Crypto casino operator Stake has secured regulatory approval in Alberta, Canada and plans to launch online casino and sportsbook services on October 12, 2026. The move will bring one of Canada’s largest grey-market iGaming operators into the province’s regulated market, subject to a final operating agreement with the Alberta iGaming Corporation (AiGC).
Stake co-founder Eddie Craven announced the licensing approval in an X post, initially indicating an October 11 launch. However, Stake Canada has since confirmed October 12 as its target date, conditional on completing an operating agreement with the AiGC.
The platform plans to offer online casino games and sports betting in Alberta, excluding poker and daily fantasy sports from its initial offering.
Alberta Opened Its iGaming Market in July 2026
Alberta officially launched its regulated iGaming market on July 13, 2026, becoming Canada’s second province to allow private-sector online gambling operators after Ontario.
Stake Canada Ltd. received iGaming operator registration from Alberta Gaming, Liquor and Cannabis (AGLC) on September 24, followed by licensing approval on October 6.
The operator must still finalize its agreement with the AIGC before it can accept regulated bets. The timeline is significant because Alberta granted certain grey-market operators a three-month extension to transition into the regulated market, with the deadline falling on October 13.
Stake was among the operators granted an extension after applying in July, giving the company additional time to complete its licensing and compliance requirements.
Stake Held 31% of Canada’s Grey-Market iGaming Share
According to estimates from H2 Gambling Capital cited by Canadian Gaming Business, Stake accounted for approximately 31% of Canada’s unregulated iGaming market, generating an estimated C$921 million in Canadian market revenue. That made it the country’s second-largest unregulated operator behind Betway owner Super Group.
Stake’s existing market presence helps explain its push to secure Alberta licensing. The brand already served Canadian customers through its offshore platform before the province introduced its regulated framework.
Once Stake begins regulated operations, Alberta will receive a share of its gaming revenue under the province’s revenue-sharing model.
Alberta’s Revenue Model Gives Operators an 80% Share
Under Alberta’s iGaming framework, 2% of gross gaming revenue is allocated to First Nations initiatives, and another 1% supports social responsibility programs.
After these allocations, operators retain 80% of net iGaming revenue, while the provincial government receives the remaining 20%.
The framework aims to bring existing offshore gambling activity into a regulated environment, generate provincial revenue and strengthen player protections.
Stake was co-founded by Eddie Craven and Bijan Tehrani, who also own the livestreaming platform Kick. Alberta is not the only Canadian market the company is targeting. Stake is also pursuing regulatory approval in Ontario.
Craven has expressed the company’s broader ambition to bring its products to customers in “every market possible.” The planned Alberta launch marks another step in Stake’s expansion into regulated markets across Europe and Latin America, including Italy, Denmark, Mexico and Colombia.
