CALGARY, Alta. - There are many smells you can catch a whiff of at the Calgary Stampede. Burgers being grilled, Oreos being deep-fried (really), and, if you get close enough, maybe even some horse manure that’s in need of being shovelled.
But there’s definitely a whiff of money in the air as well. People are buying those burgers and Oreos by the bucketful, stumping up cash to watch the rodeo in the grandstand (or, if they’re lucky, more VIP-like accommodations), and purchasing all kinds of cowboy attire. I paid $50 for a hat that I’ll probably never wear again and opened my wallet a few times for 50/50 tickets.
That’s Stampede, though. And while the event is drawing thousands of visitors from all over Canada and around the world, the relative wealth in Alberta was apparent during my time in Calgary. There were big mansions and big spenders, and I quickly grasped why the online gambling industry is keen on the province.
- Alberta's new regulatory framework for online gambling launches July 13, with major operators like bet365, DraftKings, and FanDuel entering what is expected to become a billion-dollar market.
- One research firm estimates Alberta's iCasino and sports betting market could generate about $2.8 billion in revenue over roughly its first two fiscal years, with the province receiving a share of the proceeds.
- Some industry experts believe Alberta's success could encourage other Canadian provinces to move away from government monopolies and adopt competitive iGaming markets.
On Monday, that industry will officially get its opportunity to tap into Alberta. The new Alberta sports betting market will go live, and multiple private-sector operators of online sportsbooks and casino sites can begin launching within the province’s new regulatory framework.
The list of companies lining up to launch in Alberta’s competitive iGaming market is long and growing, and it includes big names like bet365, DraftKings, and FanDuel.
Some operators have already taken bets in Alberta and are finally coming under provincial regulation. Others will aim to take their first-ever bet from locals.
DraftKings Sportsbook, DraftKings Casino, and Golden Nugget Online Gaming are set to launch in Alberta on July 13.
— DraftKings News (@DraftKingsNews) July 9, 2026
To celebrate, we'll host a watch party for the World Cup in Calgary at the Wildhorse Saloon, and our employees will volunteer with @FoodBanksAB in Edmonton.
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Early estimates suggest Alberta will be a significant market for operators.
Research firm H2 Gambling Capital estimates online casino gambling in Alberta under the new regulatory framework will generate around C$850 million in gross gaming revenue (GGR) for the fiscal year that will end March 31, 2027. Some of that would be owed to the provincial government, as operators in Alberta will be subject to a tax rate of just over 20%.
H2 is then projecting iCasino revenue will rise to $1.57 billion for the fiscal year that follows, from April 1, 2027, to March 31, 2028.
This doesn’t include online sports betting revenue either, which H2 estimates will hit $142 million for this fiscal year and then increase to $246 million in the one that follows. All told, H2 is forecasting around $2.8 billion in online gambling revenue over a little less than two calendar years.
Fair to compare
Hayden Bee, a North American data analyst for H2, said Ontario is the “primary comparison point” for their expectations in Alberta. The consultancy sees Alberta’s iGaming market as being about 25% the size of Ontario’s, and Alberta's online sports betting market as around 34% of Ontario’s, which is in line with their relative population sizes. Ontario is home to more than 16 million people and Alberta more than 5 million, or around 30% of Ontario's population.
Ontario's online gambling market generated more than $4.4 billion in revenue for the year ended May 31, 2026, the most recent month for which there is data available.
So, the early expectation is that Alberta won’t be as big as Ontario. However, the real impact of the market could be felt in the influence it may have on other provinces in Canada, most of which still maintain legal monopolies for regulated iGaming.
While those provinces only authorize government-owned iGaming platforms, they, like Alberta, are rife with “grey” market gambling, or operators based abroad or outside the province taking bets within that province.
"Interest in Alberta's launch isn't about scale the way Ontario was - it's more of a proof of concept,” Bee said in an email. “If a smaller market like Alberta can succeed, it could be a catalyst for other provinces to shift away from the grey market. For reference, we estimate Alberta will reach the equivalent of the 7th-largest U.S. state for iGaming GGR, and 25th for sports betting GGR in 2028.”
There are some reasons why Alberta could have even more upside for the industry.
Alberta's only authorized iGaming platform, the Alberta Gaming, Liquor and Cannabis Commission's (AGLC) Play Alberta, reported around $250 million in gross iGaming revenue for the fiscal year ended March 31, 2025, the most recent year for which data is available.
However, Alberta's government, citing survey data, believes that only about 30% of all online gambling in Alberta happens with Play Alberta. The rest is with "grey" and "black" market operators that may be regulated abroad or outside the province, but not with the province itself.
If that's the case, then there may be another $580 million or so in revenue already out there in Alberta, as $250 million is around 30% of $830 million.
Alberta's forthcoming iGaming market could eventually generate more than US$700M a year in revenue, according to Citizens JMP Securities analyst Jordan Bender.
— Geoff Zochodne (@GeoffZochodne) June 26, 2024
"If $700M of gaming revenue is met, it would represent the eighth-largest gaming market in North America." pic.twitter.com/E6IJX9DASe
That is some pretty rough math and based on a lot of assumptions. Still, it's worth noting that the province’s average family income, after tax, is around 10% higher than it is in Ontario, according to the most recent data.
Alberta's average age is more than two years younger than Ontario as well. So, it could be a more youthful province with more disposable income.
An analyst for investment bank Citizens estimated in 2024 that Alberta could generate around US$700 million (approximately C$1 billion) in annual revenue by the third year of its competitive iGaming market.
