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German Betting Association Urges Government to Reconsider Draft Treaty

German Betting Lobby has been urging the State Governments to reconsider the newly drafted gambling treaty. It also said that otherwise, the punters would be under the control of the black market.

German Sports Betting Association (DSWV) issued a statement on Tuesday to the 16 states to increase the attractiveness of the new federal gambling treaty. The new draft is scheduled to take effect from July 2021.

The treaty has been proposing to put a monthly cap on the players’ deposits. The online slot stakes are going to be limited as well with this treaty. The customers cannot log in to two online gambling sites simultaneously as well. As per the draft treaty, the players need to hold separate accounts as well for each of the gaming vertical and also prohibit the third-party marketing affiliates.

DSWV President Mathias Dahms said that the treaty is the stepping stone towards a modern regulated market. However, he continued that it has undesirable structural development and that would create issues in future gaming regulations. He warned that strict and rigid rules neither going to achieve player protection nor squeezing black market operations.

He further continued that the requirement of the government treaty for the prospective betting licensees to turn off the online casino products until new law would compel the players to reach out to the black market. This would be a dangerous trend. He said that transferring the current offers to the existing regulatory system would make more sense. This would ensure that the players are relying on certified and reliable sports betting options.

However, the response from the German Government is not quite encouraging for the operators. There has been another warning to the banks recently regarding the processing of payments for the internationally licensed operators.

German authorities recently disclosed that €9.3b was the total wagered amount in 2019 with the local providers. This is a 21% increase from the wagered amount of 2018. This is despite the fact that 2018 had a FIFA World Cup. The government collected around half-billion Euros in Betting Taxes.

The Betting Market of Germany had thrived last year. The land-based casino operators reported a 25.6% increase in revenue of €860.2mn on a year-on-year basis. The customer visit in 2019 grew by 13.2% as compared to 2018.

Source: https://calvinayre.com/2020/02/11/business/germany-betting-lobby-urges-rethink-gambling-treaty/

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About the author

Debopom Sanyal

Debopom Sanyal

Debopom is a web journalist and news enthusiast. He has been writing about world politics, science, health, finance, and technology. An avid sports enthusiast, Debopom has done his Masters in Finance and Bachelors in Engineering.

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