Gamblers hopeful German rules will be relaxed

[The Buzz]

Reuters is reporting that Germany might have to relax its potential online gambling laws after criticism from Britain and Malta and rulings by the European Union's top court.

Germany currently bans online gambling, but wants to implement new laws in January. Critics say the proposed laws do not lead to an open gambling market.

From Reuters:

Following a three-month consultation, the European Commission said on Tuesday that the law, which Germany wants to adopt in January, must take account of factors such as judgments by the European Court of Justice last September.

The statement raised hopes that Germany may have to alter its plans, lifting shares in BwinParty and Betfair by 5.5 percent and 2.6 percent respectively by 1329 GMT.

UBS analyst Simon Whittington said the closure of the German market to online gambling companies was now looking more unlikely.

"In our view, this helps decrease the likelihood of a full closure of the German market. We believe operators will continue to trade in Germany if there is any legal uncertainty and (the Commission's) announcement is clearly supportive for operators' arguments," he said.

[rak]

Traveling through Germany - I can safely say it is less of a "nanny state" then Australia is. Its very liberal and it wouldn't surprise me if a progressive country, and free thinking nation like Germany would pass laws to allow online gambling soon.

[big fish]

lets hope this moves forward. we need more good news in this industry after the last few months. i'm getting too many gray hairs in my beard these days. i'll take any good news we can get

[michael1981]

lets hope this moves forward. we need more good news in this industry after the last few months.

Totally agree. Any positive news for the gambling industry is much welcomed at the moment

[rak]

lets hope this moves forward. we need more good news in this industry after the last few months. i'm getting too many gray hairs in my beard these days. i'll take any good news we can get

You and me both... I'm not putting the coincidence of settling down to the increase in grey hairs as a factor!

[grem]

Germany has tough laws regarding online gambling or there ways of regulating the internet they way they see it. Maybe it is not good for this industry but they are proactive more so than reactive.