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French online gambling: Many contributions to tax revenue
According to the quarterly report of the ARJEL, the French online gambling authority, since its legalization in April 2010, online games began to have its place inside gambling market in France. And with the rise of online gambling, public finances do not complain because according to the direction of tax legislation, this booming sector would yield 1.4 billion euro to the State. Online games that include lotteries, horse racing, sports betting and online poker is a real cash contributor for the State because the tax revenue collected at the state level amounted 4.7 billion per year.
Among the existing online games, poker is a real flourishing business. Poker represented by 190 casinos generated over 2.32 billion in turnover in 2011 while La Française des Jeux, with all the games offered to players, generated more than 11.4 billion in revenue the same year. So in 2011, La Française des Jeux and the 190 French casinos paid to the State nearly 3.3 billion or two thirds of tax revenue on gambling. This study established by tax legislation shows a relatively stable gambling revenue despite some fears about the legalization of online gambling, source of tax evasion. Its a market of almost 1.3 million active players in the second quarter of 2012 with a bet of 1.51 billion in cash games and entry fees of 345 million in tournaments.
Source: James WILLIAMS
Friday, 10 August 2012
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