Stake Canada Ltd just secured iGaming registration from Alberta Gaming, Liquor, and Cannabis (AGLC), the province’s iGaming regulator, taking steps toward entering Canada’s regulated online gambling markets.

A subsidiary of the Australian Stake Gaming and Easygo Group, Stake Canada Ltd was registered specifically to see the Stake brands spread into Canada. The move seems to have paid off for the Stake Group, as the operator will be moving forward with full registration and launch in Alberta within the coming weeks, while still awaiting approval in Ontario.

As things stand, Stake plans to launch an online sportsbook and casino in Alberta, while Alberta online poker and fantasy sports will not be part of its initial offering.

In the words of Kris Abbott, Stake Canada’s General Manager: “We’re a registered operator as of today, and we expect that licensing and an operating agreement are not too far behind. We’ve gone through the process, and it’s been a good one. I have to commend the regulator in Alberta, from the government to the AGLC to the [Alberta iGaming Corporation]. They’ve done a great job putting the market together, and by all accounts it’s going well. We’re excited to join.”

Stake Is Going the Regulated Route

The Stake brand has exploded on the international market, thanks to its offshore casino platform regulated in Curaçao, which has been offering online gambling services to players across the world and Canada alike.

According to recent stats, Stake has been generating close to a billion Canadian dollars a year from its offshore operations in Canada alone and has held over 30% of the overall online gambling traffic in the country.

However, it appears that Stake is now looking to step away from the offshore model when it comes to Canada and join the country’s regulated markets, which currently exist in Ontario and Alberta.

Stake’s quick expansion into the Alberta market has been remarkable. The province only opened the market up to private operators on July 13 and gave offshore operators three months to achieve full compliance, which Stake Canada has now done in full.

Now approved by AGLC, Stake will be awaiting a full gaming license and the operating agreement with AGLC, all of which are merely matters of protocol at this time.

On the other hand, the operator will wait a little longer before it can launch in Ontario, as the operator took time to develop an in-house gaming platform to launch in the province.

According to Abbott, Stake has submitted all the necessary documentation to AGCO and is now waiting to hear back with approval for its Ontario operations as well.

Can We Expect Stake to Launch Online Poker?

Stake has had moderate success with its online poker products to date. Internationally, Stake.com offers a real-money poker platform that is open to players from most countries and is based mostly on crypto transactions, while Stake US poker offers a sweepstakes poker platform that caters to players from a few dozen states.

Neither of the two products has been among the industry leaders so far, but Stake Poker is a recognized brand with a lot of potential.

Yet, launching online poker products in Canada’s regulated markets presents many challenges, not the least of which are the restricted player pools across the provinces.

Should Stake launch a poker room in either province, Ontario online poker players and those in Alberta would initially be limited to fenced-off player pools, which could hardly match the size and scope of Stake’s other operations.

For the time being, it’s likely that Stake will stay away from launching online poker in Alberta or Ontario, while such moves could be expected if the two provinces manage to reach an agreement that would allow them to merge their player pools.

While Stake Poker may remain a bit of a distant dream for players in Canada’s two regulated iGaming markets, its online casino and sports betting products are coming to Alberta very soon, and should be launching in Ontario before the year is over as well.