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The legal Alberta iGaming marketplace has only been open since mid-July, and it is already booming.
The Alberta iGaming Corporation released its first market report for operations through September, and it shows money is flowing in and out of the legal online casinos and sports betting sites.
In September alone, almost C$1.28 billion was wagered on legal betting sites in Alberta, Winnings totaled more than $1.22 billion, leaving $56.6 million in gross gaming revenue. The province keeps 20% of revenue.
“Early results indicate that Albertans value the strong oversight and greater accountability offered by a regulated market,” AiGC CEO Dan Keene said in the release. “We hope to continue educating Albertans about the risks associated with illegal offshore sites and move them onto regulated platforms where they have rights and recourse when iGaming.”
As of Monday, there are 51 regulated sites online in Alberta, which is the second Canadian province to host a regulated marketplace after Ontario launched in April 2022.
“Regulation matters,” Keene said. “This is a market where approved iGaming Operators are held to high standards of accountability, and where revenue stays in the province to fund programs and services Albertans rely upon.”
Alberta sign ups strongest in July
As of September, there were 388,585 active player accounts. Those are not unique players as some players have more than one betting account.
Nearly 60% of all accounts were created in the 18-day period of July the sites were live.
The average revenue per player was $146 per month. That’s comparable to two dinners out on the town.
Slots accounted for 75.6% of the money spent on iGaming sites. Sports betting was 19.5% of the total and live table games accounted for 4.9%.
