Another Operator Leaves Canadian Online Gambling Market

Published Thursday, July 24, 2014 - Online-Casinos.com
Another Operator Leaves Canadian Online Gambling Market

The online gambling laws in Canada clearly make the activity illegal unless the punter is on an approved government operated site. That has not stopped thousands of Canadians placing wagers on web sites hosted in other jurisdictions. Efforts to bring in rules that would allow for provincial betting monopolies the right to offer single-game wagers rather than the three-game minimum parlays have been stalled in Canada’s Senate for two years. Bill C-290 has been stymied by the extensive lobbing from sports organizations such as the NHL and NBA that contend the new rules would ruin the integrity of sports.  

The right wing Conservative government of Canada recently proposed anti money laundering legislation which created a concern that there would be regulatory upgrades regarding Canadian related internet wagering web sites.

Canadian players received emails recently from TripleBet Limited stating its “regrettable” decision to withdraw its Matchbook online exchange services from Canada as of July 23 2014. The growing list of companies that have decided laws are too uncertain in Canada or the market isn’t lucrative enough includes UK bookies Betfred who withdrew from Canada and 18 other countries due to “regulatory and general licensing processes.” In January, online payment processor Skrill stopped processing Canadian gambling transactions following a similarly ill-defined ‘review’ of its operations. InterPoker exited Canada in December.

TripleBet Ltd. maintains the decision to leave Canada was made following “a comprehensive review of all operations” but offered no specifics on what that review concluded. August 22nd 2014 is the deadline for closing accounts with the Matchbook sports betting exchange. Bets placed before July 23 will remain open and winnings will be paid out as the events are decided.  After August 22 Matchbook will automatically refund account balances to players’ bank accounts, presuming they have that data on file. Paul McGuinness, Matchbook brand strategy chief told eGaming Review the decision was “purely commercial.”

 

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