Alberta's regulated iGaming market generated $122 million in first quarter
The province's regulated market saw revenue grow from $22.2 million in July to $56.6 million in September.
Alberta's regulated online gambling market generated $122.1 million in non-adjusted gross gaming revenue over its first three months of operation. The market launched on July 13, and revenue grew from $22.2 million in July to $56.6 million in September. The total handle for the period was $2.89 billion. The number of licensed operators grew from 15 at launch to 24 by the end of September.
"Regulation matters," said Dan Keene, CEO of the Alberta iGaming Corporation. "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." The provincial regulator, Alberta Gaming, Liquor and Cannabis, has now issued 42 iGaming operator licenses, with 52 sites currently live in the province. The report from the Alberta iGaming Corporation covers the period from July 13 to September 30. Revenue reached $43.3 million in August, continuing the monthly growth trend. The number of licensed operators jumped significantly just before an October 13 deadline for unregulated sites to join the regulated market took effect.
Casino games were the dominant segment, accounting for 75.6 percent of the revenue in September. Sports betting followed at 19.5 percent, with live casino games making up 4.9 percent. There were 388,585 active player accounts in September, with an average revenue per account of $146. The figures for active accounts are not unique, as players may have accounts with multiple operators.
"Early results indicate that Albertans value the strong oversight and greater accountability offered by a regulated market," Keene said. "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." Alberta and Ontario both retain 20 percent of net iGaming revenue, with operators keeping 80 percent. In Alberta, the province first allocates three percent of gross gaming revenue to First Nations and responsible gambling initiatives before applying the 80/20 revenue split.