Online Gambling Legislation Passed By The German State

Recently the German state Schleswig-Holstein has passed the online gambling bill, allowing for a number of games to be offered by the online operators.

The online gambling bill draft of the state of Schleswig-Holstein has been approved by the EC. The state is now aiming for a unified treaty with the rest of German states.

The online gambling legislation passed by the state allows betting exchanges, sport books, poker and all online games except baccarat, blackjack and roulette. The law will apply starting with the 1st of January 2012 and the licenses will be issued from March 1, 2012. There are unlimited licenses and the German state will apply a 20% tax on gross profits.

One of the online gambling operators interested in the German market is Betfair, which already stated that will apply for a license there and also hopes that the other 15 German states will legalize online gambling. Betfair has made several legal proceedings for this purpose in the past.

Bwin.party also manifests interests for the German market and will also apply for a license after the law will produce its effects. After the law was passed, the share prize went up 14% in Schleswih-Holstein. Bwin.party’s shares are recommended for buying after the legalization of online gambling in Schleswig-Holstein.

The Kiel based Jaxx company will also apply for a license in Schleswig-Holstein after the new law will produce its effects. Its brand called MyBet has just obtained in license in Belgium too. As Jaxx’s spokesman stated, the law that was passed provides certainty, players’ protection, sustains the interests of consumers and the liberty of entrepreneurs.

It is expected for the rest of German states to adopt the same attitude regarding online gambling, according to the opinions of the experts.