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France is one of the last countries in the European Union where online casinos remain banned. Nevertheless, it is expected that this country will soon join the pan-European trend of online gambling legalization. The government of the country headed by Prime Minister Michel Barnier announced plans to amend the budget plan to include the possibility of legalizing online casinos next year. This decision will help to solve a number of problems, from replenishing the state budget to fighting illegal gambling.
The government’s proposal aims to increase budget revenues by introducing a tax of 55.6% of gross income of casino operators. At the same time, legalization will allow to strengthen control over the industry and reduce its negative impact on public health. According to official data, the annual turnover of illegal online casinos in France is more than $1.6 billion, which is about 10% of the total revenue of the gambling sector.
Although sports betting and poker are already legalized in the country, online casinos remain outside the legal field. Bookmakers have repeatedly expressed interest in expanding their offerings to include gambling, but this is hampered by current restrictions.
The planned changes cause a mixed reaction. Land-based casinos fear that the legalization of online casinos could have a catastrophic impact on their business. Gregory Rabuelle, the head of the French Casino Association, predicts that opening access to online casinos will lead to a 20-30% decrease in their revenues and may cause the closure of a third of land-based establishments. According to him, about 15,000 employees will be under the threat of dismissal.
At the same time, legalization supporters are confident that the online gambling market is already so developed that its legalization will not cause significant damage to land-based casinos. In their opinion, the real threat lies in illegal operators, whose activities could be limited by state control.
As part of the preparation for the adoption of legislation, the French government plans to hold public consultations with the participation of leading gambling operators. The Minister of Public Finance Laurent Saint-Martin noted that additional consultations and revision of some clauses of the law are required before the final decision to minimize possible risks for land-based businesses.
Thus, France is approaching a new stage in the regulation of the gambling industry. The issue of online casino legalization has a wide resonance, as it requires a balance between economic benefits and protection of traditional operators. Time will tell how the situation will develop, but one thing is clear: the adoption of this decision will be a turning point for the French gambling market.