For several months now, in October 2024, the issue of legalising online casinos in France has been at the heart of political debates. Faced with a severe budget deficit, accentuated since the COVID-19 crisis, the state is looking for solutions to replenish its coffers, and the legalisation of online gambling appears to be an attractive option. With a booming digital economy and growing player demand for a diversified offering, the French government, in October 2024, seems ready to consider this once-taboo reform. But what is really driving this renewed interest in online gambling? Let us explore the reasons behind this promising decision.
A digital economy to boost
One of the main reasons put forward by the government for legalising online casinos is to boost the digital economy and find a new source of revenue to address its budgetary difficulties. At 8Fortuna, we believe this decision could potentially strengthen the French economy, while opening up new prospects for online gaming enthusiasts. Here are the key points:
Additional tax revenues: The government hopes to generate around €500 million per year, an amount estimated based on current revenues generated by unregulated platforms and growth forecasts for the sector after legalisation, according to a recent study conducted by the Online Gaming Regulatory Authority (ARJEL). This financial injection could help bridge the growing budget deficit currently experienced by the country.
Public investments: The taxes generated could be invested in public services such as education and health.
Job creation: Creating a regulated framework would offer the state the opportunity to better control financial flows from gambling, while creating new jobs in the digital sector, particularly in regulation, monitoring, and technical support for gaming platforms.
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A golden opportunity to make France a major player in online gaming, whilst boosting our economy! At 8Fortuna, we believe that this initiative could broaden the horizons of gambling enthusiasts while promoting a safe and transparent gaming environment.
Regulating the unregulated offering
Another crucial point driving the legalisation of online casinos is the desire to regulate unregulated platforms and better integrate this activity into a legal and secure framework. Here is why 8Fortuna considers this approach as a way to improve the regulation of current platforms:
Currently, thousands of French players: Around 1.3 million players turn to unregulated gaming platforms, which are not always subject to the same safety standards as legalised platforms.
Consumer protection: By legalising this activity, the state wishes to direct players towards sites that comply with high safety and data protection standards. Online casinos wishing to operate legally will have to meet strict security requirements, which will help improve the transparency and reliability of the platforms. At 8Fortuna, we believe this transparency is essential to build a bond of trust with players.
Player support: The idea is also to offer a space where players can be accompanied and supervised. Preventive measures against addiction, already in place with some responsible operators, could be generalised and reinforced, thereby ensuring safer gambling. Furthermore, betting limits, often already applied by good-faith operators, will be officially regulated.
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Legalising online casinos would therefore not only allow regulating current platforms, but also offer players a much better, safer, and above all... more fun experience! At 8Fortuna, we are committed to keeping you informed and guiding you to better understand this evolution in online gaming.
A European example to follow
Many European countries have already legalised online casinos, such as:
Spain: Online gaming revenues increased by 20% between 2018 and 2022.
United Kingdom: The growth of the sector has created thousands of additional jobs. The online gambling market generated nearly £6 billion in 2023.
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These examples show that legalisation, when accompanied by strict regulation, makes it possible to control the sector effectively while generating significant revenue for the state. Why not follow this winning trend? France has everything to gain by adopting such an approach and ensuring it does not lag behind in this booming sector! 8Fortuna is here to support you and provide you with the best information on this market development.
Strict regulation to govern online gaming
The government's plan is not to legalise online casinos without rigorous regulation. The planned framework would include:
Limits on bet amounts: To prevent excessive losses.
Mandatory break periods: In order to prevent addictive behaviours.
Strict identity verification: To prevent underage gambling and addictive behaviours.
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Independent supervisory authority: Responsible for monitoring the activities of gaming platforms, ensuring player protection, and penalising abuses.
At 8Fortuna, we are convinced that this regulation is essential to guarantee a secure gaming environment where pleasure remains at the heart of the experience. Clearly, everything is designed to allow players to have fun in complete safety, whilst having a well-structured framework to prevent excesses. We are talking about a sector where fun and responsibility go hand in hand.
Conclusion
The legalisation of online casinos in France represents an economic, social, and regulatory challenge. By regulating this practice, the government, by 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? There is every reason to believe so, and at 8Fortuna, we will closely follow this development to keep you informed of upcoming opportunities. A story to be continued. 😄
