iGaming revenue in Germany continues to climb
Germany is known for its bureaucracy, making it difficult for some businesses and services to break into the market. The strong economy of Europes most populous country, however, can make the effort worthwhile.
For some years the gambling laws in Germany were not very straight-forward and caused confusion amongst operators and players alike. A new law coming into effect in July 2021, bearing the bulky name of Glücksspielneuregulierungstaatsvertrag (GlüNeuRStV), aims to regulate the market. Germany will be able to issue its own licences, following other countries and regulatory bodies such as Malta, the UK, Sweden, and Switzerland.
There are already some details known, which don’t appease everyone. According to the drafted GlüNeuRStV there will be a monthly deposit limit of 1.000 Euro across all licensed online casinos, as well as a limited stake of just 1 Euro per spin on slots.
Good predictions for the German market
This seems daunting to any operator trying to capitalise off the growing iGaming market. But here is the good news: a recent study by Goldmedia predicts not only, that the annual revenue from online gambling and sports betting is expected to rise to 3.3 billion Euro by 2024, but that 38% of players are happy to resort to online casinos licensed in other territories. This could spark a run on iGaming sites without a German licence.
Despite the restrictive new gambling law, the future seems to be bright!