MONTREAL, Feb. 4 (UPI) -- The Canadian province of Quebec is preparing to offer its residents online gambling this year in hopes of raising revenue, the finance minister said.
At a Montreal news conference, Finance Minister Raymond Bachand said the province could see as much as $50 million in new revenue during the next three years.
In addition to the money, he said it would put a dent in illegal and unregulated gambling sites, The (Montreal) Gazette reported Thursday.
"I believe this to be an efficient way of fighting the underground economy," Bachand said.
The Loto-Quebec agency would oversee the operations and regulate who plays and how much, the Canadian Broadcasting Corp. reported.
The agency's president, Alain Cousineau, said in a news release players will have to be physically within Quebec, verify their ages and would have limits on how much they could deposit into their accounts, the CBC said.
He told reporters Sweden's national lottery corporation took away 25 percent of the market from non-regulated sites within four hours off its online launch, The Gazette said.
