Ladbrokes has announced that it is withdrawing its online betting services from Canada after a review of the country’s online gaming regulations.
According to Ladbrokes, the move comes after a review of Canadian regulations that found the Canadian market no longer viable for its service. Canada restricts online gambling to registered provincial lottery corporations, but does allow for some foreign operators to accept bets from the country. Ladbrokes, however, has apparently decided not to take any chances.
Ladbrokes also faces new licensing regulations in the UK that require operators to offer legal justification for continued operations in other markets from which the company derives 3 percent or more of their overall revenue.
The company has asked Canadian players withdraw all funds from their accounts and will no longer accept wagers or deposits from players registered in Canada starting October 1. Players have been given thirty days to withdraw and close account with Ladbrokes.
MatchBook.com and Betfred have also recently exited the Canadian Market.
