The world's largest betting exchange may not be able to participate in the soon to open French online gambling market.
The French Government has for some time been working on new laws that will open their market up to foreign online gambling operators. Waiting with great anticipation to be given the green light to advertise to French gamblers have been a long line of the world's largest bookmakers. Also eager to get a slice of the French market has been the betting exchange Betfair.
Betfair revolutionized the online gambling market a few years ago with a product that allowed punters to not only place, but also lay bets online. It has been a tremendously successful product that has seen the company grow exponentially over the last half dozen years to become one of the most recognizable online gambling brands worldwide.
But a last minute amendment to the France's new online gambling laws will make Betfair's product illegal. Regular online bookmakers will be able to advertise to a and accept French player bets, albeit after obtaining local licenses and paying a special levy to the French sports commission - a requirement that the European Commission seems to be happy with. However, while placing bets on sporting events is fine, the new laws will render the ability to lay bets illegal. This will pretty much lock Betfair out of the market and they're understandably not happy about it.
A legal challenge my come from Betfair, but in light of recent developments in Portugal's Santa Casa case, it would seem the European Court of Justice is prepared to give governments more leeway in banning online gambling operators where the ban is in the public interest. The public interest in France's case, is supposedly an attempt to curb corruption in match fixing, which they believe lay bets promote.
From Betfair's Managing Director Mark Davies:
'We will consider our position. It is fairly clearly discriminatory against the biggest and most competitive online operator in Europe. It is a slap in the face for the consumer.'
Subscribe to feed