Legal online casino market officially launched in Germany on July 1
July 1, 2021 was a landmark date for the whole of Germany, as the first official online gambling market began its work in the country on that day. It is based on the provisions of the State Treaty on Gambling (GlüNeuRStv), which was approved by German lawmakers last year.
Before then, sports betting was the only form of online gambling allowed by the authorities. But now operators officially operating in German jurisdiction can offer online casinos, slots and poker on their platforms.
It is important to note that this launch follows a vote by Bundestag representatives, who recently considered and passed a controversial bill setting the amount of taxes for the industry. From now on, gambling companies are required to send 5.3% of their turnover to the state treasury.
However, operators have criticized such a tax policy as well as other elements of online gambling management. For example, the sports betting association, Deutsche Sportwettenverband (DSWV), argued that such a burden would “jeopardize the success of the new gambling regulation in Germany.”
According to the organization, a turnover tax, a €1,000 monthly spending limit on online casino services, and a €1 per spin betting limit on slot machines would create an unattractive environment for licensed operators.
Therefore, the DSWV has called on the German authorities to impose tough sanctions on offshore companies to keep “official” from falling profits and ensure their profitability.
In parallel, compliance and anti-money laundering service provider Kerberos said regulation creates legal certainty in the German market, but anti-money laundering needs to become more digital and modern.
Recall that the German legislature approved a 5.3% tax for online casinos.