Tag: law

Betfair forced to exit Germany

In another blow for international expansion Betfair has been forced to exit Germany.

In July Germany applied a turnover tax of 5% on stakes which Betfair believed wasn’t applicable to it. Betfair confirmed that discussions are continuing with tax authorities regarding the potential tax liability, if any, arising from bets placed on its exchange since the law came into effect.

Betfair is now reviewing its operations in this market. In FY12, approximately 4% of Core Betfair revenue came from Germany …

07/11/2012 | By Peter Webb More

Germany set to backtrack on Gambling laws

Recently the Germany state of Schleswig-Holstein, to much fanfare, announced the licensing of three operators in it’s territory, myBet, Betfair and Nordwest Lotto. Three weeks later, operators Bwin, Bet365, BetAtHome and Tipico were also approved with their gaming licenses.

However the state recently announced a shock decision to return to German’s Interstate Gambling Treaty. Ralf Stegner had the following to say according to EGR:

“We are beginning to clear the minefield in the German gambling legislation left by our predecessors …

30/07/2012 | By Peter Webb More

Betfair exits South Africa

With regulatory tangles ongoing in many territories Betfair has hit another bump in South Africa. This is a real shame as South Africa is on the same time zone as the UK. Betfair has already sent out emails to affected customers. Here is an extract of the key elements of the email: –

“We’re writing to inform you that following the recent ruling by the South African Supreme Court of Appeal, Betfair has decided that as of 00:01 GMT on …

19/01/2012 | By Peter Webb More