This story is sponsored by Betfair
Betfair has become one of the first three companies to offer regulated online sports betting within Germany after being awarded a licence by the breakaway federal state of Schleswig-Holstein.
The government of Schleswig-Holstein announced this morning that online brands Betfair, myBet (the new name for the Kiel-based company formerly known as JAXX SE) and Oddset (owned by local lottery provider NordwestLotto) will be allowed to offer sports betting over the internet with immediate effect until 30 April 2018.
Interior Minister Klaus Schlie said today in the Schleswig-Holstein capital Kiel. “Stringent requirements ensure that only serious and commercially viable enterprises are licensed to operate in the market.”
Betfair’s chief legal and regulatory affairs officer Martin Cruddace added in a statement that the company was “delighted” to have been awarded one of the first three licences, allowing the offer of its core exchange product in the territory. “Schleswig Holstein’s government should be applauded for its efforts to implement a regulatory regime that will provide security for consumers, transparency for regulators and the freedom to compete for EU operators.”
Germany’s northermost Land also revealed another 23 gambling companies have also now applied for sports betting licences, while 14 have also registered their interest in online casino licences, covering the offer of poker, roulette, baccarat and blackjack.
Schleswig-Holstein was the only one of the 16 German federal states not to sign up to a new Interstate Gambling Treaty under which the remaining 15 Lander (G15) plan to issue no more than 20 licences for private sports betting operators based on an unworkable 5% turnover tax. SH is planning to issue unlimited licences to operators for all products based on a 20% gross profit tax (GPT).
Betfair started gearing up for the opening of the market in December by announcing its sponsorship of Kiel Week, the largest sailing event in the world, which takes place every year in June. PokerStars last November also inked a deal with local German fourth-tier football club VfB Luebeck which saw its 17,800-capacity stadium renamed the PokerStars.de - Stadion an der Lohmühle. bwin also announced a deal with leading handball team THW Kiel, based in the northern federal state’s largest city.
Betfair’s betting exchange consistently offers the best odds on horse racing. To find out more, visit Betfair.com.
