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Gambling: Millions that could be retained leaving the Canadian economy
9/27/09 - The popular Vancouver Sun columnist David Baines renewed his call for online gambling regulation in Canada over the weekend, using the re-launch of the Bodog brand in the Canadian market as a peg on which to hang his appeal.
Baines opined that Canada is losing millions of dollars to offshore gambling operators, a flow that could be kept within the country if the authorities would recognise that the genie is out of the bottle and online gambling is here to stay.
"Insulated from prosecution, Bodog has now joined a host of other offshore Internet gambling companies that are stripping millions of dollars from the Canadian economy every year," writes Baines after explaining how the brand has located in Kahnawake out of reach of Canadian authorities.
"As I argued in my August 21 column, when it comes to Internet gambling, the genie is out of the bottle. There is no sense trying to eradicate it. The most sensible approach is to regulate it. That way, we can make sure the games are fair, operators are of good character, and taxes are collected," Baines continues, adding that moves are afoot in the neighbouring USA to legalise online gambling, which could unlock $63 billion in tax revenues over the next decade.
"It's time that Canadian politicians accepted the reality of the situation and developed similar legislation to gain control over this outlaw industry and capture whatever benefits it can provide," Baines concludes.
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
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