Betting Sports: Online Gambling Regulation - France Is Next
If a new bill is passed online gaming operators will soon be able to bid for licenses to run French based gambling and gaming interests. France is seeking to open its market and allow competition for its state monopolies of Francais des Jeux and Pari-Mutuel Urbain (PMU).
The future of online gambling in France was exposed today at a press conference in the heart of the Parisian centre. In a massive reform - expected to be put before the French senate for voting before the summer recess - the tax structure which will accompany the bill to open up online gambling was unveiled. The figures of 2% tax for online poker and 7.5% for sports and horse-racing betting were said to be foreseen.
Budget Minister Eric Woerth is head of a bill that is being presented due mainly to the result of continued pressure form The EU in a bid to get French law inline with its EU counterparts and open up the potentially prosperous online market. Under EU law all EU-based gaming companies should be allowed to operate anywhere within EU boundaries, anywhere including France.
FRANCE TO GRANT LICENSES TO BIDDERS
That the pressure came mainly from the sports betting sector shows just how lucrative the French sector could be. Opening up the market will result in a flood of applications to take on the State owned lotteries. Gambling is an untapped market in France compared to countries such as the UK where sports betting is a cultural mainstay.
Licenses will be awarded to companies who bid. A regulatory authority will be set up to award licenses in a transparent and non-discriminatory way, to protect against under-age gambling and promote safe gambling and ensure the number and nature of bets and games offered fall within set guidelines. The licenses will be awarded to operators based on their respective industry sector - sports betting, casino or poker games - for a five year-period. Operators that are licensed in other European states will be able to apply for a license in France.
If approved, the licensing process could begin and the bill could come into effect as soon as Jan 1st 2010.
Betting Sports: Online Gambling Regulation - France Is Next
Monday, March 30, 2009
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