Published on 4 January 2016 by Rhi
The world’s first and largest online betting exchange, which allows players to bet against each other, rather than the operator, has announced that as of January 14th it will be closing it’s doors to players from Canada. Canadian sports bettors and casino players will no longer be able to signup and those who already have accounts will have them blocked and all open bets voided.
This announcement from Betfair, comes in a bid to ensure good relations for Paddy Power continue in Canada. Canada is an interesting and complicated country when it comes to online gaming and, whilst legal, is still considered somewhat of a grey area, with regulation highly possible. For this reason, many operators have withdrawn from Canada in order to see what happens, to make sure if the market becomes regulated, they wont be penalised for operating previously. Betfair however, took the risk and welcomed Canadian players.
Whilst Paddy Power actually went a step further and signed a deal with the Canadian company “British Columbia Lottery Corporation” whereby Paddy Power provides them with the sportsbook. As Betfair and Paddy Power merge, the new super power wants to make sure that the deal with Paddy in Canada continues, so took the decision to withdraw Betfair in order to avoid the grey area.
If you are a Canadian Betfair customer you have until January 14th to manage any open bets you have (perhaps by trading out where possible and releasing the funds back to yourself now) otherwise, come Jan 14th, all bets will be voided and you’ll no longer be able to access your account. Betfair informed all Canadian players so the shutdown wont creep up or come as a surprise, and have given the players plenty of time to check the status of their account and withdraw any funds that might be in there.