Modification of State Treaty on Gambling creates legal certainty for mybet
Yesterday, the 2nd Modified State Treaty on Gambling was signed. The treaty now includes amongst others a transitional arrangement for providers of sports betting, who already applied for a licence in Germany in the year 2012. The new regulation shall become effective in 2018. By this arrangement the Personal Exchange International, a group company of mybet Holding SE, will then own an official preliminary permission for the offering and sale of sports betting in Germany.
mybet welcomes the efforts to regulate the German market in total. As a member of the German Sports Betting Association (DSWV) the company supports the offer by the association to start a dialogue with politicians to develop a mutually satisfactory sustainable solution.
“The preliminary permission has the same effect as a licence. On time with putting our new product platform fully into operation on 21 March we now have legal certainty for our sports betting offer in the German market for the time being”, says Markus Peuler, CEO of mybet Holding SE.
Potential competitive advantage
The new treaty awards permissions to 35 sports betting providers. But a significantly higher number of companies is active in the German market. Not only for online players the question arises whether to use a provider with or without permission in the future. Also for owners of land-based betting shops, who in addition underlie specific regulations in the different federal states, the current change could become an important factor. As the mybet Group already puts high effort into supporting its betting shop partners within its franchise system in regulatory issues, the permission supports these efforts.
“We intentionally try to act exemplary also in the field of regulation and to contribute to a trustworthy behaviour in the industry. With a state permission in hand the mybet brand gains additional attractiveness. So hopefully, online players and shop owners now have another reason to take a good look at our offering”, explains Peuler.