France’s New Online Casino Rules Inadequate for Competition
European online casino operators are of the opinion that the new French Laws governing the Internet gambling market are inadequate to permit companies to prosper. Foreign gaming operators, who are contemplating French business, claim that the taxes and restrictions are far too much to attract profits and as a result leave the old gambling cartel at an advantage. After all if gambling does not prove to be a win-win situation for both the casino and the gambler, the whole purpose is defeated.
The new regulations disallow online casino versions of blackjack and roulette, as the Françoise de Jeux cartel, continues to control these games. Sports betting is allowed but taxed at 8.8%, which is much too high for bookmakers. Tax structures seem to be stringent and unfriendly which makes it difficult for bookmakers to survive. Vice-chairman of Mangas Gaming, Isabelle Parize stated that they would not make any money at all, especially when they want to be among the first in France, despite the fact that the taxation is outrageously disastrous.
Antonio Costanzo, CEO of bwin France, claimed that Françoise de Jeux could counterbalance exposure in sports gambling with table gaming, leaving foreign operators with high-risk propositions. The European Union has declared the French Internet casino rules to be inadequate and unfit for competition, falling short tremendously of so many parameters. Several nations are involved in quarrels concerning online gambling and free markets, and the European Commission have not responded to this effectively.
In the above scenario, it seems hard for anyone to survive the gaming industry in France apart from the monopoly that call the shots and do things their way. With proper intervention from the EU and EC, the French business should look promising and welcoming to foreigners in due course.
Filed under: Casino Club
