Schleswig-Holstein Makes History with Egaming Treaty
Gaming history was made this week as the Parliament of Schleswig-Holstein passed Germany’s first gaming treaty. The decision couldn’t have passed by a narrower margin. The vote was 46 to 45.
Schleswig-Holstein is the first of the sixteen lander of Germany to pass such a motion. This is putting a lot of pressure on the other states to follow course. Germany has been discussing online gaming regulations for some time.
Back in August, many parties opposed the movement. The asked the ruling party to consider the long-term implications. They were concerned that the decision would turn Schleswig-Holstein into what they dubbed “the Las Vegas of Germany.”
Many members of Parliament seemed to share their concern. If they received one more vote, Parliament would have ruled in their favor. The opposing parties may have waited too long to get support. They started voicing their objections two days after Schleswig-Holstein announced it would delay the vote, originally scheduled for August 24.
Terms of the treaty
The new legislation will allow the following:
- Betting exchange
- Sportsbook products
- Blackjack, baccarat and all other casino games
Betfair has stated its eagerness to apply for a gaming license in Schleswig-Holstein. They say the new legislation will help create a market for online gambling in Germany. They will be even happier if the other German states approve similar treaties.
Betfair isn’t the only Internet gambling company that is psyched about the decision. Other companies such as bwin.party are sure they will benefit more from the treaty than the federal proposals made in April, which caused bwin.party’s share price plummeted 16%.
The proposals from the federal government suggested a five year test period. They also wanted to impose of limit of seven licenses and create a tax of 16.66%. Many stockbrokers advised investors to buy shares in bwin.party.
Jaxx is a third company that announced its intention to buy gaming licenses. They say the other states would be wise to follow the model Schleswig-Holstein set. They feel these decisions will serve the greatest good by protecting players, consumers and the interests of businesses.
The gaming community eagerly awaits other states decisions. Their treaties will create a friendlier environment towards casinos and players.
What are your thoughts on the Schleswig-Holstein treaty? Feel free to share your opinions in the forums.