Key Points
- Stake Canada got its Alberta licence on the 6th of October and is aiming for a 12th October launch, just one day before the grey market deadline runs out.
- The launch still depends on getting an operating agreement sorted out with the Alberta iGaming Corporation, and that’s still not been signed off on.
- H2 Gambling Capital reckon the Stake brand raked in around C$921 million in Canadian market revenue outside of provincial regulation.
Stake Gets Alberta iGaming Licence, Now Eyeing a 12 October Launch
Canadians have had access to Stake without needing permission from a specific province for years. But that’s all about to change in Alberta now. Stake Canada Ltd has got its full Alberta licence and is gunning for a 12 October launch. That’s one day before Alberta’s grey market deadline, and there’s a catch: one signature is still needed first.
Just One Signature Stands Between Stake and a Launch
Stake Canada, a subsidiary of Australia’s Easygo Group and Stake Gaming, has made their way through Alberta’s process in a pretty straightforward way, so far:
- 24 September: Stake Canada got themselves registered as an iGaming operator with the Alberta Gaming, Liquor and Cannabis (AGLC) people.
- 6 October: They got their full licence.
- 12 October: Planned launch date, all being well, and assuming they get their operating agreement with the Alberta iGaming Corporation (AiGC) sorted out.
- 13 October: That’s the day the grey market operators in Alberta have to transition over to the proper, licensed system.
Licensing and registration don’t let Stake take bets on their own just yet. In Alberta, the regulators, the AGLC, are in charge of the operators, while the AiGC handle the commercial side of the market. Every operator needs to get an operating agreement with the AiGC cleared before they can go live. Until Stake’s agreement has been confirmed, 12 October remains a target date rather than a set launch day.
A Three-Month Extension Made the Timing Possible
Alberta opened up its competitive iGaming market on the 13th of July, making it the second province in Canada to go private since Ontario. Some of the grey market operators could ask the AGLC for a three-month extension to get into the licensed system, and Stake was one of them. Country manager Kris Abbott explained why they needed that bit of extra time.
“We asked for the transition extension back in July when we were still getting our platform sorted out and getting certified,” Abbott told Canadian Gaming Business. “We got that three-month extension and have been able to get everything ready in time.”
Abbott used to run the Canadian operations for Coolbet and Betano, and his tone really came alive in the company’s launch announcement. “We’re here to bring that unique Stake experience to Alberta’s super engaged player base,” he said.
Board member Birgitte Sand kept things a bit more measured, saying Stake’s approach is built on being prepared, being accountable and being compliant. It’s worth noting she’s a big deal, because Gaming News Canada reported she was one of the people who helped create the regulated market in Ontario.
What Changes After 13 October?
Once the transition window closes, Alberta is going to be taking a tougher line with unlicensed sites. Patience has worn off, and it’s all about pressure now. At the G2E in Las Vegas, Minister Dale Nally laid it out: the province will use every trick in the book to shut them down. That means cease-and-desist letters, action against payment processors… Nally even mentioned that app stores and social media could help limit access to those unlicensed products.
Stake’s timing works out that it’ll be inside the licensed group just before the pressure really starts coming down. The AiGC’s list of registered sites has already got dozens of approved products from some of the bigger international operators, and Nally’s expecting about 60 licensed sites by the deadline.
From Grey Market Leader to Licensed Newcomer
What’s really interesting, though, is what Stake brings with it into Alberta. Its sister platform Stake.com, which is licensed in Curaçao and also owned by Easygo, still does business in Canada outside of provincial rules. And H2 Gambling Capital’s got data that says the Stake brand is now the number one grey market brand in Canada. They reckon it’s got 31% of the market. That’s a massive C$921m in Canadian market revenue. Only Betway owner Super Group outscores that among unregulated operators. Stake also has a pretty big marketing deal with Drake, the Canadian musician.
Ontario, which is Canada’s biggest regulated market, is still out of bounds for Stake, though. They’ve been trying to get in there for over two years, but their application is still with the Alcohol and Gaming Commission of Ontario, and they’re not getting any clear word on when they’ll get a decision. “We think we’ve got everything they need,” says Abbott, but they don’t have any kind of timeline, and it’s starting to look like Alberta is their only chance. If the AiGC agreement is signed, that will be Stake’s first licensed market in Canada.
Why Alberta Wanted Brands Like Stake on Board?
Alberta’s numbers make it pretty clear why they’re going all out to get licensed operators in the door. They reckon 70% of their total iGaming market is still in the hands of unregulated operators. Blask’s report put that figure up to a whopping 88% when the PlayAlberta monopoly was still in place. And the offshore operators are making more and more money. Blask’s Competitive Earning Baseline grew by 40.2% in 2025, which is way ahead of the 23.1% increase for licensed domestic brands.
The way the money shakes out also gives some clues about what’s in it for new operators. First, 3% of gross gaming revenue goes to First Nations and social responsibility funding, that’s a good thing, of course. Then, the net revenue gets split: 80% goes to the operators and 20% to the province.
Looking ahead, H2 Gambling Capital reckons there’ll be about C$850m in online casino revenue by the end of the year in 2027, and online sports betting is forecast to bring in another C$142m. So Stake’s two-product launch is going to be going after both of those markets at once.
A Brand With a Rather Troubled Past
Stake’s UK history outside of Canada adds an extra layer of complexity to its Alberta debut. In February 2025, a UK Gambling Commission notice announced that Stake.uk.com was about to lose its licence to operate. TGP Europe, the guys who’d been running the site under a white-label arrangement, agreed to shut shop by 11th March 2025. All this came after the Commission investigated a super popular video on social media that showed the Stake logo plastered all over it. Stake later sort of downplayed it all, saying they were leaving the white-label deals behind and going straight for direct licences from now on.
Expert Analysis: Alberta Takes a Punt on Its Biggest Grey Market Rival and We Support the Decision
Now let’s get to the bit that all the press releases on this deal are completely glossing over. According to H2, Stake is Canada’s second biggest grey market brand, with about C$921 million in revenue from betting. And what do you know? Alberta has just given that brand a licence, complete with a bit of a get-out-of-jail-free card, just in time for enforcement to come into effect, days from now.
Some people might see this as a nice reward for Stake’s years of operating outside provincial rules, especially those local operators who were all like, “Oh wait, we’ll just stick to the law and take bets when the time is right.” Pure Canadian Gaming has been trying to position itself as the go-to Canadian alternative to those big multinationals, but it’s the homegrown operators who are really getting steamed about this.
To be honest, our view is a bit more nuanced, and I think a lot of readers will disagree with me. The thing is, you get more players to stick around in a regulated market when the brands they already use are in it too. Ontario figured this out a while back by letting former grey market operators apply. And as a result, their offshore share really plummeted, even if there were other factors at play. But we reckon having a licensed Stake is better for Alberta than having it banished to the outer reaches of the internet. Not that this is any kind of seal of approval for Stake’s behaviour, we’d still keep a close eye on them.
The real test of this licence isn’t going to happen on the day it launches, but after 13th October. If Nally actually goes after the payment processors, then licensed Stake will basically be the easiest way for Albertans to get to Stake at all. But if enforcement doesn’t actually happen, then the offshore Stake.com is just a mouse click away, and this licence won’t mean as much. In our opinion, Alberta made the right decision here; now it just needs to make sure it polices its own turf.
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