Bad times for casinos and gamblers in British Columbia

  Bad times for casinos and gamblers in British Columbia

Anyone who wanted to visit a casino in British Columbia in the last few months didn't have an easy time. The many casinos that have established themselves in this province have undergone strict controls for illegal accounting practices in recent times. That's why gamblers had to go to another casino temporarily. Incidentally, this is not only annoying for gambling enthusiasts in British Columbia, but of course also for the casinos.

Action against money laundering

It is not for nothing that the local authorities tightly control the accounting of the various casinos in British Columbia. This promotion comes from various money laundering practices in the local gambling industry that came up last year. By carrying out a large-scale campaign to check the books of all casinos, the authorities hope that the latest money laundering practices will come to light. After this, the casinos that do behave well can simply continue their activities.

New rules in British Columbia

The authorities do want to implement some new rules for the various casinos in the province of British Columbia. These rules must prevent new money laundering practices. Among other things, regulators want to completely cancel the buy-in for high stakes games, to a limit of 10,000 Canadian dollars (7,650 US dollars). Casino operators are not exactly happy with this. They expect that with this new rule they will earn no less than 87.7 million Canadian dollars (67 million US dollars) per year.

Earlier this year a new rule was introduced that the casino operators in British Columbia are not exactly happy with. Gamblers who gamble $ 7,600 or more in a 24-hour period must be able to prove in writing where they got their money from. After the introduction of this law, the popularity of high stakes games dropped by no less than 30 percent.

More attention to suspicious practices

The government wants casino operators in British Columbia to pay more attention to detecting and dealing with suspicious practices. This is less interesting for the casinos, simply because they are used to scare people away. The question is how the British Columbia gambling industry will develop in the coming years.

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