German State Legalizes Online Gambling

09/23/2011
By Pamela PattersonGoogle

 

Big news for European online gamblers! Following other examples in Europe, Schleswig-Holstein, one of 16 German states passed a law that will now allow online gambling within its jurisdiction.  The law will come into effect on January 1, 2012 and the state will start to issue licenses starting from March 1, 2012.  Unlike in other places, there will be a limit on the number of licenses that will be issued.  The state government will earn 20% of the gross profits generated on all allowed products related to gambling including betting exchanges, sports books betting, poker and online casino games with the exception of roulette, blackjack and baccarat. 

 

Gambling companies including Betfair, Jaxx and Bwin.party are showing interest in applying to purchase these licenses (which we imagine will be quite expensive as they are limited in number).  These companies are hoping that the rest of Germany will slowly follow suit when they see the revenue that such an endeavor will no doubt generate for Schleswig-Holstein.

 

Similar legislation is becoming increasingly popular across Europe.  Such legislation not only allows for an always-welcome boost in a state’s economy, it also provides protection for online players through better gambling regulations. 

 

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