Topic: An Insight into German's loosened restrictions (hopefully) (Read 147 times)

No doubt it's in favor of gambling companies in Germany.
But it doesn't prevent the victims especially the underaged that get into gambling and losing their earnings in a casino that charges a 10% house edge.
I'm not against them but what I've seen is people start gambling for fun and start to think of it as their earning source, especially under the 20s.

“Sports betting is fun and if you spoil the game, customers will have fun somewhere else,” said Dr Wulf Hambach.

Renew the laws
Make sure the rules and regulations are not too harsh for the people engaging in them
Make sure the gambling section is healthier for both parties.

There is something called the Laffer curve which basically states that there is an optimal point at which a tax rate maximizes the tax revenue and any raise beyond that decreases the revenues governments can get, I think this is what is happening here

Fair rules are mostly the common reason why gamblers are leaving the casinos, because some of them are not fair at all and also this is one of the reason why some gambler choose to play in the dark market, because the law is not fair and the casinos are just taking advantage it. If Germany really want to increase the profit in gambling industry again, they must adopt the change but don't expect that it will eliminate dark market, and restrict the underage from gambling because its not.

A super interesting article which portrayed how heavy restrictions can cause probelms not only for the people but for the government as well, since with more restrictions in things like Gambling, people try and look for other options and opportunities so they move onto the black, unregulated market, which ends up bad not just for them but for the government alike.

Exactly.

Healthy regulation is going to get them so much further compared to draconian bans/restrictions on betting.

Let the people choose for themselves what they want to do with their money, but of course have the necessary measures in place to still ensure that sportsbooks/casinos are operating fairly and aren't ripping people off.

Exactly.

Healthy regulation is going to get them so much further compared to draconian bans/restrictions on betting.

Let the people choose for themselves what they want to do with their money, but of course have the necessary measures in place to still ensure that sportsbooks/casinos are operating fairly and aren't ripping people off.

What the government needs to do:

Renew the laws
Make sure the rules and regulations are not too harsh for the people engaging in them
Make sure the gambling section is healthier for both parties.

Restrictions are supposedly meant to protect its protect and of course to give more advantage to the government but if its too restricted many will look for other ways to gamble and the government can’t really control that. Anyway, if they see that gambling industry on their place is booming despite of that restrictions I guess making a resolution to update that restriction is necessary, its time now to give more freedom and this can also be an opportunity for the government to collect more taxes.

Gambling Insider was in attendance at the Betting on Sports Europe conference for a discussion on the new proposed regulations in Germany.

The panel, comprised of Dominik Beier, Managing Director, Emotion Group, Nico Jansen, Bet it Best Founder & CEO (through video call), Christian Madlindl, Magic Sports Media COO, and Dr. Wulf Hambach, Hambach & Hambach Co Founder and Lawyer.

With worries that users may move into muddy waters and into the black market due to tight regulations, in such a complex market, what is allowed, what isn't allowed, and who is responsible?

The conversation around Germany, and its restrictive and high taxed gambling market, saw the panel of judges discuss what is needed in terms of compliance, laws and marketing regulation.

“Sports betting is fun and if you spoil the game, customers will have fun somewhere else,” said Dr Wulf Hambach.

“A lengthy activation period can cause customers to easily drop out,” he explains. “If I [a user] am registering at a website that is too complicated, or a website that asks me to verify myself all of the time, then I am not coming back and will choose a different option.

“The return of investment all depends on that activation period, viability and being realistic… and exemptions, of course, give players more freedom to play.

“The customer doesn’t see that the market is black, they just see a colourful offer on the internet, easy to register and if they win, they get their money.”

Jansen explained: “We already see a shift in revenue, in 2019, pre Covid-19, the overall revenue for slots was €6.1bn ($7bn); for 2021 the estimated overall revenue for slots is €3bn, so it has been cut by 50%. We already see a shift and I’m pretty sure this revenue is down to the black market.”