An online sportsbook that has sponsored some very Canadian sports organizations but has yet to submit to Canadian regulation has stopped taking bets.
BetRegal emailed customers on Tuesday to say the site had "suspended all wagering activity effective immediately."
Without getting into too much detail about what was going on, BetRegal said it was "in the process of making arrangements for settlement of all accounts," and added that all balances and information were secure.
"You can continue to access your account during this time," the email said. "We appreciate your patience and will update you with relevant information and instructions when it becomes available."
Reports of @betregal demise were just premature#CFLBets pic.twitter.com/6o912pxqCG
— Surrey Jack (@mrsurreyjack) April 9, 2024
What exactly will happen next is unclear, although there were apparently some recent rumblings about the operator's status. BetRegal's account on X, the former Twitter, has not posted anything since Jan. 29 either.
It appears, however, that the bookmaker is winding down its operations, at least for the time being.
“We have chosen to suspend wagering activity and are planning to settle all accounts and player balances,” said “R. Gutierrez,” a purported administrator, in an email to Covers on Tuesday. “We will notify customers accordingly and advise of any further updates.”
A 'grey' area
BetRegal said it planned on joining Ontario’s regulated market for internet-based sports betting and casino gambling, but it has yet to do so and may now never join, depending on its future.
In the meantime, the online sportsbook was available to Canadian players, with the brand owned by a company, Regal Group N.V., that said it was regulated by the government of Curaçao.
Other offshore operators likewise still take bets from Canadians in this so-called "grey" market, wherein a company may be regulated abroad but not by a provincial entity.
Playoff Nathan.
— CFL (@CFL) November 1, 2022
How many passing TDs await the @BCLions' fresh QB?
Have your say ? https://t.co/OALqKDcIG5#CFL | @betregal pic.twitter.com/QHOI6ziwBZ
But BetRegal is also notable for partnerships it struck with Canadian sports organizations in the wake of federal lawmakers voting to decriminalize single-game wagering in the country.
The company was named the "Official Sport Gaming Partner" of the Canadian Football League in August 2021 and as a title sponsor for the PGA of Canada at around the same time.
A spokesperson for the CFL told Covers on Tuesday that the league “moved away” from its partnership with BetRegal after 2022. The CFL now has authorized gaming operators it relies on to help boost revenue and fan interest in the game across Canada.
There were six authorized operators for 2023: FanDuel, Neo.Bet, 888, and three provincial lottery companies.
