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Soft2Bet has announced its intention to enter the Alberta regulated iGaming market, subject to regulatory approval, positioning the company as one of the early movers ahead of what analysts project could become a $700 million annual market at maturity.
The announcement, dated March 10, 2026, builds directly on the company’s existing Canadian footprint through ToonieBet, its Ontario-facing brand. Alberta would mark the second province in Soft2Bet’s North American portfolio.
Alberta’s Regulatory Framework
Alberta’s market structure was established through the iGaming Alberta Act (Bill 48), which received royal assent in May 2025. The legislation replaced the province’s single government-run platform with an open, competitive licensing system. Two bodies now oversee the market: the Alberta iGaming Corporation (AiGC), a Crown corporation responsible for commercial operations, and the Alberta Gaming, Liquor and Cannabis Commission (AGLC), which handles licensing and compliance.
Registration for operators opened in January 2026. Several competitors have already moved into the pre-registration phase. PointsBet Canada opened pre-registration for Alberta residents in early February, while the AGLC formally opened its registration process on January 13 following amendments to the Gaming, Liquor and Cannabis Regulation.
The revenue projections attached to the market are significant. Industry analysis from Citizens JMP Securities, cited in Soft2Bet’s announcement, places the province’s potential annual iGaming revenue above $700 million at full maturity. Alberta has the highest GDP per capita in Canada and the country’s youngest adult population — two factors the company cited in its market assessment.
Ontario Experience as Template
Soft2Bet entered Ontario when Canada’s first open iGaming market launched in April 2022. Its ToonieBet brand was designed around Canadian cultural references and local player preferences — a localization approach the company says it intends to replicate in Alberta.
David Yatom Hay, General Counsel at Soft2Bet, outlined the company’s approach in the announcement:
“Innovation is paramount at Soft2Bet, and our goal is to develop exciting products that meet our customers where they are most comfortable. As we evaluate our entry into Alberta, pending regulatory approval, we are committed to delivering localized, engaging experiences that reflect the unique preferences and culture of each market.”
The company’s localisation strategy centres on native-language support and culturally adapted brand identities rather than deploying generic white-label products across new jurisdictions. For Alberta, that framework would be applied from the point of market entry rather than retrofitted after launch.
Broader Expansion Context
The Alberta announcement is part of Soft2Bet’s stated 2026 strategy to enter multiple new regulated territories. The company reported 85% revenue growth in its most recent financial results and outlined ambitious expansion targets for the year, with regulated North American markets forming a central part of that roadmap.
Soft2Bet holds more than 22 licences across 12 jurisdictions and operates its proprietary MEGA platform — a gamification layer it describes as a core retention and engagement tool. The company has positioned MEGA as a differentiator in competitive markets where product breadth alone does not drive player loyalty.
Alberta’s market launch is expected in Q2 2026. Several operators have already confirmed their intent to enter. The province’s competitive dynamic at launch will depend in part on how quickly the AGLC processes applications and whether the AiGC’s technical requirements create meaningful differentiation between registered operators and those still working through the approvals process.
Source: Soft2Bet
