Alberta is gearing up to evolve its online sports betting and internet casino gambling markets, with government authorities advising the private sector to be prepared for quick changes in the coming months. Dale Nally, the Alberta Minister of Service Alberta and Red Tape Reduction, highlighted the province’s progress towards liberalizing the iGaming sector at the recent Canadian Gaming Summit in Toronto. However, the province has not yet set a specific date for the implementation of these changes.
Nally emphasized the province’s desire to shift to a freer system with an “open and accessible” platform that would accommodate not only bet365, DraftKings, and FanDuel but other betting platforms to diversify the products offered to Albertans. This strategy is consistent with the actions of Ontario, which recently opened a new unconfined iGaming market in April 2022. Like Ontario, the Alberta government plans to remove the caps on the number of operators. It will not enforce the operational links or “tethering” to ensure proper competition in the marketplace exists.
The financial loss to Alberta is substantial, as the report estimates that the estimated annual revenue from iGaming exceeds $700 million US. This prediction also positions Alberta as a key player in the gaming industry within the North American region. The prospective model aims to incorporate more than just traditional gaming companies, potentially impacting the best sports betting sites Canada and their operational dynamics in Alberta.
The launch timing of new gambling services may be influenced by significant events, such as the Canadian Football League championship event or the commencement of the football season. Certain factors must be taken into account when selecting the appropriate time to introduce these services. The province is also taking some lessons from Ontario’s experiences, especially on issues relating to the transfer of ‘grey’ market participants to a more regulated betting system. Alberta may offer stricter timelines and possibly restrictions on advertising to ensure a fair competitive landscape from the start.
The province and other enterprises are still in the process of discussing the distribution of earnings, which involves the proportion in which the profits will be divided. The current prevailing opinion is that Alberta welfare will not fall below the 20% revenue share observed in Ontario, as these funds are required to enforce regulations and fulfill social obligations.
Furthermore, Alberta is also concerned with the new iGaming framework’s social and economic implications, including the involvement of charitable organizations and Indigenous communities. Negotiations are presently underway with Indigenous groups to ascertain their stance and potentially allocate a portion of the iGaming revenue to their communities’ requirements.
Alberta is already in the process of changing the regulations for iGaming and sports betting. The main goal is to ensure that the market is stable, transparent, and beneficial for the province, as well as to promote healthy and ethical gambling practices.
