Loto-Quebec is considering whether to launch retail sportsbetting.
It has been reported that the crown corporation in the eastern province of Quebec, which is responsible for overseeing all lottery and gaming activities, is going to begin investigating the possibility of launching retail sportsbetting. This news comes from Canada, where the corporation in question is the Quebec Lottery and Gaming Corporation.
According to a post that was published on Thursday by the news domain at Covers.com, the move from Loto-Quebec comes around 14 months after Canada enacted federal legislation that permitted provincial authorities to begin allowing single-game sports gambling online and at land-based venues. Punters in the province of Quebec, which is the jurisdiction with the second most people in the United States, are only permitted to place legal bets via the operator's website, which can be found at LotoQuebec.com. This is despite the fact that the source detailed that sportsbetting opportunities still remain limited in Quebec.
At the time of the passage of the Safe and Regulated Sports Betting Act in August of the previous year, the federal government of Canada is said to have contended that the legislation would help a domestic land-based casino market that had been devastated by the financial upheaval caused by the coronavirus pandemic and growing competition from venues in the United States. However, it appears that provincial authorities have been hesitant to capitalize on the retail component of this law, despite moving fast to make online sports betting available to the public.
According to Covers.com, Ontario, which is one of the leading lights in the newly regulated Canadian sportsbetting scene, has already licensed over 20 firms to offer online sports wagering to local aficionados but does not yet have a casino where it is possible to place a single-game bet in person. This is despite the fact that Ontario is one of the leading lights in the newly-regulated Canadian sportsbetting scene. This is supposedly the case despite the fact that notable venues within the province, including as Caesars Windsor, Fallsview Casino Resort, and Shorelines Casino Thousand Islands, are located within a few miles of American states in which participation in such activities is permitted.
According to reports, Loto-Quebec, which is responsible for six gambling-friendly venues including the properties of the Casino de Montreal and Casino de Charlevoix, has reportedly stated that it is now in the process of "exploring the idea of offering sportsbetting" at these establishments. For its part, and Loto-Quebec is responsible for six gambling-friendly venues, including the Casino de Montreal and Casino de Charlevoix. The enterprise's representative, Renaud Dugas, reportedly informed the outlet that online single-event sports wagering has proven to be "extremely popular" since it was launched in August of 2021. This might very well have the extra effect of enticing enthusiasts to start putting retail wagers.
Recent improvement includes:
According to reports, Loto-aggregated Quebec's income from online sportsbetting increased by 7.7% year-on-year to around $8.3 million, which was supported by an accompanying 33.3% gain in sales. The operator reportedly also attributed the post-coronavirus rebound in business at its casinos and gaming halls to the fact that total receipts increased by an astonishing 242% to reach $263 million.
However, the operator led by Jean-Francois Bergeron in the roles of President and Chief Executive Officer was reportedly compelled to disclose nearly $420 million in large cash transactions that took place over the course of the previous year to the authority of the nation's Financial Transactions and Reports Analysis Centre (FinTRAC).
It has been reported that Bergeron issued a statement not too long ago...
"To remind consumers that LotoQuebec.com is the only legal casino and sportsbetting website in Quebec, we have started a new phase of our 100% legal promotion," the company said in a statement. This ad is part of our brand repositioning plan and our endeavor to solidify our place in the industry. It also promotes both our integrity and our responsible gaming practices, both of which are a tremendous source of pride for us.
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