Monaco is located in southern Europe. It borders France in all directions but the south where it borders the Tyrrhenian Sea.
Monaco is well-known for having an extensive land-based gambling industry where foreign nationals are allowed to play (though citizens aren't). Because foreign nationals make up about four-fifths of the population, this is an especially atypical arrangement. With the online gambling industry, however, there simply aren't any rules in play to begin with, so citizens have options for gambling despite the land-based ban on them even entering casinos.
This situation gives players a ton of options about where to play and no real government interference. While they might decide to regulate the industry later on in the future, there hasn't been any kind of ongoing call for it by citizens or politicians, so things are unlikely to change for quite a while. This is good news for citizens and foreign nationals alike who like to gamble on the Internet.
No licensing process exists for any type of online gambling in Monaco. They do have an in-depth land-based licensing process, however, and in the event that they regulate the industry in the future, this could likely become the basis for their online regulatory guidelines.
The fact of the matter is that there's not really much of a demand for a licensing process in the country right now, and that's the main reason why no one really expects their lax attitude towards the industry to change anytime soon. While the expected is always possible, there has been no indication from anyone that it's even on their radar at this time.
Because there is no licensing process or regulatory body for online gambling in Monaco, there is no level of player protection for people who gamble online from the country. For this reason, it's recommended that players stick to foreign sites that have good reputations and a history of taking care of their players. Having licenses in reputable jurisdictions and inclusion in independent regulatory bodies like eCOGRA are good signs that the site you're playing with will be reliable with cash outs, customer services and serving the interests of the players, and these are the things you should look for when finding a site to play with from Monaco.
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