Online Gambling Impacts B.C. Lottery Revenue

This is a Canada news story, published by vancouversun, that relates primarily to BCLC news.

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online gambling

vancouversun

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'Trajectory has accelerated': B.C.'s online gambling regulation needs attention, say observers

Summary

Nutrition label

71% Informative

Online gambling revenue is expected to increase from $469 million to $576 million over the next five years .

Revenue from conventional lotteries expected to drop slightly from $570 to $560 million .

Experts say a lack of government regulation could negatively impact users and lead to an increase in gambling addiction, money laundering and youth betting.

BCLC says PlayNow.com is doing a good job of attracting a younger audience.

Canada ’s financial intelligence agency finds illegal online betting sites still remain a boon for money launderers.

Legal sites have fallen victim to money laundering through depositing of money on prepaid cards into gambling websites, which is then withdrawn through Canadian banks as winnings.

“To ensure the safety of our operations online, we are working to enhance our registration process and implement appropriate tools to help detect and deter any fraud on PlayNow.com,” said the BCLC .

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful