Jaggi-Smith estimated there are over 2,200 unregulated websites accessible by British Columbians that compete with B.C. Lottery Corporation’s PlayNow.com. She estimated the industry is worth $50 billion worldwide and $640 million in B.C. The sites, however, lack consumer protection, technical integrity and responsible gambling checks and balances.
“You’re probably familiar with a number of these companies, or at least their names —
PokerStars, Party Poker, Draft Kings, Bet888, Bodog — these are all companies that operate gambling websites legally in other jurisdictions,” said the speaking notes. “There are many reasons why we believe Canadians choose to gamble in the unregulated market — from the ability to place bets on single sports events to having a larger variety of choice when it comes to operator. We do know that many who gamble in the unregulated market are unaware of the risks involved.”
Jaggi-Smith said government bears the negative social consequences and pays through its health and justice systems for addicts and criminals who gamble on unregulated sites.
Revenue from unregulated sites goes into “private pockets,” often located offshore, to benefit shareholders and executives. Jaggi-Smith showed a picture of Calvin Ayre, the Saskatchewan native who founded Bodog in Vancouver. She said at Ayre’s peak, his net worth was over US$1 billion.