France is in the midst of some serious gambling changes and the market is responding to its not-yet sorted out legalities of gaming. Currently there are two different entities that are delaying their move into the French market due to the changes still pending with lawmakers’ implementation of online casinos. Unibet was the first company to announce its hesitation with taking a hold on the market. Now SportingBet PLC announced the same. It is bad news for the market because both companies are well established in the industry and know how to move into a market successfully. It means that these experts don’t believe that France is ready for online gambling at their levels.
A major part of the issue is the current gambling taxation that has been instituted by French lawmakers. It is high and that means that any company wanting to move into the market, most likely will have a difficult time maximizing their own profits. The gambling market is lucrative, but finicky…especially now when financial situations for gamers are still up in the air. Since the recession, gamers have been much more conservative with their wagering. They would rather put additional money into building up their savings rather than gambling. There are some customers moving back into gambling, but at a much slower pace than in previous years. That automatically puts gambling companies in dangerous areas. If they want to be highly successful then they have to make the best choices and decisions to maximize their own profits. With a precarious market, that is difficult to do without some serious deliberations. It seems that those deliberations are what both Unibet and SportingBet PLC are going through right now. The market seems to be too risky for operators of each company to jump into the French market. Add to that problem that the country is new to the world of online gaming altogether, and it makes for a difficult time to be aggressive. Only time will tell whether or not France truly is ripe for gambling implementation. It will take large companies like these two to make the change, but will they every be confident enough in the market to follow through?