A recent vote by the French Parliament will soon open up one of the largest online gambling markets in Europe to privately held companies. Until recently, the French government has held a monopoly on online bingo and other forms of internet gaming in an effort to keep the revenues that casino games generate within their own borders.

With the passage of this new law, which is scheduled to go into effect in June, many firms that had been shut out of the French market may reap billions of Euros in revenues. The new law will allow French customers of overseas sites to play online casino games, poker games and place wagers on sporting events. With the law due to be enacted during the summer, many online sports books are expecting to lots of action during the upcoming World Cup in South Africa, as well as the French Open and Wimbledon tennis tournaments and the Tour de France cycling event.

Only one hurdle still remains before the resolution becomes law: the approval of the European Union. Industry observers believe that the law will earn the EU’s approval, but some facets of the legislation may prove problematic. Some online casino operators and gaming industry observers have noted that the government may try to penalize non-French firms attempting to attract French customers. Any law passed by an EU member nation that excludes or discriminates against firms in other EU nations is a violation of EU regulations.

The law passed by a vote of over fifty-seven percent and has earned the praise of the French Budget Minister Francois Baroin. He said that the law will allow France to "dry up the black market" in the online gaming world. Some provisions of the law include regulating and licensing online gaming firms, prohibiting underage participation and setting aside a portion of the tax revenues to fund problem gambling treatment efforts.