German Casino Market Celebrates Implementation of Gambling Treaty
According to the latest casino news https://logincasino.org/news/sort/casino, the first of July became a special day for the industry as the GlüStV 2021 was enacted.
This means big changes for the German online casino market, which has finally got the right to be legal in the global iGaming arena.
The new edition of the law has both pros and cons
Although the new bill starts the next era for the digital casino market in Germany, experts emphasize that it still has many contradictory questions. However, it is necessary to dig into the gambling industry’s history to understand everything.
Initially, only sports betting was permitted for German players as a form of online gambling. This resulted in the growth of the black market because there was a demand for online casino products. Previously, only gamblers from Schleswig-Holstein could have access to online casinos because this state could issue licenses since 2012. Players also used the services of overseas providers but there was confusion regarding what was allowed and what was not.
Now the German government decided to allow online gambling but with some restrictions. This will create a single regulatory framework across the industry and will help to have more control over the market. Operators will have an opportunity to get official permission – a license, which will ensure that they can provide casino services in the digital space.
The Treaty on Gambling brings many changes for gamblers, first of all. They will be able to play games on privately-owned gambling websites. To protect users of such services from gambling addiction, the responsible governmental body will establish a deposit cap – players will be able to spend only one thousand euros monthly. Those who already have signs of gambling addiction will be added to a special register, which won’t allow them to gamble again. In addition to this, the government has developed preventive measures to protect citizens from the negative effects of the industry. Digital casinos will implement a so-called “panic button”. When a person plays too much, he or she can restrict himself or herself from using services for twenty-four hours. It is worth mentioning that almost 430 thousand German citizens are addicted to gambling. More data on various markets can be found here https://logincasino.org/.
Despite the fact that the newly developed legal framework is expected to have lots of advantages, it has got much criticism from the casino industry representatives and even those who aren’t involved in it. The latter group, for example, states that the new bill backs up the financial interest of operators and isn’t focused on general goals. It seems that the German government is aimed at attracting more finances to the state coffers but doesn’t think about the gambling-related harm. The open issue is the protection of minors and incentives to gamble at online casinos.
Anyway, the new law has been implemented and will open many opportunities for those companies, which want to operate in the casino market legally. Before the market launch, companies that provide gambling services called the government for controlling the black market and taking measures against unlicensed operators. This is mostly caused by the German Sports Betting Association’s statement that the regulations will only make players switch to the black market as it will be more attractive for them because of its conditions.