Stake Becomes Canada's Most Valuable iGaming Brand

Stake has become the most valuable online casino brand in Canada, with its value reaching $1.8 billion despite holding no license in any Canadian province, according to a report from CasinoCanada published via The Globe and Mail.

The study covered 301 gambling brands, finding Stake to be worth more than any licensed Canadian operator and placing it among the country's top 10 largest brands overall. Illegal platforms continue to attract a significant share of Canadian players, with 33.53% of players betting on such sites and combined wagering volume on unlicensed platforms reaching $512 million, compared to $348 million on licensed platforms. Illegal market share is particularly pronounced outside Ontario, reaching 93% in Saskatchewan, 88% in both Alberta and Manitoba, 83% in Quebec, and approximately 49% in British Columbia. Analysts attributed much of the unlicensed sector's popularity to products and payment methods unavailable through licensed operators.

The trend is also reflected among other market participants: Canadian-facing operator Rainbet grew 621% over the past year, while activity on unlicensed prediction markets increased 161% over the same period. The findings underscore a persistent gap between Canada's provincially regulated gambling framework and the broader appeal of offshore platforms offering products and flexibility that licensed operators currently cannot match.