According to the company’s quarterly update, Betty Canada said net gaming revenue rose to $90.2 million in the second quarter of 2026, up 113% from a year earlier and 11% from the first quarter. EBITDA for the period was $8.4 million.
Active players reached 167,000 in June, up from 81,000 a year earlier. Betty also said it added more than 53,000 new active depositors in the quarter, with 53% coming through unpaid or organic channels, including Refer-a-Friend initiatives.
Customer acquisition cost climbed to $352 in the quarter, reflecting the company’s willingness to spend for market share. Revenue per average active player was $183, and player retention hit a record 61.2% in March.
By the end of Q2, Betty said its annualised run rate had reached about $378 million, while monthly net revenue topped $31 million in May. The company said sustained revenue growth, improving gross margins and disciplined operating leverage had made it a consistently EBITDA-positive business.
Much of the quarter was spent preparing for Alberta, which opened its regulated commercial online gaming market on 13 July. Betty said Alberta was its most immediate growth opportunity, and it had secured more than 10,000 player registrations before accepting its first wagers. It said it was among 22 operators available at launch and had built out customer service, business operations, VIP management and live operations teams.
Preparations also included converting an earlier Alberta Gaming, Liquor and Cannabis licence and stepping up marketing in Edmonton. CBC reported that Alberta’s Bill 48, the iGaming Alberta Act, was passed last year to create the Alberta iGaming Corporation and regulate online gambling sites. Provincial officials say the market is meant to pull players away from black market sites, which they estimate account for about 65% of online gambling in Alberta, while critics argue the law does not go far enough on harm reduction.
Betty launched in Ontario in February 2023 as a slots-focused brand aimed primarily at women. The company says its customer base is now split evenly between men and women, with a slight female majority, after entering 2025 with a decentralized franchise model designed to support international expansion. It has since secured a UK operating licence and gone live there on 1 June, while also saying it is expanding into the US and Latin America.
Betty estimates Alberta could reach an annual recurring revenue run rate of $60 million by the end of 2026, and at maturity be 35% to 40% the size of its Ontario operation.
