Canada Loses Ladbrokes Online Betting Operation

Published Wednesday, September 24, 2014 - Online-Casinos.com
Canada Loses Ladbrokes Online Betting Operation

Canadian online gambling fans have just been dealt another bad hand by an offshore operator. Ladbrokes, the old well established bookie from the United Kingdom has just announced that it is game over in Canadian cyberspace. October 1st, is the fold date after then players will not be able to deposit or wager on its web sites, and there is just 30 days given to withdraw funds.

Ladbrokes also said in a press release that, “bonus funds and pending winnings still tied into wagering requirements in accounts from Canada will be forfeited.” The player has been given bad odds on collecting with just over a week to collect on bonuses and any winnings. This short notice is clearly not good for the reputation of an operator that has been regarded as sterling except for the recent advertizing complaints. Ladbrokes is definitely not the first to exit the Canadian jurisdiction. The migration out of the Canadian online poker and betting market is suggesting there may be new rules coming in Canada that will tighten up on offshore or ‘grey markets’. The new online gambling laws in the U.K. could also mean that Ladbrokes isn’t happy being part of that grey zone in Canada.

The firm’s spokesperson confirmed that suggestion by saying, “We regularly review our ability to offer gambling facilities in different countries throughout the world.. There are a lot of markets that are a grey area on a legal basis” Players that were with the Ladbrokes sports betting operations accounted for only about 0.5% of its business, but after the announcement Ladbrokes shares traded slightly lower by 1.93%  at 126.90p on the London Exchange. The reasoning behind corporate decisions can be varied and complicated and are usually motivated by the bottom line. Online gambling operators are shrewd and aware of their vulnerabilities and smart ones move when needed.

 

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