French Government is Regulating Online Casinos
French authorities announced recently that they will create an agency that will
regulate and monitor their country’s online casinos and operations. This
announcement is long awaited, as the online casino debate seems to always be a
heated one. The French National Crime Commission’s President, Alain Bauer, has
made a comprehensive list of steps that need to be taken for the agency to be in
full force.
Nay-sayers of online casinos and internet gabling have also made a list. They
have made a list of all of the problems they predict that will come with
legalized online gambling. However, the French government is doing all that it
can in order to monitor, license and regulate all internet gambling franchises.
Regulations have already been put into place starting with who is eligible go
apply. Online casinos must have been in operation for a minimum of seven years
to be considered for application. If you meet that requirement then you have to
agree for your company to be completely translucent. Which according to them
means that they need to have access to all of their share holders, investors,
and every employee has to pass a background check. On top of that the web
servers for each online casino will be available to the agency for monitoring
and auditing purposes. The transparency will help significantly reduce any fraud
or corruption that comes associates with illegal activity.
What does this mean for players? Players that want to play at any French online
casino need to register with the regulating agency. Players will need a legal
form of identification and a French bank account. They will then be issued a PIN
that will enable them to activate their account and play at the approved online
casinos.