Germany’s New Online Rules And Regulations For Gambling
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The updated Treaty on gambling (ISTG 2021) will come into effect on March 12, 2020. It will give new licensing possibilities to those in the online gaming industry. The current ban on online slot machines and poker will be lifted.
Account verification is necessary to verify the credentials of players. It prevents fraud and crimes. The organizer will set up a file to which all providers must report and join. Germany’s new online gambling regulations are available here.
The slot machines are required to spin and last for a minimum of 5 seconds and the maximum stake for each is capped at €1.00 per game.
There are some minor restrictions to the new online gambling regulations. Online gambling platform advertising is not allowed between the hours of 06:00 and 21:30. The new law also prevents platforms from the cross-advertising.
Germany has new online gambling regulations. A limit of €1000 per month has been placed. Betting is allowed on the outcome of the game and the events that take place. Live betting is also allowed. Sports betting on illegal behaviour is not permitted.
Online operators should update their systems according to the new laws made and abide by them.
By 2021, private companies can apply for licenses to offer virtual slot machines, sports betting, and online poker. The new body will be formed that will act as a gambling regulator in the German state of Saxony-Anhalt.
Germany's new online gambling regulations are a compromise between Sweden and the Uk. Online companies wanting to operate in Germany will have to apply for a specific license and have a base in the country. They will also have German speakers to communicate with players and pay taxes.
Unlicensed gambling will not be participating in payment transactions. Deposits and withdrawals via anonymous means of payment such as bitcoins are not allowed.
The new treaty must be effective before the new regulations can be implemented. Companies must comply with the regulations and make their sites more attractive. They have to pay taxes and licensing fees. They should consult with experienced German legal professionals. The player has to play for a minimal amount issued by the state and not more than that.
Germany’s new online gambling regulations are published. They require the company to comply with data protection and storage requirements and regularly monitor their IT security concept.
