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German Sports Betting Market Soaring

GERMAN SPORTS BETTING MARKET SET TO SOAR
 
Euro 5 billion mark will be breached by the end of this year claims recent independent study.
 
The German sports betting market may be roiled by legislative confusion, but it holds out the promise of big rewards for operators, according to a new study from the independent research and analysis company Gold Media.
 
The study of land and online gambling potential predicts that by the end of 2016 the German sports betting market will be worth Euro 5 billion or more...a significant Euro 300 million rise from the end-2015 figure, thanks in part to the currently running Euro 2016 football championship.
 
To give some perspective on the impact of Euro 2016, bear in mind that UEFA has recently estimated that wagers on this years football extravaganza will reach new heights at Euro 68 billion.
 
Gold Media has taken into account both licensed and "grey" unlicensed activity in the market, predicting that the "grey" operators will deliver the lions share of the betting bonanza at Euro 4.9 billion.
 
The study predicts that the German government will gather in tax revenues on sports betting of around Euro 250 million, with almost all of it coming from "grey" unlicensed companies who have nevertheless elected to pay tax (in the hope of eventually getting a licence once the lawmakers have cut through the legislative obstacles that continue to restrain development in the market).
 
That development has continued in spite of the muddled efforts of German lawmakers, with Gold Media calculating a creditable "grey" market growth rate of 12.1 percent annually since 2012 despite the dithering in political circles.

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Gambling News :

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

Jack Lam denies bribe allegations - Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.

Fonbet Gets Russian Betting License - #Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.

New Attempts to Restore the Wire act - In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.

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