France To Private Gambling Companies: Come On In

If ever there was a sign of how the winds of change are sweeping across the world in terms of gambling, it came on Tuesday in France. One of the oldest and strongest monopolies in the world came crumbling down, signaling massive change within the International gaming industry.

The European Commission has been urging European Union member countries to change their gambling laws to include competition from gaming operators in other countries. France became the latest to comply, with seventeen licenses already having been handed out in the country.

France and Italy have both now complied with European Commission requests, and Spain and Denmark may be next in line to do so as well. It is a stunning change in direction from countries that have long held the idea that a monopoly is the best way to handle gambling. France's monopoly stretches all the way back to 1539.

Jean-Francois Vilotte, the President of France's Authority for Online Gaming Regulation, saw the need for online gambling regulations several years ago. The state run lottery ran into problems with competition from offshore gambling operations, and at that time, Vilotte understood the time for regulation of gambling had come.

While many countries are changing their laws, the US has yet to regulate online gambling. Representative Barney Frank has introduced legislation that would lay the groundwork for Internet gambling regulations, but the representative has not yet brought the issue in front of Congress. Pressure is mounting on US lawmakers to change their current online gaming laws.

It may be a victory for gambling operators that France has opened their doors, but it does not mean that all is good. France will be one of the only countries that taxes the net gambling figure, rather than the revenue generated. Although the taxing laws are not ideal, gaming companies still believe the opportunity for profit is present.

June 8, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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