We have heard it before; Monaco is the place to be if you are a gambler. Some of the most exquisite casinos in the world are based in Monaco. The Monte Carlo Casino is one of the most popular land based establishments in Monaco and tourists from around the world have made the Monte Carlo a holiday destination. With gambling being so popular in one of the smallest countries in the world, it should come as no surprise the country has gained recognition. For an online experience, one that almost matches the perfection of the Monte Carlo, join here or continue reading about Monaco Gambling and how it evolved into online casino gaming.
Monaco Gambling History
Gambling was first legalized in 1854 which led to the development of the first land based establishment which was located in La Condamine. This endeavour, set in motion by Prince Charles III, proved to be an utter failure and through the saving grace of the Grimaldi family, the casino was relocated in hopes of restoring its good reputation.
Monaco Gambling Laws
One would think that a country, one that is home to extraordinary casinos, would have open laws about gambling. This is in fact not the case for the citizens of Monaco. They are prohibited from gambling and are not even allowed to set one foot inside a casino unless they are employed by that casino. Foreign nationals are allowed to frequent these casinos though as the laws do not extend to them.
Monaco citizens can however gamble online even though there was an intended ban on online gambling, but that was rejected.
There are many countries which prohibit online casino gaming and therefore will not be permitted a gambling license. These website developers who create casinos reach out to Monaco for licensing and creating an offshore casino.
A number of online casinos accept players from Monaco and they are entitled to perks such as sign up bonuses, loyalty and VIP programs, wide gaming selections and additional perks that we are all so familiar with.
Popular Gambling Markets in Monaco
Although online gambling is popular in Monaco, there is very little live sporting activity from locals online. The Grand Prix which is held I Monaco is one of the biggest events, but even this attracts mostly foreigners. Most of the online sporting activities are valued by foreigners and live sports betting attracts mostly foreign nationals in Monaco.
Ironically enough, Monaco has hosted 8 of the 9 annual European Poker Tour Grand Finals which doesn’t allow Monaco players to take part, although they have been known to take part in online tournaments.
The Future of Gambling for the People of Monaco
Gambling laws are continuously evolving and modern times are allowing for gambling to become legalized in countries where it was once forbidden. It has been predicted that in the not too distant future, the people of Monaco will be permitted to grace the lobbies of their very own casino establishments and will eventually be able to partake in the famous casino games that have been a source of entertainment all around the world.