While looking to online gambling as a source of revenue has become a hot trend in other parts of Canada, the province of Newfoundland and Labrador is not going to jump on that bandwagon. The province’s premier has said that he and the government opposes introducing online gambling to the province.

British Columbia already launched North America’s first online casino, though a security problem caused them to shut it down until the issue is resolved. Quebec plans to launch an online casino this fall. Ontario is looking to launch an online casino by 2012. As for Newfoundland, the answer seems to be no – at least for now.

The Atlantic Lottery Corporation, which operates offline gambling in several provinces, including Newfoundland, recently announced that the province could generate $50 million by allowing online gambling sites. Danny Williams, the Premier of Newfoundland and Labrador, said that the province generates enough income from alcohol and tobacco sales and they don’t need online gambling to make ends meet.

Though online gambling is not legal in Newfoundland and Labrador, offline gambling, including a lottery, is. Though their premier said that the revenue from online gambling isn’t needed, it’s worth noting that a March report by Finance Minister Tom Marshall stated that for the 2010 fiscal year, the province expects a $295 million budget deficit. Read GDP is down 8.9% and unemployment is at 15.5%.

The good news is that personal income and disposable income grew by 3.9% and 4.7%, which may give residents more ability to play at online casinos. Also, the budget deficit was reduced by 60% from the previous year. That means that although the economic situation in Newfoundland isn’t great, it is getting better.

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