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‘French iGaming industry needs more regulation’ – Betclic CEO

Posted: Jan 12, 2023 12:29 Category: Online , Regulatory , Sportsbetting ,

Nicolas Beraud, CEO and Founder of Betclic stated that the French authorities need to do more to regulate online casinos and counter illegal gaming.

Beraud shared this statement while being interviewed on the radio station franceinfo. His argument articulated on the fact that iCasino regulations are not in line with those on wagering.

The iGaming industry in France raked in a record Gross Gaming Revenue (GGR) of €2.2 billion in 2021. This amount was the combination of the sports betting, horse racing and online poker sectors.

Beraud argued that since online casino games represent a significant portion of the French market, proper regulation needs to be put in place.

16% of the French gaming income comes from online sports betting and that is being regulated. Beraud said that 86% of the market is not being regulated in the same way and therefore illegal gambling is flourishing.

One also has to mention that during the past year, France has been examining its legislative framework on gambling. Throughout summer 2022 the French regulators assessed the advertising standards of online bookmakers.

This prompted more rules to be imposed for the advertising and promotion of online gambling.

Beraud hailed the French regulators work in this regard but stated that they must now turn their attention to online casinos and the “unregulated black market.”

The black market of unregulated gambling practices does not provide the protection needed to players. Also, the government is losing out on a lot of revenue in public funds due to untaxed finances, Beraud argued.

Betclic currently accounts for a third of the French market when it comes to sports betting and Beraud has led the company by example by not only being in line with the regulations in place but also changing its operating model.

 

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