Fri, Jun

Online Gambling Given Green Light by German State


German FlagThe announcement that the state of Schleswig-Holstein passed pro online gambling regulations on Thursday, September 15 was greeted with much excitement by online gambling group Bwin.party Digital Entertainment and many other companies who have a foot in the German market.

As a result of Schleswig-Holstein’s approval of competition-friendly internet wagering laws, a limited number of gambling groups will have the chance to apply for a license to operate most of casino games, sports betting, exchanges and poker online.

Shares in Bwin.party Digital Entertainment immediately went up by more than 12% at 1.28 immediately after the decision.

Although the fact that the remaining 15 German states still propose a tough line on the online gambling regime, Schleswig-Holstein’s decision to regulate its’ online gambling industry has resulted in a lot of pressure being reduced by companies such as Bwin.party Digital Entertainment who have welcomed the decision.  22% of the newly merged Bwin.party Digital Entertainment is generated by the German market.

Bwin.party Digital Entertainment and Betfair will, without doubt, apply for operating licenses in Schleswig-Holstein as they have been pushing very hard for change in the laws in Germany.

Germany’s sixteen states will be meeting in October to try and reach a compromise that will be acceptable to all parties.