iGaming Business – Bookmaker Ladbrokes has confirmed it is to withdraw from the regulated Canadian market due to concerns surrounding a regulatory clampdown on gambling in the North American country.
In an email to Canadian customers, the UK-based operator said it is no longer accepting bets or deposits from accounts registered in the country and advised players to withdraw all funds within 30 days.
According to the Financial Times newspaper, Ladbrokes played down the exit and said that it only took approximately £200,000 (€256,422/$325,973) in revenue from Canada, which represents less than 0.5% of total revenue.
Ladbrokes said: “We continually review the markets we operate in based on legal advice and Canada is not a material contributor.
“The vast majority of our business is UK and Ireland, with a focus on Australia, Spain and Belgium for the future.”
The withdrawal comes shortly before the introduction of new licensing conditions in the UK.