Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Canadian Gambling Companies on the Rise in 2026
July 9, 2026
Source: Bazoom
The Canadian online gambling sector is largely dominated by foreign brands - but domestic operators, and local companies supplying back-end tech or other services to the big names, are also booming. With the market now worth $9.5 billion a year in revenues, picks and shovels are proving a profitable investment.
This piece will look two key domestic brands in Canada's online gambling space, as well as why they're currently not on the level of international competition. And then analyze the potential state of the market going forward, including a new launch in Alberta.
Direct Local Operations are Limited, But Not Insignificant
Canada's online gambling system is currently fragmented. The most populous province of Ontario has it's own regulated and licensed market, with Alberta soon set to follow that model. The other states are served by a mix of provincial-backed operators and offshore operators across the globe.
One of the biggest international operators serving markets across North America is Stake. A look at something like the Stake promo code page at Sportsbook Review tells you there's a lot of interest in this one operator's offers and the comparison sites that break them down for players. If you want to compare the offers, you can find more information here, which also shows how competitive the market is, with customers expecting detailed analysis before making a choice.
Despite being a popular market, the prior state of regulations has limited the capacity for Canadian gambling brands directly serving Canadian players. Before Ontario opened its market in 2022 such an operation would have been illegal in many provinces. But in 2026, this has changed. There are now several large Canadian-based gambling companies that directly supply Canadians and keep revenues and taxes in the local economy.
Examples include theScore Bet, Betty and Bet99 among others. Although these brands can't compete with international giants that dominate the market, they are nevertheless making respectable revenues. TheScore Bet is probably the biggest and most established operator. However, although still based in Toronto it is now a subsidiary of American giant Penn Entertainment.
As well as B2C online gambling, Canadian companies are also big in the B2B gambling space. Bragg Group, based in Toronto, provides back-end gaming services for many international gambling brands including those now licensed in Ontario, while Geocomply, based in Vancouver, is a global provider of geolocation technology used to ringfence online gambling in certain jurisdictions worldwide.
Alberta's Online Gambling Market Launch Could be a Key Moment
Canada's homegrown gambling operations have done well from the Ontario market. However, with big competition from established US brands and offshore operators elsewhere, expanding the locally-licensed market to Alberta will be seen as a massive opportunity.
All three of the Canadian-based betting platforms mentioned above have applied for a license in Alberta, to launch when the market opens.
With the total custom expected to hit an estimated $400 million operators (before the 22% revenue sharing agreement with province) in just the opening half year. That means even if local operators take a smaller slice of the pie than giants like DraftKings and FanDuel, the revenue potential is still significant.
Provincially owned betting platform PlayAlberta may also remain a significant player. Although it failed to attract enough attention away from the offshore market for the government to be entirely happy with it, the site still has its players. However, rumours are now the government is going to get tax money from private operators it no longer sees the expense of running it as worthwhile and so rumors are it could be for sale to private operators.
Then there are the back-end tech suppliers poised to profit, whoever wins the market share race in Alberta. Among Bragg Gaming's clients are many local and international operators - including both DraftKings and FanDuel.
Challenges and the Market Going Forward
While the Canadian gambling market is booming, and possibly set to see even further growth when Alberta's market opens, things have not always been straightforward for operators or public opinion.
Politicians and the public are more aware than ever of responsible gambling, and compliance costs for Canadian-based gambling operators are high. They also face advertising restrictions that international offshore operators do not nationally, although regulators in Ontario have been looking to curb both kinds of gambling advertising.
See: AVAX One Plans 10 MW AI Data Center In Alberta
Customer acquisition costs are also high, especially when operators compete on a new market. Alberta will offer another chance for smaller Canadian gambling brands to start on a new playing field against the big operators. However the financial clout of FanDuel, for example, often allows them to offer bigger bonuses. Because they can more easily swallow the cost of a player getting lucky of the bonus and winning big.
Nevertheless, in a competitive market that is new for Albertan customers, a locally-based option may prove well placed. Only time will tell. Certainly many companies are betting on Alberta, with more than 45 operators registered for launch ahead of the July 13 opening day. With Ontario's market posting huge revenues and tax dollars since 2022, few would bet against a similarly successful launch.
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