French online gambling market opens in 2010

A scheme to start up the online gambling market in France in 2010 to state-rival internet gambling companies is in the works by the country’s government, it was revealed this week. As said by France budget minister, the online gambling market is going to be open in 2010 and the authorities are going to being granting licenses to companies to run online gambling sites in France the same year, after the country’s coffers have suffered from the losses in the latest years from the state control on gambling. PMU (Pari Mutuel Urbain) is now the only authorized choice in France for gambling, both offline and online, providing more than $6 billion annual to the country’s finances. But force from the European Union for canceling sports betting and gambling domination in the Union has caused the conclusion to release the internet gambling market to other members. The plan indicates that betting companies with license to run lawful online gambling websites in France are going to pay tax of around 7.5% for sports betting and horse racing wagers and 2% for online poker rooms.