According to the UK’s new licensing requirements, Ladbrokes will be leaving Canada’s online gambling market as from the 1st of October 2014.
Ladbrokes recently notified its Canadian players that they will stop accepting deposits and wagers from them as from the 1st of October. This has been a big blow for Canadian poker players since it is a brick and mortar online sportsbook for Canadians.
According to sources, Ladbrokes has given its Canadian players a period of 30 days from the date it ceases operations to Canadian players to withdraw their balances. It further states that
As of October 1, any bonus funds and pending winnings still tied into wagering requirements in accounts from Canada will be forfeited
However, the withdrawal of Ladbroke from Canada online gambling market has been contributed by new UK Gambling Commission requirements which state that operators provide a legal justification for accepting customers from markets for which they don’t hold a specific national license.
According to statistics, the Canadian market contributes more than 3% in revenue and according to the new requirements this has seen Ladbrokes not comfortable with explaining the legal basis of its operation in the Canadian Market. However, Ladbrokes has also not released a public statement stating its reasons of pulling out from the Canadian market.
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