Betty Canada revenue jumps 113%, enters Alberta

• Betty Canada generated $90.2 million in Q2 net revenue, up 113% year over year and 11% quarter over quarter.
• Active players reached 167,000 in June, more than double the 81,000 recorded a year earlier.
• Betty Canada entered Alberta on July 13, becoming a multi-market operator for the first time since its 2023 Ontario launch.

Betty Canada reported $90.2 million in net revenue for the second quarter of 2026, up 113% year over year and 11% quarter over quarter, the company announced.

The Toronto-based operator also entered Alberta on July 13, becoming a multi-market business for the first time since launching in Ontario in February 2023.

Record revenue quarter

The result builds on a strong start to 2026. Betty Canada had already reported $81.2 million in Q1 net revenue, a 155% year-over-year increase.

EBITDA for the second quarter reached $8.4 million, with June alone delivering $3.7 million, which the company described as its strongest monthly result since launch.

Active players climbed to 167,000 in June, more than double the 81,000 recorded in the same month a year earlier. The company said marketing spend was trimmed by 11% amid softer demand and competitive pressure during the World Cup.

Customer acquisition cost, which factors in media spend, verification and welcome bonuses, rose to $352 regardless, which the company attributed to continued investment to protect market share.

Organic and referral channels played a larger role in the quarter, accounting for roughly 53% of the 53,700 new depositing customers acquired, reducing reliance on paid marketing as seasonality softened paid volumes.

Alberta goes live

Alberta’s regulated iGaming market opened at 00:01 on July 13, with Betty Canada among 22 operator sites live from day one. The company secured its license from the Alberta Gaming, Liquor and Cannabis Commission in the first quarter of 2026, joining a wave of registered operators entering the province.

Competition in the new market has been intense. DraftKings opened its sportsbook and casino in the province in mid-July, and PENN Entertainment brought three brands online the same week.

FanDuel also launched its casino and sportsbook, and bet365 marked its entry with a CFL partnership. Entain’s Sports Interaction and PartyCasino brands joined the regulated market on July 23.

Betty Canada said Alberta ranks as Canada’s third-largest province by GDP and the largest by GDP per capita.

The operator said a pre-registration campaign generated more than 10,000 sign-ups before real-money play began. The operator expects the province to reach 35% to 40% the size of its Ontario operation at maturity, with annual revenue run rate tracking toward $60 million by the end of 2026, the company said in a statement.

Chavdar Dimitrov, CEO of Betty Canada, said on LinkedIn:

“The teams prepared and executed the Alberta launch seamlessly. Hats off to everyone at Betty that was part of this project. We are committed to securing the #1 position in the new market from the start!”

Retention hits record

User retention also improved during the quarter. The March cohort posted a 61.2% one-month retention rate, an all-time high for the operator, which it credited to improvements in onboarding and reactivation within its CRM operations.

Betty Canada also launched new loyalty features in Q2, including a card-collecting mechanic called Collections and a game called Wheel of Wins. The company said its rewards optimization strategy cut the rewards-to-GGR ratio to 28% in Q2, down from roughly 30% in Q1, without materially affecting rewards for its highest-value players.

Betty Canada now runs three franchises across Ontario, Alberta and the UK, where it launched in June. The Alberta result will be an early test of whether that franchise model translates beyond Ontario as the operator pushes toward its stated goal of the top spot in the province.