Germany Launches Online Casino Market With State Treaty
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The German government has implemented a new State Treaty on Gambling officially legalizing online casino and poker across the country.
Germany has legalized online casino and poker games. The State Treaty on Gambling came into effect on Thursday. It will create a new regulatory body to oversee the industry from 2022. There will be a 5.3% turnover tax for slots and a sports betting measure related to in-play wagering.
Germany launched online casino market with State Treaty on Gambling. The industry is concerned about the limits on legal operators and excessive taxation. It also wants to crackdown on unlicensed gaming across Germany. . ... In addition to the 5.3% tax rate, the State treaty includes a number of restrictions for slot gaming. Every player must adhere to a staking limit of €1 ($1.18), while slots can only have a five-second spin speed. There is a €1000 ($1000) per month blanket deposit limit across all player accounts.
Lawmakers agree on toleration for unlicensed online casino operators. They can operate as long as they adhere to the new federal gambling treaty rules. Some experts warn the tolerance is a free ticket for illegal providers. PayPal announced it would stop processing payments from German customers to offshore gambling sites in 2019. Visa also banned German online casinos from processing deposits and withdrawals from its credit cards.
