GVC Holdings, the British iGaming and sportsbook operator has unveiled new plans that will see four of its biggest brands (Ladbrokes, SportingBet, Bwin, and Gamebookers) allowed to operate online sports betting in the newly-regulated German gambling market.
An official press release states that the licenses are effective immediately, however, GVC is still attempting to finalize details for the implementation of a Tolerance Policy that is part of the country’s new state treaty on gambling.
The tolerance policy requires operators to impose a €1000 ($1,180) monthly betting maximum for Pay and Play Casino players, although there is the possibility of furthering this limit to €10,000 ($11,805) if the correct procedures are put in place. The policy also states that up to 1% of an operator’s clientele will be able to wager up to €30,000 ($35,400) per year.
Brands will also be required to utilize deposit limits until the completion of ‘customer verification processes’ and limit individual bonuses to an annual maximum of €100 ($118).
Shay Segev, Chief Executive Officer for GVC Holdings, used the press release to discuss the new licenses and the firm’s plans to implement the tolerance policy in more detail:
The award of these licenses is great news for GVC Holdings, bringing the clarity and certainty that we have long sought for sports betting in Germany. Combined with the recent Tolerance Policy, we can now look confidently to the future, building on our position as a market leader by delivering an unparalleled and innovative experience for our German customers. The much-anticipated regulation of online gaming in Germany re-enforces our position as the most globally regulated and responsible operator in our industry.
The New State Treaty on online Casinos in Germany (GluNeuRStV) is a newly-created piece of german legislation that aims to make it easier for iGaming operators to operate within the country.
The legislation was ratified back in March 2020 but rather than waiting until Summer 2021 to launch, iGaming firms such as GVC Holdings will be allowed to operate from October 15th, 2020 so long as they comply with all the principles outlined in the GluNeuRStV.
It’s unsurprising that GVC Holdings are one of the first firms to be granted a license to operate in Germany considering the company is already deeply embedded into the market because of their Austrian Bwin brand that has previously sponsored major German soccer teams like FC Bayern Munich. Bwin has been a major proponent of securing a more gradual launch for the German market and started circulating a transitional framework back in August. They also work in partnership with some of the biggest casino software providers such as Microgaming.
Germany is still waiting for 13 of its 16 states to ratify the GluNeuRStV, with several already having misgivings over the lack of a transitional iGaming framework.