iGaming operator Stake has taken a significant step toward joining Alberta's recently launched market for regulated online gambling.
Alberta joined Ontario as the only two provinces in Canada to welcome multiple private-sector online gambling operators when it launched its competitive market on July 13.
Key Takeaways
- Stake is listed on the Alberta gaming regulator’s website as a gaming registrant.
- The next step is for Stake to agree to terms with Alberta’s commercial overseer.
- Stake recently expanded to several countries in South America.
Stake is on the doorstep of launching in the regulated market of one of Canada’s western provinces, as first reported by Canadian Gaming Business.
The Alberta Gaming, Liquor and Cannabis Commission (AGLC) confirmed that Stake has completed at least the first part of its registration process and is listed as a “Gaming Registrant” on its website. An entity named “Stake Canada Ltd.” was listed as “iGaming - Operator” under its class of registration with a stream of “iGaming.”
ALGC’s iGaming website only lists operators and suppliers that are officially registered and have paid their initial fees.
The next step in the process is for Stake to enter a commercial agreement with the Alberta iGaming Corporation (AiGC). That process does not appear to be completed, as Stake is not included in the 31 operators listed on the Corporation’s website at the time of writing.
The AiGC oversees commercial contracts and the 80/20 revenue-sharing split, under which 80% of revenue is retained by operators and 20% is held by the government. That’s after 3% of gross gaming revenue is removed upfront for First Nations and mental health and addiction treatment programs.
The AGLC is primarily responsible for vetting iGaming operators and oversees the regulatory aspects of the market related to compliance and enforcement.
Enjoying Covers content? Add us as a preferred source on your Google account
Stake continues to expand
While many jurisdictions require iGaming operators to secure land-access partnerships with retail facilities, Alberta does not. Online-only operators can still apply for and receive approval once they reach agreements with the AGLC and AiGC.
Every licensed operator must follow the AGLC’s Standards and Requirements for Internet Gaming rulebook. This details the AGLC’s oversight methods, responsible gaming standards, operators’ responsibilities, security methods, player protection and more.
There is also a centralized self-exclusion system that allows gamblers to ban themselves from online platforms, retail gaming facilities, or both. The centralized system ensures that individuals don’t have to ban themselves one platform at a time.
Stake operates all over the globe, but it recently placed an emphasis on growing in the Americas. The company launched in Argentina shortly before the World Cup, building on its South American presence in Brazil, Peru, and Colombia.
Stake also joined Mexico in May, meaning that it could soon be legal in two of three North American countries. The Stake.com platform is not legally accessible in the United States, but the company’s Stake.us social casino is available for American players.
