British Columbia makes major iGaming offer

British Columbia makes major iGaming offer

In order to encourage high-rollers to close their internationally licensed iGaming accounts, British Columbia is boosting weekly deposits.

Canada.- The online gaming segment continues to have the authorities looking for the best way to run it. That’s why British Columbia wants to discourage iGaming bets on foreign websites and launched a major offer.

The British Columbia Lottery Corporation (BCLC) announced it will boost weekly deposits. The amount will rise from €6.8k to €68k, increasing it by a factor of 10.

The intention is to “expand [PlayNow’s] appeal and move high limit players away from unregulated, grey market gambling sites.”

According to the BCLC, 73% of the British Columbia iGaming users patronise internationally licensed websites. Those “do not pay taxes, support jobs in BC, nor deliver profits to the province.

New regulator

The government of British Columbia has announced that in order to take action against money laundering, it will transition the province’s gambling regulator. Thus, provide it with greater independence to set and enforce adequate regulatory gambling policy.

The Gaming Policy and Enforcement Branch (GPEB) will be transitioned to the new independent gambling control office (IGCO). This comes after amendments to the Gaming Control Act.

The IGCO will focus exclusively on regulatory policy matters related to gambling, horse racing and responsible-gambling programs. The new regulatory body addresses concerns raised in a money laundering report, which highlighted that decisions about regulatory gambling policy should be made separately from decisions about revenue generation.

“The IGCO will have the mandate, authority and independence to ensure the overall integrity of gambling in B.C.,” said David Eby, Attorney General. “This change will make it far easier to keep dirty money out of our province. It is one of many concrete measures we are taking to disrupt money laundering, which has impacted British Columbians in so many ways.”

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