Germany's betting market is down 16.1% in profits for the year

Germany's betting market is down 16.1% in profits for the year

 

The allslotsonline.casino has asked the German government to start issuing licences to online bookmakers again, based on the circumstances that the regulated betting sector has fallen by more than 16% in a year, we report, citing the US publication Focus Gaming.

 

According to the German MinFin, turnover in the industry fell from a record €9.3 billion (2019) to €7.7 billion in 2020. The gap is 16.1%, while taxation fell by 16.2% over the period, with revenues of 389 million euros.

 

Also the aforementioned German sports betting association has expressed concern about the fact that from the regulation of online casinos in the country, namely the veto on online gambling, customers and gamblers in the country have preferred offshore resources that do not have a license.

 

The head of the DSWV, Matthias Dams, said that regulations for online gambling providers that the government introduced in mid-October had increased problems for licensed operators.

 

According to a survey of association gambling holders, the financial turnover of their firms has dropped by more than half. This was due to amendments in the control of gambling operations.

 

Matthias Dahm said that there is a definite need to update the regulations to ensure that players are protected from illegal offers from agencies operating illegally. Otherwise the big players in Germany, who already have weight in the market, will leave.

 

As a reminder, the German government has previously proposed casinos not on gamstop the introduction of a tax on online poker (in the size of 5%), online casinos (video slots would give 8%). According to Matthias's conviction, a percentage of 8 points for online slots is high: players would leave the gambling zones of international licensees.

 

It is also reported that German authorities are planning to launch an online gambling market by 1 July 2021 at the latest. Industry experts are involved in the initiative and tax money will go to the state budget.

 

Betting operations in Russia are allowed with restrictions. More than 20 sports betting providers are currently in operation. Customers can also interact in various ways, legal and not, with internationally licensed bookmakers and online casinos.

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