The second smallest country in the world Monaco is known for its superb casinos. Moreover, one of the world’s oldest and most famous Casinos Casino Monte Carlo is here. However, if you are a local, the Monte Carlo Casino is not for you. Monaco laws forbid its citizens from playing here. So, why Monte Carlo Casino bans residents to gamble?
Casinos in Monaco are a gambling paradise for many Europeans. However, there is an odd point in Monaco Laws which bans the locals from gambling-related activities in the country. Moreover, they cannot even set foot inside a casino unless they work there. In fact, you’ll be asked to show your passport at the door. But why is it the case?
Monte Carlo Casino Bans Residents for a reason
There are different opinions regarding the root causes of the gambling ban for the citizens of Monaco. The working dynamics of Monaco are based on money. So, gambling is very important for the country. Well, then wouldn’t it be better to let the locals gamble so that the state could increase the tax earnings? It would be the case if Monaco wasn’t a tax haven. The citizens of the state are not charged with an income tax.
However, it also means that the government doesn’t tax the gambling income, or not as much as in many European countries. It is better to let foreigners gamble and increase cash intake. The locals can still enjoy an almost tax-free lifestyle and don’t care about the fact that Monte Carlo Casino bans residents to gamble there.
However, Monaco laws don’t mention online gambling. So, Monaco citizens can gamble freely at online gambling sites in Monaco.
The history behind the ban
Despite its current wealth, Monaco had hard times with finances over the years. In fact, in the middle of the 19th century, the country faced bankruptcy. It was a bad period in the history of Monaco. However, Princess Caroline came up with a great idea. She decided to open casinos in Monaco to save the country. Moreover, she convinced the owner of one of the famous casinos at the time to relocate from Germany to Monaco. And, this is how today’s one of the most famous casinos in the world – Casino de Monte Carlo came into being.
However, the creator of the idea of having a casino in Monaco was also responsible for the idea of banning the locals from gambling. Princess Caroline didn’t want the locals to spend all their money on gambling. After all, the state needed all the money that they could save. So, the main reason for opening casinos in the country was attracting gambling foreigners.
Monaco Gambling Laws haven’t changed much since then. The Monaco casinos serve only foreigners. There are passport checks at the casino doors. Only non-Monaco citizens over 18 can enter the casinos in the country.
Don’t forget to regularly check on online gambling news in Monaco to be the first to know if something changes in the gambling laws of the country.