Alberta to Follow Ontario’s AGCO Model
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The provincial gambling policy is cautious if we compare it to Ontario’s. Here licensed operators fight for gamblers who were previously using offshore platforms. Alberta has been suffering loss in profit since the lack of regulated local operators that would offer decent player protection.
Ontario has captured over CAD $1.4 billion in tax from the regulated iGaming market since 2022. Online casino games made over CAD $2.4 billion in Ontario, while sports betting made CAD $724 million. The province currently has 50 licensed operators and taxes iGaming and sports betting operators 20%. This is undoubtedly fantastic for the city and residents.
The Alcohol and Gaming Commission of Ontario or AGCO oversees operators and ensures they provide responsible gambling tools such as a self-exclusion program and time out sessions. This is what Alberta strives for too.
Income is Generated From Regulated iGaming in Alberta
Everytime Top casino fans from Alberta choose offshore sites,the province does not get any tax revenue. Therefore, they lose on regulatory oversight. The economy of Alberta relies heavily on oil and gas, so a regulated iGaming industry could be an ideal way for the province to diversify and it will help provide jobs. Learning from the success of Ontario, Alberta has great potential to create income and technology jobs in the industry.
Alberta plans to have its own regulator, Alberta iGaming Corporation, when its new regulatory regime starts. The (AGCL) Alberta Gaming, Liquor and Cannabis is aiming to act as the regulator of the iGaming market.
There is no doubt that with the new tariffs connected to Canada imposed by Donald Trump and America have affected the country. The Ministers of Finance in various provinces across Canada have seen the financial potential in the success of the Ontario iGaming model.
Currently, Play Alberta is the only regulated online gambling platform in the province. All the revenue made through the platform goes back to the government.
The Big Decision
Alberta now has a decision to make: regulate gambling demand and protect local players or stick to the same model and have residents use unlicensed sites and keep losing big revenue.