|Tuesday, October 13, 2009|
|French online gaming law passes Parliament|
Today, the French Parliament voted on the government’s proposal for a new online gaming law. The amended version will now pass to the Senate, which is expected to vote on it end of 2009. The law would enter into force just before the World Cup Soccer in summer 2010.
According to the law, horseracing will receive a 8% return on handle from each operator. In addition, the take out for sports betting will be similar so as not to distort competition between the two types of betting. The law will also legalise poker, but casino games continue to be prohibited, as well as exchange and spread betting
In Spring 2010, a new Gaming Commission will start issuing 5-year licenses. Operators without a French license will be kept out of market through blocking of IP access and bank transfers, upon court order.
A unique feature of the law is the explicit recognition of IP rights of the (sport) event organizer, with a 1% levy on sports betting to return to the sports.
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