France to license online casinos starting in 2010
05 March 2009
Let me first start out by saying that it’s a sad day when France realizes what’s going on, and works to resolve the situation instead of banning online gambling, such as Steven Beshear was/is trying to do. Steven Beshear needs to take a few lessons from Eric Woerth, France’s budget minister, which was quoted as saying “Rather than banning 25,000 Web sites, we’d rather give licenses to those who will respect public and social order.”
This, in fact, is what America should do, and should have done back in 2006. But instead, lawmakers passed the UIGEA (Unlawful Internet Gambling Enforcement Act) which places regulations on now-taxed payment processors and banks to ban transactions that have anything to do with online gambling. The USA has lost billions of dollars of revenue that they could have recieved from online gambling, but instead they decided to try to ban it. Where’s the logic in that?
But anyways, I digress. Let’s get back to France.
France already takes in over €5 billion every year from Internet gambling, offline casinos, and horse racing. Next year, those numbers will definitely increase, because as it is now, they don’t allow any competition from casinos located in other countries. Their plan is to open up competition, and will license and tax online casinos from other countries; at a rate of 7.5% on sports events and horse wagers and 2% on poker wagers.
Now, let’s get the USA to follow suit…I never thought France would be ahead of us in many things, but they sure are.
14 May 2010Canadian Man Pleads Guilty in U.S. Online Gambling Charge
Douglas Rennick, a Canadian man, has pleaded guilty to a count of processing offshore bets of U.S. citizens. Originally Rennick was looking at a charge of conspiracy and bank fraud. He had allegedly laundered $350 million dollars for overseas internet gambling companies. Rennick was indicted in August and on Tuesday entered a guilty plea to the one charge in New York Federal court. Part of the plea was forfeiting $17.1 million and a possible prison term of 6-12 months.Read full article
02 June 2010France to Award 30 Licenses for Online Gambling
Today the government of France approved a new online gambling bill. The bill passed the French parliament by a narrow 299-233 vote. The French will grant only 30 licenses to operate online casinos and poker rooms within its borders. Though it is now official and France says that licenses will be granted in time for the 2010 World Cup, not everyone is excited about the French market.Read full article
09 June 2010France Issues 11 Licenses For Online Gambling
France acknowledged that 11 companies have been granted license and have been registered to conduct online sports and horse race betting as well as online poker within France. According to Arjel president Jean-Francois Vilotte, the regulator of gaming in France, “There were 35 requests for licenses and we have retained 17 at this stage. None have been formally rejected.Read full article