France Could Soon Introduce Online Casino Gaming Legislation Following Prime Minister’s Government Michel Barnier said it would consider and likely legalize iGaming as part of its next budget strategy.
France plans to legalize online casinos in 2025
The government is grappling with one of the world’s highest public debts as a percentage of gross domestic product. European UnionAND barnier Take this opportunity to kill two birds with one stone.
On the one hand, online casino games are already available on the market and the exact value of the black market is difficult to estimate, but around 1.5 billion euros.
Passing legislation legalizing online casinos will attract licensed operators and increase awareness of a type of regulated gaming that protects consumers from harm by offering them a more reliable gaming experience while limiting the size of gaming sites. unauthorized and unlicensed.
The introduction of a licensing regime for online casinos will also mean additional funds for the state treasury. According to Barnier, he plans to impose a 55.6% tax on the newly regulated online casino market. NordLittoral GroupFrench media.
The tax rate will be applied to the gross gaming revenues of online casinos, giving the government a very strong incentive to pursue this course of action, especially with a huge budget deficit to overcome.
Gambling taxes will only increase in one direction: up
A similar measure is being touted in the UK, where double-digit taxes are rumored to be in the works for land-based and online casinos.
Although DCSM Secretary of State Lisa Nandy downplayed concerns and warned stakeholders “not to believe everything you read in the newspapers”, the tax increases appear to go ahead anyway.
However, not everyone is happy with the government’s budget adjustment plan. First of all, the French Gaming Association and its president, Gregorio Rabuel criticized the plan, arguing that the land sector would suffer significant losses.
Up to 15,000 jobs could be at stake, Rabuel said in a statement, criticizing the government’s proposal and claiming that around 30% of real estate properties could be forced to close operations permanently. Rabuel compared the possible outcome to a “death sentence” for the physical gaming sector.
The argument is quite valid, but again, it fails to recognize that online casinos are already operating illegally in the country. Dear 5% to 11% of all gambling products The products offered in France come from black market operations that have harmful consequences for consumers, says the president of the Autorité Nationale des Jeux. Isabelle Falk-Pierotin.
In general, France is about to adopt a law on online casinos. It remains to be seen whether this will be done under the conditions described by Barnier.
Image credit: Unsplash..com
