France may open online gambling market in 2010

A plan to open up the online gambling market in France in 2010 to state-competing internet gambling companies is in the works by the country's government, it became known this week. According to the France budget minister, the online gambling market will be open in 2010 and the authorities will being giving out licenses to companies to operate online gambling venues in France the same year, following the losses the country's coffers have experienced in the recent years from the state monopoly in gambling - the PMU (Pari Mutuel Urbain). PMU is currently the only legal option in France for gambling, both offline and on the internet, contributing over $6 billion yearly to the country's budget. But pressure from the European Union for ending sports betting and gambling monopolies in the Union has led to the decision to open the internet gambling market to other participants. According to the plan, betting companies which are granted license to operate legal online gambling websites in France will pay tax of about 7.5% for sports betting and horse racing wagers and 2% for online poker rooms.

Published on 03/07/2009