Ladbrokes withdraws from Canadian market
UK bookmaker to stop accepting bets from the country as of 1 October after market review
Ladbrokes confirmed today it will withdraw from Canada’s online market next week following a review of its international operations.
Speaking to eGaming Review this morning a spokesperson for the operator said it “continually reviewed markets based on legal advice” and that it maintained a “focus on Australia, Spain and Belgium for the future”.
Ladbrokes emailed Canada-based customers earlier this week to inform them they would not be able to place bets or deposit funds from 1 October and would be given a further month in which to withdraw balances.
However the operator confirmed that any bonus funds or winnings associated with wagering requirements would be forfeited after the 1 October deadline.
The withdrawal comes amid reports that prospective legislation allowing single-event sports betting in the country has been held up in Canada’s senate. Currently only bets of three selections and upwards are permitted by licensed Canadian operators.
Bill C-290 was first proposed almost two years ago but there has been little progress since after concerns were raised by the country’s professional sports leagues.
In July sports betting firm Matchbook informed customers that it was to withdraw from the country after conducting a “comprehensive review” of its operations, while payments firm Skrill stopped processing payments relating to online betting in Canada earlier this year in order to focus on the US regulated market.