5th of February 2010 Author: Glo Wood
New venture will be based on Swedish model
The intention of the Loto Quebec board to expand into online gambling, along with two other Canadian provinces, took a step closer to fruition this week with the news that the provincial government cabinet has approved the project.
Quebec Finance Minister Raymond Bachand said online gambling is already widespread and government coffers could benefit from what is a growing market. He added that he expects the province to receive around Cdn$ 50 million in dividends from Loto-Quebec's online venture after three years.
Loto-Quebec hope to offer a regulated alternative to the unregulated web-gambling market, said CTV in a news report.
Based on Swedish Svenska Spel model, the online site will include safety features to prevent underage gamblers, offer self exclusion and limit deposits, according to CTV.
Loto-QuÃ©bec is partnering with the BC Lottery Corporation and Atlantic Lottery Corporation in the endeavour.
The CTV report claims that Cdn$ 675 million was wagered online by Canadians online in 2008, and that it is estimated that the number could reach Cdn$ 1 billion by 2012.
The new service is expected to be online by this fall, and plans to include online poker and sports betting sites on the Internet.
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