Why is the French government considering legalizing online casinos?

For a few months, in October 2024, the issue of legalizing online casinos in France has been at the heart of political debates. Faced with a serious budget deficit, exacerbated since the COVID-19 crisis, the government is looking for solutions to replenish its coffers, and the legalization of online gambling appears to be an attractive option. With a booming digital economy and a growing demand from players for a diverse offering, the French government seems ready, in October 2024, to consider this reform, which was once taboo. But what is really driving this renewed interest in online gambling? Let’s explore the reasons behind this promising decision.

A Thriving Digital Economy

One of the main reasons put forward by the government for legalizing online casinos is to boost the digital economy and find a new source of revenue to address its budgetary challenges. At 8Fortuna, we believe that this decision could potentially strengthen the French economy, while opening new perspectives for online gaming enthusiasts. Here are the key points:

• Additional Tax Revenues: The government hopes to generate around 500 million euros per year, an amount estimated based on current revenues generated by unregulated platforms and growth forecasts for the sector after legalization, according to a recent study conducted by the Online Gaming Regulatory Authority (ARJEL). This financial contribution could help bridge the growing budget deficit currently faced by the country.

• Public Investments: Taxes generated could be invested in public services such as education and health.

• Job Creation: Creating a regulated framework would enable the state to better control the financial flows generated by gambling, while creating new jobs in the digital sector, particularly for regulation, oversight, and technical support for gaming platforms.

An opportunity to make France a major player in online gaming while boosting our economy! At 8Fortuna, we believe this initiative could broaden the horizons of gambling enthusiasts while promoting a secure and transparent gaming environment.

Regulating Unregulated Offerings

Another crucial point driving the legalization of online casinos is the desire to regulate unregulated platforms and better integrate this activity into a legal and secure framework. Here’s why 8Fortuna considers this approach a way to improve the regulation of current platforms:

• Currently, thousands of French players: Approximately 1.3 million players turn to unregulated gaming platforms, which are not always subjected to the same safety standards as legalized platforms.

• Consumer Protection: By legalizing this activity, the state aims to direct players to sites that comply with high standards of safety and data protection. Online casinos wishing to operate legally will have to meet strict safety requirements, which will help improve the transparency and reliability of these platforms. At 8Fortuna, we believe this transparency is essential for building a trust relationship with players.

• Player Support: The idea is also to offer a space where players can be supported and guided. Preventive measures against addiction, already in place with some responsible operators, could be generalized and reinforced, thus ensuring more responsible gaming. Moreover, betting limits, often already applied by good faith operators, will be officially regulated.

Legalizing online casinos would not only regulate current platforms but also offer players a much better, safer experience, and above all... more fun! At 8Fortuna, we are committed to informing and guiding you to better understand this evolving online gaming landscape.

A European Example to Follow

Many European countries have already legalized online casinos, such as:

• Spain: Online gaming revenues increased by 20% between 2018 and 2022.

• United Kingdom: The sector's growth has created thousands of additional jobs. The online gaming market generated nearly 6 billion pounds sterling in 2023.

These examples show that legalization, when paired with strict regulation, enables effective sector control while generating significant revenues for the state. Why not follow this winning trend? France has everything to gain by adopting such an approach and ensuring it does not fall behind in this rapidly expanding sector! 8Fortuna is here to accompany you and provide you with the best information about this market evolution.

Strict Regulation to Oversee Online Gambling

The government's project is not to legalize online casinos without rigorous regulation. The proposed framework would include:

• Limits on Bet Amounts: To prevent excessive losses.

• Mandatory Breaks: To prevent addictive behaviors.

• Strict Identity Verification: To prevent minors from gambling and addictive behaviors.

• Independent Regulatory Authority: Responsible for monitoring the activities of gaming platforms, ensuring player protection, and sanctioning abuses.

At 8Fortuna, we are convinced that this regulation is essential to ensure a safe gaming environment where enjoyment remains at the center of the experience. In clear terms, everything is designed to allow players to have fun safely, all while having a well-structured framework to prevent abuses. We are talking about a sector where pleasure and responsibility go hand in hand.

Conclusion

The legalization of online casinos in France represents an economic, social, and regulatory challenge. By regulating this practice, the government, starting at the end of 2024, hopes not only to increase its tax revenues but also to offer players a regulated and secure gaming environment. Of course, the implementation of this project must be done with caution to ensure a secure framework and support for players.

So, will France soon join the ranks of European countries that have adopted a pragmatic, controlled, and innovative approach to online gaming? Everything suggests that yes, and at 8Fortuna, we will closely follow this evolution to keep you informed of upcoming opportunities. Stay tuned. 😄