France to Open its Gambling Market
6th March, 2009
French budget minister Eric Woerth announced plans to open the gambling market to competition yesterday.
The plans, that are to be presented to the Cabinet at the end of the month, mean that France will grant online betting licenses to operators.
It was alleged that the European Gaming and Betting Association, put pressure on the European Commission in France, persuading it to opening the Market.
According to Mr Woerth the new plans will help stem the amount of illegal gambling taking place in the country and safeguard tax revenue. Currently illegal gambling generates around €7 billion a year, with 25,000 illegal gambling sites in France representing 75% of the market.
During his announcement Woerth said, "Rather than banning 25,000 Web sites, we'd rather give licenses to those who will respect public and social order,"
As part of the plan unveiled yesterday, the government will introduce a levy of about 7.5 percent on internet wagers on sports events and horse races.
By Rommon
