a leading sportsbook in the Alberta market
In 2021, Penn purchased the Score for $2 billion. Upon acquiring the Score, Penn took the sportsbook out of the U.S. market. They wanted to bring the company back to their home in Canada and let ESPN Bet be their source of revenue in the United States. During a Q2 fiscal report, Penn CEO Jay Snowden said he was happy with the Score’s performance in Ontario. Snowden even mentioned how the Score has the potential to be a top sportsbook in Canada. The CEO has this to say.
“It’s not just a Toronto or Ontario thing. So given the success we’ve had in Ontario, and given that Alberta will have very similar tax rates as we understand it, and be both OSB and iCasino, we think it’s going to be a really important North American market for us, probably a top three or four market for us.” – said Snowden
Rush Street Interactive operates the BetRivers brand and they’re optimistic about how successful they can be in Alberta. CEO Richard Schwartz said Alberta has the highest per-capita spending on gaming in Canada. Additionally, NorthStar CEO Michael Moskowitz anticipates success for his company once Alberta launches their competitive market.
