Canadian Gamblers Too Close to USPublished February 21, 2007 by OCR Editor
Proximity to the United States has often paid off for Canadians. All things considered, the US makes for a good neighboring country and Americans for good neighbors. But at least this week, and regarding gamblers, this proximity has got them involved with
The ban that passed in the US in the fall of 2006 has now extended de facto to the Canadian side of the border. In an announcement made this week by FirePay, an e-wallet payment option that has served gamblers in Canada and elsewhere, said the company will close its doors to gambling by Canadians.
Gamblers from Canada will nevertheless have a chance to transfer their funds from their accounts. Although the announcement did take them and the industry by surprise, it is not to take effect immediately and not necessarily leave gamblers at a financial loss. The announcement sets two dates in the coming days for the end of accepting payments from Canadian users and from merchants.
As per non gambling merchants, the payment service will continue serving Canadians as it has before. It is important to mention that some sites have already closed their doors to Canadian gamblers following the US ban on online gambling, but this is a first time that the door is closed from the online payment method side of the room. FirePay stock is traded at NASDAQ. Its services are widely popular, at sites and other merchants, in Canada and elsewhere, and top $6.5 billion worldwide every year. It will now have to do without the Canadian income it was used to.