Betfair withdraws from Canada
Operator informs customers they will be unable to use sportsbook, exchange and gaming products from 14 JanuaryÂ
Betfair will withdraw from the Canadian market next month as the firm continues to prepare for its merger with Paddy Power. [private]
In an email sent to its Canada-based customers, the operator said it would be pulling the plug on its Canadian operations from 14 January 2016 with all outstanding bets to be voided and funds returned to customers.
Canada, which is governed on a provincial basis, is still considered a legal grey area for operators with a number of firms having withdrawn from the territory over the past few years.
Furthermore, prospective merger partner Paddy Power has a long-term deal in place with Canadian outfit British Columbia Lottery Corporation which sees it provide the operator with its sportsbook services.
âWe are sorry to inform you that as of 14 January 2016, Betfairâs products will no longer be available to residents of Canada,â the email read.
âOn 14 January 2016 Canadian residents will no longer be able to place bets and Betfair shall close its website. All outstanding sportsbook bets will be cancelled, you will no longer be able to place new exchange bets and all gaming products will be blocked.
âPlease note that all outstanding exchange bets will remain in place until 14 January 2016, so please ensure you manage any positions you have open in advance of this date.â
News of the withdrawal comes just days after shareholders at both Betfair and Paddy Power voted overwhelmingly in favour of the proposed merger, which will create a firm called Paddy Power Betfair.
The combined group, which will be led by Betfair CEO Breon Concoran, will be headquartered in Dublin and listed on the London Stock Exchange.