Online Casino Transfer: News - Progress on Canadian Front

02/12/2010		Online Casino Style: News Progress on Canadian Front
Home History Games News Dictionary		More news for the online gambling industry in Canada hit the stands this week, with the announcement by Loto Quebec that their move towards expansion, in cooperation with two other Canadian provinces, is one step closer to become a reality. Their expansion will be very similar to the internet gambling regulation model set up in Sweden, with the outline having already been approved by the Quebec Cabinet. It’s a tale becoming more and more popular with state governments: online gambling as an option to raise needed tax funds, taking full advantage of the growing market. Quebec Finance Minister Raymond Bachand said that expects profits to top more than Cnd $50 million within the ventures first three years online. It’s a perfect opportunity to offer a regulated (read: safe) alternative to the black markets of internet gambling. The new project in Canada is being designed to most closely resemble that of the regulatory system in Sweden, build by the monopolistic Svenska Spel. The online casino portal will include inherent safety features to prevent underage and problem gambling, verifying age with specialty programming and offering up help for those who need it. Self-exclusion and limit deposits will also be built into the new platform. Loto-Quebec, though by far the leader in the venture, has partnered with the British Colombia Lottery Corporation and the Atlantic Lottery Corporation for their cooperation in the endeavor. Canadian television reports have put the price tag on the market as much as $675 million, which was bet in online casinos in 2008. By the year 2012, that number is expected to surge to $1 billion. Bachand’s service is expected to up and running by fall, and will grow to incorporate sports betting and poker offerings in the future as well.

02/12/2010

Online Casino Style: News
Progress on Canadian Front

More news for the online gambling industry in Canada hit the stands this week, with the announcement by Loto Quebec that their move towards expansion, in cooperation with two other Canadian provinces, is one step closer to become a reality. Their expansion will be very similar to the internet gambling regulation model set up in Sweden, with the outline having already been approved by the Quebec Cabinet.

It’s a tale becoming more and more popular with state governments: online gambling as an option to raise needed tax funds, taking full advantage of the growing market. Quebec Finance Minister Raymond Bachand said that expects profits to top more than Cnd $50 million within the ventures first three years online. It’s a perfect opportunity to offer a regulated (read: safe) alternative to the black markets of internet gambling.

The new project in Canada is being designed to most closely resemble that of the regulatory system in Sweden, build by the monopolistic Svenska Spel. The online casino portal will include inherent safety features to prevent underage and problem gambling, verifying age with specialty programming and offering up help for those who need it. Self-exclusion and limit deposits will also be built into the new platform.

Loto-Quebec, though by far the leader in the venture, has partnered with the British Colombia Lottery Corporation and the Atlantic Lottery Corporation for their cooperation in the endeavor. Canadian television reports have put the price tag on the market as much as $675 million, which was bet in online casinos in 2008. By the year 2012, that number is expected to surge to $1 billion. Bachand’s service is expected to up and running by fall, and will grow to incorporate sports betting and poker offerings in the future as well.