Betfair, the online gambling giant, recently announced that it is pulling out of France. The company has announced that it will no longer be accepting wagers from residents of

the country.

France recently passed legislation which bans operators that are not domestically licensed. Betfair has stated that it is still considering whether or not to apply for a French license, though.

“We are looking very hard at the French market and how we might operate within the new licensed regime,” Betfair European Public Affairs Director Tim Phillips said.

Betfair has taken the stance that the new legislation will impose restrictions on licensed operators which are both protectionist and go against the interests of French consumers.

"Though it's not impossible for a newcomer to create a commercially viable business, most projections show it will be very difficult to do so given the proposed restrictions imposed on license holders," Phillips said.

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