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France Is Considering Legalizing Online Casinos

by THEFUTURE.TEAM

October 24, 2024

62%. This is public support for the French authorities’ intentions to legalize online casinos, according to a survey by the French Association of Online Games (AFJEL). Very soon, such legal amendments may become a fact, writes the French publication Le Figaro.

Online casinos in France are prohibited by law. Along with Cyprus, it is the only country in the EU that completely bans online casino games. French authorities only allow sports betting, horse racing, and poker online. The online lottery is also legal in France, although there is only one operator – La Française des Jeux (FDJ).

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However, in 2023, illegal online casinos operating in France generated an impressive 750 million euros in turnover, a sign that legal restrictions are in no way preventing these businesses from thriving from the comfort of tax havens, in which are registered.

Now the government is proposing changes as part of the draft budget for 2025, which would make the activity of online casinos subject to control. The texts were presented over the weekend and considered by French MPs on Monday. If the changes are finally adopted, virtual casino games will be taxed at 55.6% of their turnover.

The government claims that legalizing online casinos will help tackle the presence of illegal sites that often operate from tax havens. This could contribute to limiting the risk to public health,

However, the proposed amendments are not being taken lightly by casino owners, who have come out strongly against the amendment, which will expose their establishments to unwanted competition.

“According to our calculations, the opening of online casinos to competition will lead to a drop in gross gambling revenue of land-based casinos by around 20 to 30% and the closure of 30% of establishments,” said Gregory Rabuel, president of the Casinos de France union. to the French media Les Echos.

THE BUDGETARY POLICY OF FRANCE

Last year, France’s government deficit reached 5.5% of the country’s GDP, significantly exceeding forecasts and breaching the EU’s target of 3%. Late last month, new budget minister Laurent Saint-Martin revealed that this year’s deficit could exceed 6%.

While the government hopes to rein in spending, it is also looking for ways to raise revenue. Part of the country’s current financial problems are related to reduced tax revenues. This is partly because economic growth has recently been driven by exports rather than domestic consumption, resulting in lower VAT revenues.

A review of the revenue side of the 2025 state budget, which calls for 60 billion in new tax revenue, began on Monday, kicking off the most important few weeks of Prime Minister Michel Barnier’s tenure, whose government enjoys fragile support.

In his opening speech, Economy Minister Antoine Armand advocated a budget that would allow the public deficit to be reduced to 5% of GDP in 2025, rejecting any “austerity” while predicting a 0.4% increase in public spending

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Truecaller Expands Strategic Portfolio With New Esim Services For Global Travelers

Innovative Expansion In Mobile Connectivity

Truecaller, the renowned caller ID service provider, has launched a new suite of eSIM services tailored for global travelers. This move is a critical component of the company’s broader strategy to diversify revenue streams amid a challenging advertising market.

Strategic Diversification And Robust Product Offerings

New eSIM plans range from 1 GB packages valid for seven days to larger 20 GB plans covering a 30-day period. Services are initially available across 29 countries, including Italy, Sweden, Spain, France and Germany. International travellers are the primary target audience, particularly users seeking alternatives to traditional roaming services.

Targeted Global Rollout And Regulatory Nuances

Despite being one of Truecaller’s largest markets, India was excluded from the initial rollout because of local telecom regulations. Management’s approach reflects a focus on markets with more accessible regulatory frameworks for digital telecom services.

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Leveraging Established Partnerships And Trust

Support for the platform comes through partnerships with Telna and Telness Tech. Truecaller Chief Operating Officer Fredrik Kjell said the company’s existing user base provides a major advantage in the growing travel eSIM segment. More than 500 million people already use the platform each month, allowing Truecaller to introduce additional services directly within its existing ecosystem, according to Kjell.

Positioning For Resilient Revenue Streams

Recent expansion efforts follow weaker advertising performance and workforce reductions at the company. Subscription products and premium services, including AI Assistant and Family Protection, have become increasingly important as Truecaller seeks to diversify monetisation channels.

Competitive Landscape And Future Outlook

Competition in the eSIM market continues to intensify with companies such as Airalo, Holafly, Roamless and NordVPN’s Saily service expanding globally. Truecaller’s strategy focuses on leveraging its large international user base while broadening its role beyond caller identification into mobile connectivity and digital communication services.