Home / Poker News September 2011 / The Poker Grapevine – German State Legalizes Online Poker
The Poker Grapevine – German State Legalizes Online Poker
Posted by: James Carter. - Sat, 2011-09-17 10:31
Legal online poker has taken a step forward the other day as the German Land of Schleswig-Holstein has just legalized the game, together with betting exchange, sportbooks, and casino games with the exception of roulette, blackjack and baccarat. The move is a first, not only within Germany, of the other 15 states of which none has yet passed such legislation, but world-over as well. The new legislation licenses and regulates all the above listed activities, and it will only go into effect on January 1, 2012. A 20% tax on the gross revenue resulting from the above activities will be imposed.
Betfair was the first online gambling entity to hail the development: in a statement released shortly after the passing of the law, the company welcomed the legal move and expressed its intention to apply for a Schleswig-Holstein license as soon as the law goes into effect.
The company also expressed hope that the remaining 15 German states would follow suit, thus bringing their State Treaties into line with EU law. Betfair are eager to operate in a safe and reliable environment, where innovation thrives, and they’re prepared and willing to pay taxes for the privilege.
In the wake of the news, the Bwin.Party stocks saw a 12% jump. The company is said to generate around 22% of its revenue in Germany.
In other news: former FBI director Louis Freeh has joined FairPlayUSA’s advisory board. Freeh said that his decision to join the board came as a consequence of the fact that US Federal Law failed to provide proper legal framework for online gambling and poker, allowing a wild-west kind of climate to proliferate, all at the expense of the American public.
Freeh has joined former
WSOP Main Event Champion Greg Raymer, Mike Sexton and Perry Aftab, an expert on internet security. Former Homeland Security Secretary Tom Ridge is also a member of the advisory board.
The goal of the organization is to educate lawmakers as well as the public about online poker.
