GAMBLING NEWS
New legislations might ban Betfair in France
Oct 14, 2009
The London based gambling company Betfair that is in large parts built around the betting exchange platform that Betfair has developed can be banned in France due to the plans of implementing new rules regarding online odds trading and online gambling. Another part of the legislation wants the betting companies that operate in France to pay up to 2% of their revenue gained from the French market. The French government has been planning for a long time to change some of their legislations regarding online betting and make it more liberal against online betting companies accept online betting exchanges such as Betfair.
The ban of odds exchanging is just one part of the new legislation that the French House of Representatives will vote on later this month and one of the reasons for the ban off online odds exchange is a report that shows that 9.8 percent of odds exchange players started to be gambling addicts. That is between 8.8 and 6.8 percent higher rate of gambling addiction compared to regular sportsbook players.
A part of the legislation wants to implement a way for online gambling sites to be able to license themselves in France and with that become able to legally market themselves on the French market. If the legislation is passed and if it is successful more countries are interested in trying out a model that might be of the same kind as the new legislations. Betfair however are not pleased with the newly proposition and have stated that they think it is very discriminating towards the largest online Operator in Europe.
