..

Germany Online Gambling Tax Hike Not Likely: Bwin.Party, Betfair Surge on News

Written by:
Aaron Goldstein
Published on:
Jul/19/2011
Germany online gambling

Germany is unlikely to hike taxes by 17 percent on all online gambling stakes after the European Union condemned the idea on Tuesday.  This sent Bwin.Party shares surging.

888 casino bounus 888 casino bonus

Bwin.Party topped the mid-cap gainers board, up 7¾p to 140p, while online betting exchange Betfair Group gained 16½p to 632p.

Some analysts predicted that the German government would simply “tweak” the tax increase, maybe lowering a few percentage marks.

Reiner Haseloff, premier of Saxony-Anhalt and current spokesman for the states, told the Financial Times that “Germany has a distinct legal tradition” which allowed strict regulation of betting to prevent gambling addiction.

“We will see if we can find compromises on the points that have been raised,” he said, while saying he was not worried by the possibility of renewed challenges in Europe’s highest court. That was “not an existential issue” for the states.

Bwin and Betfair both argued that Germany’s intention to favor its state run lottery would directly hinder any viable business plan for those companies electing to do business in the nation.

- Aaron Goldstein, Gambling911.com

Gambling News

Newest Downtown Vegas Casino Set to Open, Pandemic or Not

Newest Downtown Vegas Casino Set to Open, Pandemic or Not

If the 1,000-seat sports betting auditorium at the Circa Resort & Casino doesn’t get you, maybe the six rooftop swimming pools will.

The Buffet is Back at Hard Rock Casino....But Reinvented

The Buffet is Back at Hard Rock Casino....But Reinvented

Hard Rock Hotel & Casino Atlantic City is the first casino in Atlantic City to reopen their buffet as a new socially distanced all-you-can-eat concept. The newly reopened Fresh Harvest safely delivers all the classic comforts and international favorites of a buffet straight to the table for a one-time price of $29.99 per person. 

How Much Money Can You Make from Gambling?

If you are looking to make money from the gambling industry then you need to look at it from the simple way of the house and the player. The house always wins, is not just a saying, it is a reality. Over the long term players always lose, and just look at Vegas and other casinos around the world.

Accusations Levied Against William Hill for Cheating on In-Game Bets

Accusations Levied Against William Hill for Cheating on In-Game Bets

Nevada's William Hill operations have been accused of cheating players with in-game wagers, accusations that Hill calls "outrageous".

Moving from Online Gambling to Virtual Reality Gambling 

Online gambling is one of the most flourishing businesses worldwide. A large number of people visit the internet to bet on their preferred sports and games.  In the last few decades, it has witnessed rapid growth due to technological innovations and advancement.

Syndicate