Schleswig-Holstein Becomes German Gambling Mecca

Recently, the German state of Schleswig-Holstein has liberalized its regulations, making it so far an exception when it comes to the German gambling laws. Just now the state awarded three gambling licenses.

One goes to a British online gambling firm, Betfair. It will now provide access to online sportsbooks in Germany and, in effect, the German punters will be able to make legitimate bets. Betfair sportsbook provides a comprehensive range of bets on multiple sporting events.

When it comes to online casinos in Germany, access to gambling will be provided by Jaxx AG, a German gaming company. Finally, the third online license went to the state lottery.

The remaining 15 German states signed a deal under which the gambling regulations will be more restrictive. This not only led to criticism in the gaming industry, but also the European Union is investigating whether the restrictions comply with free market rules by favoring state monopolies.

The gaming companies which will operate in Schleswig-Holstein will be subject to 20% tax on gross profits. Betfair alone is expecting to pay around $5 million dollars annually to the German state. Allowing online sports betting in Germany is expected to eat into illegal betting market, which is estimated to be around $6-7 billion dollars.

Betfair also offers online casinos, poker, and live internet dealing. The mobile betting is also accessible via the company’s technologically advanced platform.