French online gambling bill clears second hurdle
France: The bill to open up the online betting market in France has cleared another hurdle after being passed by the Senat (Upper House) after its first reading by 181 votes to 140.
Eric Woerth: minister of finance
PICTURE: web-libre.orgThe proposal, which will see the end of the monopoly currently held by the PMU (Pari-Mutuel Urbain) and Française des Jeux, will now return to the Chambres des Députés (House of Commons) for asecond reading on March 30.
The bill was initially passed there last October.
If the final vote from parliament is favourable, the bill then needs to be approved by the European Union, the Conseil d'Etat (Supreme Court) and the Conseil Constitutionnel (Constitutional Council).
It is hoped that these processes will be completed in time for the World Cup, which starts on June 11.
Despite some opposition to the bill, budget minister Eric Woerth, who is also Mayor of Chantilly, said on Thursday that the reform will "regulate a huge amount of illegal activity".
Woerth added that the bill isin response to the demands of the French operators to act against the illicit gaming offered by foreign sites.
Once the proposal is in place, the PMU hopes to capture between 20-25 per cent of the online betting market, which will include wagers on sports such as football, rugby and tennis for the first time, all at fixed odds.
Last November, it signed a partnership agreement with Dublin-based bookmakers Paddy Power, who will advise them with the new system.
Online betting turnover reached €703 million last year and is expected to rise to around €800m in 2010, with a forecast of €1.4bn the year after.
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