French online gambling bill is a farce

Don't expect any companies moving to France in a hurry after the National Assembly voted to introduce licensing regulation for online wagering. Amongst the ridiculous items in the bill:

- all accounts held by French citizens must be closed down until the respective company is licensed and situated on French soil

- all markets must have a best pay back return of 85% (imagine betting on tennis or NFL with markets of 1.74/1.74!!)

- big chunk (8%) of turnover (not profit) to be paid to the government and then the operator must negotiate with the respective sports bodies to pay more for the privilege again

This will get struck down by the EU - all it does is protect the govt run duopoly of the PMU and FdJ. No competitive business will put up with such crap.

European Gaming and Betting Association Secretary General Sigrid Ligne said

“At the time when Europe is watching the developments of France’s reform, the introduction of even more unjustified restrictions is threatening to corrupt the efficient workings of the market.

“If the senate votes along these lines, the prospects of a French market that is both viable and compliant with EU law is a longway off.”

Meanwhile Right2Bet is lobbying hard for the rights of European punters.

Comments

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