Online Casinos to Be Allowed in British Columbia
Monday, August 24th, 2009With the recession hurting economies worldwide, countries are looking into new ways to generate revenue. More and more countries are looking to online casinos as an avenue for more income. British Columbia is now the first Canadian province to legalize online gambling, and will have their online casinos, run by the B.C. Lottery Corp., up and running by March 2010.
For those readers unfamiliar with Canadian provinces, British Columbia is the country’s most southwestern province, located directly above the U.S. state of Washington. It is known for its forestry industry, fur trading, and soon online gambling. The people there speak English, though people in England or the United States might disagree.
B.C. Lottery Corporation CEO Michael Graydon stated that the move is designed to keep money that Canadians are currently spending at overseas online casinos. “Rather than it all going to offshore places like Antigua,” he said, “there’s an opportunity to keep it here in British Columbia.”
Indeed, it is estimated that citizens of British Columbia spend approximately $87 million at online casinos offshore, money that is untaxed and unregulated by the government of British Columbia. In anticipation of the legalization of online casinos, the B.C. Lottery Corporation has raised the weekly gambling limit for its players from $120 to $10,000.
The lifting of the ban, of course, is not without its critics. Shane Simpson of British Columbia’s New Democratic Party calls the move “unacceptable” and said that it does not take into consideration concerns about problem gambling. Graydon, however, said that provisions are in place “to prevent problem gamblers from losing too much money, such as a 24-hour cooling-off period before they can bet higher limits.”
The move by British Columbia would be the first legalization of online casinos by a government in North America.
