UK based betting giant Ladbrokes has announced that it is pulling out of the Canadian online betting market effective October 1st.
As a result of the pullout, Canadian players will be given just over a month to pull out funds, after which time any money left over will be forfeited to the company. Although no reason for the abandoning of the market was given by Ladbrokes, but it is rumored that the move came in an attempt to come into line with the country's gambling laws, which state that only provincial lotteries can offer online gambling.
Ladbrokes currently operates an online sportsbook and online poker room in Canada, although the country's contributions are minor to Ladbrokes bottom line. Canadian operations only account for 0.5% of the company's gambling revenues.
Casino Listings will update this story as more developments arise.