The more progressive attitude of Germany's Schleswig-Holstein State towards online gambling is positioned to reap rewards as the European Commission has approved the States draft online gambling bill.
Schleswig-Holstein opposed the other 15 State Minister Presidents‘ decision on an amended Gaming Treaty, and instead drafted and submitted a less draconian, independent, online gambling draft regulation to the European Commission.
The draft bill proposes a 20% tax on gross profit as opposed to the harsh 16% revenue tax in the amended Gaming Treaty , that there be no limit put on the number of operators awarded licences, that all products should be allowed and that a strict consumer protection mechanism be put in place.
Two points raised by the European Commission on the Schleswig-Holstein draft gambling bill questioned why only large banks will be able to give guarantees in the licencing process and the other refers to regional lotteries that aren't relevant to online betting. Both points are considered minor.
"Betfair welcomes the European Commission's approval to the Schleswig-Holstein draft gambling law, which is a decisive step forward in the political process to modernise gambling regulation in Germany. Betfair is committed to obtaining a licence in Schleswig-Holstein if the draft gambling law is passed by the Schleswig-Holstein Parliament", commented a Betfair spokesperson.
Bwin.party spokesman, John Shepherd told Dow Jones Newswires: "With just two minor points to be addressed, we view the EU's findings as a clear signal to the other 15 federal states that Schleswig-Holstein is moving in the right direction."
Source: InfoPowa News