Monaco Online Casino Guide

Gambling Industry Overview in Monaco

The following approaches will be presented

  • Gambling legislation in Monaco
  • Gambling authorities in Monaco
  • Online casinos in Monaco
  • and more

Gambling is one of the activities Monaco has become famous for. Gaming and gambling was officially legalized more than a century ago, as part of the country’s efforts to start generating larger amounts of money for the Principality.

Flag of MonacoTheoretically, Monaco is one of the most affluent European countries, especially when the small number of local citizens is taken into account. However, the Principality is currently doing its best in order to keep gambling as its national business instead of a pastime. This policy have resulted in some laws and bills that are considered too harsh.

Overview

The authorities in Monaco first legalized the gambling activities in the country in 1863, and the establishment of the first major casino was not until the first financial problems of the country, which made Prince Charles III to take measures for improving the situation.

A franchise contract for the construction of the legendary Monte Carlo Casino for a period of half a century was inked between the Prince of Monaco and Francois Blanc, who invented the single-zero roulette game. As a result of the agreement, Monaco kept roulette as an exclusive casino game until 1933.

MC Top Rated Online Casinos for Monaco
1
Luxury Casino
Sign Up

100% up to

$/£/€150

2
Casino Action
Sign Up

100% up to

$/£/€150

3
32 Red Casino
No Deposit

£10

4
Cherry Casino
Sign Up
Casino Spins

200 Free Spins

The Principality is also characterized by the monopoly imposed on the gaming industry after the Societe des Bains de Mer took over the segment in 1863. It is also famous for the numerous poker events that take place on the territory of the state. However, poker is not the only game Monaco is known for. The World Backgammon Championship also takes place in the Principality every year for more than three decades.

Currently, there are five land-based casinos that operate on the territory of Monaco:

  • The Monte Carlo Casino
  • Monte Carlo Bay Hotel and Resort
  • Sun Casino – Monte Carlo Grand Hotel
  • Café de Paris Casino
  • Monte Carlo Sporting Club and Casino

These five casinos are largely self-regulated. They operate under quite relaxed and even informal rules, just like the situation with the online casinos that are launched in the country.

Gambling Legislation in MonacoThe great paradox here is the fact that no matter Monaco is considered a gambling Mecca, the citizens of the Principality are not permitted to place bets in the casino. They are not even allowed to enter such a venue, except for the employees who work at the building.

However, foreign citizens are absolutely free to place their bets in local casinos. Considering the fact that such citizens represent about 80% of the Principality’s total population, the problem with the gambling ban imposed on local citizens is not that big anyway.

Online Gambling

Internet Gambling in MonacoWhen it comes to online gambling, the laws of the state are considered quite informal. They include only five sections that are primarily focused on the ban imposed on local citizens, which forbids them to play in web-based casinos.

The law also sets a minimum legal age of 18 year for playing in gambling and entertainment venues. In addition, it regulates the process of authorization and employee management.

At first, Monaco’s authorities have been considering to forbid gambling on foreign websites for local citizens in order to impose a monopoly over the market. However, they gave up on these intentions and contemporary legal framework of the country does not actually mention web-based gambling at all. This can be considered as a loophole in the Principality’s legislation, which allows the state’s residents to play in Internet casinos.

Tweet about this on Twitter
Twitter
Share on Facebook
Facebook
Share on LinkedIn
Linkedin
Share on Reddit
Reddit