Ladbrokes Online Betting Pulls Out from Canada

Canadian gamblers have already been enjoying the comforts of playing casino online at home especially when it is from popular companies like Ladbrokes. Unfortunately, they were dealt a bad hand when the company suddenly announced it was leaving Canada. Now players are not only disappointed but worried as well that they might not be able to cash out their funds and redeem points and bonuses they have worked hard for. According to the UK based operator, players won’t be able to play their favorite Ladbrokes’ game starting on October 1. The website will no longer be accepting deposits and wagers on that day onwards. Additionally, players are given 30 days to withdraw their funds.

What made Canadian players worry the most was the statement released by Ladbrokes saying that all pending winnings and bonus funds tied to the wagering requirements will be forfeited. This move greatly affects the image of the company that Canadian players used to look up to as the best online casino operator in the country except for the recent controversy it was involved with. Although Ladbrokes is not the first to exit from Canada, it brought extreme disappointment to all its loyal players plus financial losses as well. The reason behind the exit could be the fact that there are upcoming changes in the online gambling regulation in Canada targeting offshore operators like Ladbrokes. It could be that Ladbrokes has already sensed the coming regulations to be a lot more stringent that they already are. Moreover, there are new gambling laws imposed in the UK that could have made Ladbrokes a bit unhappy at being a part of the offshore market in Canada.

According to the statement released by the company, they are regularly conducting reviews on their ability to offer online gambling globally. The spokesman said that there are a lot of markets catering for offshore online gambling operators legally. Following the announcement of the pullout, Ladbrokes shares dropped on the London Exchange by 1.93 percent at 126.90p although its sports betting sector is only about 0.05% of the entire business. Nevertheless, as a successful company, Ladbrokes knows exactly their vulnerabilities and only make moves when necessary.

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