Online Casino Transfer: News - French Liberalization Approved

04/25/2010		Online Casino Style: News French Liberalization Approved - 1
Home History Games News Dictionary		A celebration is erupting through the internet gambling community this week as a final vote has been submitted to the French National Assembly, officially legalizing online gambling in France in spite of a stiff resistance presented by the left wing politicians. The French market will now be opened up to international operators, liberalizing the market as the industry has been expecting for nearly a year. Though games of chance and virtual poker machines will be excluded from the new law, the opportunities are still huge for firms to take advantage of. The games of chance, such as slot machines, are still banned because they have been deemed too addictive to offer up to the public, but the limitations seem to be little discouragement to the internet gambling companies drafting proposals for regulatory permits. It was an expectation that the bill would be passed by the National Assembly, as it had already been through the French Senate earlier this year. The hope is to have it signed and active by the time the World Cup soccer championships begin this summer, scheduled to be held in South Africa. Because of the fierce opposition presented by the left wingists, the bill was debated for well more than a week. Even after its passage, the opposition has threatened to take the matter to Constitutional Court, claiming that its unconstitutional to legalize and open up the French online gambling market to foreign operators. The change will be extremely profitable, however, as it is expected that the new market will result in €5 billion in tax revenue every year. Undoubtedly, that was a contributing factor in the final vote, measured at 299 for, and 223 against. Once ratified, the law will mandate that a 7.5 percent levy be paid on all online sports and horse race betting wagers; the game of poker will carry a tax of 2 percent. “This law will allow us to gradually purify the black market of online gaming by creating a legal alternative,” said Budget Minister François Baroin said. He went on to hope publicly that the new law would limit the wild and anarchistic growth of the current internet gambling market in France. to be continued in French Liberalization Approved - 2

04/25/2010

Online Casino Style: News
French Liberalization Approved - 1

A celebration is erupting through the internet gambling community this week as a final vote has been submitted to the French National Assembly, officially legalizing online gambling in France in spite of a stiff resistance presented by the left wing politicians. The French market will now be opened up to international operators, liberalizing the market as the industry has been expecting for nearly a year. Though games of chance and virtual poker machines will be excluded from the new law, the opportunities are still huge for firms to take advantage of.

The games of chance, such as slot machines, are still banned because they have been deemed too addictive to offer up to the public, but the limitations seem to be little discouragement to the internet gambling companies drafting proposals for regulatory permits. It was an expectation that the bill would be passed by the National Assembly, as it had already been through the French Senate earlier this year. The hope is to have it signed and active by the time the World Cup soccer championships begin this summer, scheduled to be held in South Africa.

Because of the fierce opposition presented by the left wingists, the bill was debated for well more than a week. Even after its passage, the opposition has threatened to take the matter to Constitutional Court, claiming that its unconstitutional to legalize and open up the French online gambling market to foreign operators. The change will be extremely profitable, however, as it is expected that the new market will result in €5 billion in tax revenue every year. Undoubtedly, that was a contributing factor in the final vote, measured at 299 for, and 223 against.

Once ratified, the law will mandate that a 7.5 percent levy be paid on all online sports and horse race betting wagers; the game of poker will carry a tax of 2 percent. “This law will allow us to gradually purify the black market of online gaming by creating a legal alternative,” said Budget Minister François Baroin said. He went on to hope publicly that the new law would limit the wild and anarchistic growth of the current internet gambling market in France.

to be continued in French Liberalization Approved - 2