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Germany passes controversial iGaming tax regulation
A new German state regulation on gambling was approved by the Finance Committee last week. The controversial “GlüNeuRStv” (Glücksspielneuregulierungstaatsvertrag) was put together by the German Bundesrat and so far has received a lot of opposition from online casino stakeholders who argue the bill to be unfair to the iGaming market.
Despite the opposition to the bill from online casino stakeholders, the new regulation received the necessary floor vote to pass.
iGaming operators are particularly not happy about a 5.3% betting tax that is being imposed on their online casino and online poker games. The Finance Committee did stress that this 5.3% tax will also be applicable to unlicensed gaming operators.
Some of the top iGaming operators in Germany have already commented on the bull. For example, LeoVegas claims that the new regulations will significantly hurt their bottom line. As a result of the new regulation, each spin on an online slot game will be limited to €1.
The regulation comes as a big blow to online casino operators in Germany who generally make over 50% of their gross gaming revenues via online slot games. By putting a cap on the spending limit for each spin, online casino operators would lose income. The new regulations are live this coming July 1.
The post Germany passes controversial iGaming tax regulation appeared first on iGaming.
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