Betway ‘ready and waiting’ for regulated Alberta…
Sports Game · 2024-08-08

Betway ‘ready and waiting’ for regulated Alberta…

Betway is already a visible brand in Alberta, and Super Group CEO Neal Menashe said this week that the company has keen eyes on how the pathway towards a regulated market in the province develops.

“In Canada, obviously, there is regulation coming in Alberta,” Menashe said on Super Group’s Q2 earnings call on Wednesday. “We are super ready for it. Everything we did in Ontario, we’ve learned how to do it even better. So the teams are ready and waiting when Alberta regulates.

“Across the board in all these markets, we are optimizing everywhere. So in Canada, Alberta would be no different than Ontario.”

Super Group’s Q2 earnings call came after the company posted results reflecting its “strongest quarter ever.” Revenue hit €415 million ($622 million CAD), up 9% from the previous year. Betway revenue was up 7.6% year-on-year to €246 million ($369 million CAD). The company credited the African and North American markets for the growth.

iGaming continued to dominate, making up 80% of revenue across all jurisdictions company-wide. North America, including Ontario’s regulated market and other unregulated markets such as Alberta, was the Spin casino brand’s strongest region, with €112 million ($168 million CAD) in revenue.

While Betway is shutting down its U.S. sports betting operations in a move Menashe suggested could cost as much as €45 million ($67 million CAD), both Canadian sports betting operations and iGaming operations continue to grow.

Betway told Canadian Gaming Business last month that its operations in Ontario will not be affected by the U.S. closures.

When Betway launched in Ontario in August 2022, it benefited from the fact it already had a sizeable presence in the province before the regulated market opened that April.

Data from Wells Fargo released in the early weeks of Ontario’s regulated market showed that Betway had the second-highest number of daily active users in Ontario after only theScore. Morgan Stanley also estimated around the same time that Betway accounted for the highest percentage of iGaming and sports betting smartphone app downloads in Ontario on a monthly basis for the whole of 2021.

Just like in Ontario, if Betway does indeed come to Alberta soon after the Wild Rose Country market opens up, it won’t exactly be an unknown quantity.

The brand has been prominently advertising in the province for years, despite not being able to operate within the legal confines of the province’s gaming market, which is still a monopoly for Alberta Gaming, Liquor and Cannabis’ Play Alberta platform, as far as regulated online gaming goes.

Thanks to a partnership with the NHL, ads for betway.net have adorned advertising boards at Rogers Place during Edmonton Oilers games for years and were prominent again during this year’s Stanley Cup Final. The company said, per CBC News, that the betway.net site is its “global website” that doesn’t feature gambling content. betway.ca is the Ontario-accessible betting site; betway.net provides sports news and a big dose of Betway branding.

Rogers said that between April 20 and June 24, the Stanley Cup Playoffs broadcasts on Sportsnet reached 25.4 million Canadians (66% of the population) and averaged 1.5 million viewers. Game 7 of the Final was Sportsnet’s most-watched broadcast ever with an average minute audience of 7.55 million across Sportsnet, Citytv, and CBC. Rogers said that game alone reached 15 million Canadians, or 39% of the country’s total population.

That’s a ton of exposure for Betway. How much of that visibility would translate to sign-ups if and when the brand does begin taking bets in an open Alberta market, only time will tell.




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