British gambling company bet365 has emailed affiliate partners to stop advertising the brand’s online casino in Germany on December 30. The bet365 German casino will shut down while gambling laws are overhauled.
Bet365 to Wind Down Germany-Facing Online Casino
British sportsbook and casino operator bet365 will wind down operations for its Germany-facing brand on December 30, the company has announced. Ahead of regulatory overhaul, the bet365 German casino will seek to comply with the upcoming regulatory changes and wait for a go-ahead from the state.
The country is now preparing for an interim regulatory regime, which will invite players to obtain the necessary permits to run operations in Germany. Furthermore, Bet365 sent an email to affiliate websites in the country that the operator would be winding down operations and cautioned affiliates to stop promoting the brand locally.
Nevertheless, the brand will keep its online casino open in Austria and available in German. Bet365 is readying up for a major overhaul of gambling laws in Germany with the Third Treaty on Gambling not quite settled yet.
Germany tried to approve the newly-proposed gambling laws twice already but has failed. So far, only sports wagers are allowed in Germany with online gambling taking a back seat. While Germany is trying to negotiate a final regulatory framework, an interim gambling regime will arrive on January 1, 2020 and run through 2021.
Germany should come up with a new regulatory framework approved by lawmakers in all 16 federal states by the end of 2021.
Hesse Liberal and Playing by the Book
Meanwhile, one of the chief proponents of timely regulatory overhaul has been the German state of Hesse. As early as November, the Regional Council of Darmstadt warned that operators indulging in illegal gambling activities, meaning poker and online casino, would face legal and regulatory consequences.
Yet, Hesse has been pushing for the implementation of the Third Treaty on Gambling in a bid to establish clear-cut rules for gambling in Germany. While Hesse’s position may seem that of a hardliner, the state is actually eager to introduce both online casino products as well as online poker.
Schleswig-Holstein and Rhineland-Palatinate are the two other states looking to create a more accommodating regulatory environment. Eliminating any challenges ahead of states willing to work with gambling companies would bolster state coffers.
Moreover, Bet365 is one of the most successful private gambling companies. The company’s boss, Denise Coates, has been amassing one significant pay check after another. In 2019, her salary reached £323 million, making her the best paid female executive worldwide. In contrast, she received £265m in 2017.
By now, Coates’ net worth is estimated at £9 billion or $11.9 billion.
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