Online Betting in France

[Gardian]

I've always enjoyed the occasional punt on the nags. Well, on the dogs too in my younger years!

Anyway, once out here all forgotten, till no 2 son was out here this time last year. Royal Ascot.

"Why don't we open an online a/c for a bit of fun Dad?"  Done. I know that you won't believe this, but we came out ahead.

Left the a/c dormant till Cheltenham & then a further little dabble. Lost, but about even on the a/c.

Email 2 wks ago saying that a/c's for French residents were to be suspended, because of legislation in France. Now, this has saved me money, because I've watched the racing avidly for the last 4 days and wouldn't have picked one winner! However ............ does anybody know what this legislation is about?

[Clair]

A new law was published last month, in time for the world cup: http://www.assemblee-nationale.fr/13/dossiers/jeux_argent.asp

I haven't read the text, but these were the key points of the proposal:

Key points of the draft

law on online games

• Which games will be

allowed on the Internet?

The opening to

competition of the market for online games will affect the horse racing bets, the sport games bets (fixed-odds and live, live

betting). The Française des Jeux retains

its monopoly in lottery games. On casino gambling, only poker

is allowed. It represents three

quarters of the money bet on casino games online. Slots, blackjack and

roulette are prohibited. In all cases, the

earnings paid to players will be capped between 80% and 85% of the bets.

• Which websites will be

allowed in France?

Those that fulfil the

specifications of the government to obtain a license. It is free, valid for

five year (renewable) and given a new regulator. No numerus clausus. Being located in a tax

haven will be prohibitive. Operators must

necessarily establish a separate accounting for their activities and

their French players must hold a bank account in France. To protect minors, the

sites must verify the age of players at the time of opening an account.

• What about illegal sites?

The organization of

illegal Internet gaming will be punished by three years imprisonment and

a fine of 45,000 euros (seven years and 100,000 euros if it is an

organized gang). Advertisements for

gambling sites not licensed will be prohibited, punishable by a fine of

30,000 euros at least. Eric Woerth promises that

the device will be completed by the blocking of bank transactions and

access to illegal sites.

• What amounts will be

taxed by the state?

The tax depends on the

amount bet. Sports bets will be taxed at 8.5% (1% of the fund made amateur sport and high level). The hrose racing bets will

be taxed at 15.5% (8% go to the horse industry). Finally, poker will be

taxed at 2%, part of which will fund the cultural heritage.

[Will]

Libérté, égalité...

encore... [;-)]

[Gardian]

Thanks Clair.

Looks like the 'tax haven' is a problem for British operators (for online purposes, they're registered in Gibralter) and the tax levy of 15.5% on horseracing.

I need to look at it this way, I wouldn't have had a winner at this week's Royal Ascot, so I've saved myself a few bob.[:)]