Providers Prepare for New Gambling Regulations in Germany
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- Category: Gambling Industry
- Created: Saturday, 18 January 2025 22:00
According to the annual report from gambling regulators, Germany’s gross gaming revenue in 2022 was 12.5 billion euros. It increased by more than a third. In addition, 80 percent of the revenue came from brick-and-more facilities. However, times are changing, and providers are now preparing for new gambling regulations in Germany.
According to Germany's Federal Republic's National Risk Analysis, the gaming industry has a significant potential for money laundering. The rapid handling of funds and the large volumes of transactions often form the basis of the evaluation. Several typologies for terrestrial gaming, particularly casinos, were created by the Financial Action Task Force in 2009 for their study on gambling industry risks. The argument goes like this: when casinos take deposits and send money, they engage in potentially dangerous financial activity. Physical gambling enterprises, which rely heavily on cash, are especially vulnerable.
Some formerly banned online games are now legal under the new Interstate Treaty on Gambling, which took effect on July 1, 2021. Accordingly, by October 2023, 78 licenses for online poker, virtual slot machines, and casino games had already been issued. So, it's safe to say that legitimate internet gambling will only grow in significance over time. Due to the variety of payment methods, including cryptocurrency, there are hazards associated with online gambling. These techniques work well for masking the player's identity and the source of the content. However, it didn’t allow people to be an online bookie in the country.
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