Germany has responded to a giant surge in the number of online casino players with new legislation in the area. The Germany Interstate Treaty on Gambling (ISTG) will have a heavy impact on licensed casinos. While the recent amendment or regulations would relax certain restrictions on licensed casinos, it might impact the unlicensed casino market.
Let’s outline what this legislation means for online casinos and the gambling industry.
According to the online gambling laws in Germany, a game of chance falls under the banner of being both legal and sometimes not.
Though the new laws are still awaited to come into force by July 1, few have started being practiced.
As per various reports and experts, the conditions or new amendments will be more precise and turn strict on the licensed casinos. Still, licensed casinos in Germany face a state of flux - where a lot of restrictions are into practice, such as Darmstadt sports betting licenses.
Bookmakers and casino operators hope that the new regulations wouldn’t turn out to be more strict or peculiar than before.
First off, let us confirm the incorrect rumour that people believe that a casino without a license is illegal.
At the same time, some believe that unlicensed casinos aren’t trustworthy. However, both the notions are incorrect because a casino without a license is the one that holds the license of foreign authorities. It is entirely legal to play at a casino without a license, and it provides various opportunities as well, such as bonuses, wagering requirements, playing durations, etc.
The new ISTG regulations offer both high stress and also liberty to unlicensed casinos. After July 1, the bookmakers from outside Germany will also be allowed to acquire German licenses. Many players would switch to casinos without licenses because of various advantages such as limitations on deposits, bonuses, more open, and minimal restrictions.
We don’t precisely know what is going to adjust for July 1, 2021.
Experts are making predictions, but the experts reiterate specific possible changes such as advertisements, relaxing the ban on online slots and poker games, etc.
German authorities can bring a 5-second wait period after every spin. This situation would remain slightly unfair for punters. Hence, the result might attract casinos without licenses.
If compared with the unlicensed casino, the bonuses and rewards are lesser at a licensed casino. German authorities are looking forward to making changes in this segment as well. Licensed casinos will be allowed to host more bonuses but with various limitations.
Many players face the issue of slow withdrawal. Also, the withdrawal process often leads to crediting lesser amounts at punters’ accounts. The main motive of new regulations is to manage fraudulent activity and cheating. Hence, a fast withdrawal policy is also something that can come in the new regulation.
There is still ambiguity over what the full impact of this legislation is going to be. But, one thing is evident that the new regulation will not impact players directly as it builds to tackle punters’ issues only.
Responsible gaming is one of the premier considerations of July 1st regulations.
