German Betting Groups Receive Licenses
In Germany, GVC Holdings' bwin, SportingBet, Ladbrokes and Gamebookers brands will begin offering sports betting products in early 2021. Gauselmann Group's Cashpoint subsidiary became the first German sports betting company to be licensed for both online and land-based sports betting. IBC Sportsbetting also received a license to offer retail and online sports wagering under the name Wettarena.
GVC Holdings’ bwin, SportingBet, Ladbrokes and Gamebookers brands will begin providing sports betting products to German customers in early 2021. GVC Chief Executive Officer Shay Segev said, “The award of these licenses is great news for GVC, bringing the clarity and certainty that we have long sought for sports betting in Germany. The much-anticipated regulation of online gaming in Germany reinforces GVC’s position as the most globally regulated and responsible operator in our industry.”
Under the terms of the license, bettors are limited to wagering $1,181 per month, which can be increased to $11,810 if certain criteria are met. There will be deposit restrictions on a customer’s account until the verification process is completed.
Gauselmann Group’s subsidiary Cashpoint, based in Malta, also announced it is the first sports betting company in Germany to be awarded a license for both online and land-based sports betting. If received a license from the Regional Council of Darmstadt on October 9.
Gauselmann founder and management board spokesman, Paul Gauselmann said, “Back in 2014, my corporate group more than satisfied all of the requirements for the first licensing process and emerged as number one from the examination of this extensive process. Unfortunately, it has taken until today to end this state of legal uncertainty. However, it gives me all the more pleasure that we are now finally the first to be license holders.”
In addition, one of Berlin’s top betting providers, IBC Sportsbetting, also received a license from the Darmstadt Regional Council to offer retail and online sports wagering nationwide under the name Wettarena. IBC Sportsbetting Managing Director and owner Gökhan Balkaya said, “For us, the years of hard work and waiting for the concession have finally paid off. We are pleased to be represented on the German market as an independent betting provider and look forward to a successful entrepreneurial future. We would also like to thank our former partner Bet3000 for the successful cooperation and wish them all the best.”
Now split from Bet3000, Balkaya said Wettarena plans to significantly expand its market share. Besides offering online sports betting on www.wettarena.de, the company expects to open numerous new land-based betting shops by the end of the year. Its new location in Bochum will be one of the largest betting shops in Germany at 17,200-plus square feet, featuring a modern design and state-of-the-art technology, plus gigantic video walls displaying sports events.