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Online Casino Gambling Booming in Germany

The legality of online casino gambling in Germany still remains questionable, yet until the issue is formally resolved, German citizens are making the most of the situation. With approximately 290,000 Germans gambling regularly at an online casino, and spending over $1.5 million each year on wagering, the German industry is simply booming.

The Deutsche Welle broadcaster in English has explained that despite that the only formally legalized form of gambling is land-based casinos, no one has yet been prosecuted for online casino gambling in Germany. Deutsche Welle further explained that online casino providers that are located outside of German borders have complicated the issue for law-makers, who have difficulty defining a single law applicable to users and providers of the online casino both in and out of Germany.

Another aspect complicating the legal issues of online casino gambling in Germany is taxes. While the country maintains a monopoly over land based casino gambling, which pockets them over half of the industry revenues in corporate tax, the unregulated online gambling sphere has most of its profits distributed among private foreign accounts.

This is one of the supposed reasons behind Boris Becker’s long wait before deciding to promote the non-commercial division of Pokerstars.com. Despite that the online casino gambling in this division uses play money only, the intention is none other than to draw people in to playing at the real money version of the online casino. According to Tobias Hayer from the University of Bremen, online casino gambling has lowered the threshold for compulsion.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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