SBC News Racebets.com gains first German horse betting licence

Racebets.com gains first German horse betting licence

racebetsGerman racing operator RaceBets.com has announced that it is the first firm to gain a horse betting licence by the German regulatory authority. The current horse betting laws were introduced in July 2012 and RaceBets are the first German bookmaker to fully comply with the new regulations.

Patrick Byrne, RaceBets’ Managing Director, commented on the licensing  “We are delighted and exceptionally proud to be the first German bookmaker to receive the licence. The decision vindicates all the effort and hard work that has been carried out by the whole team, over the last few years, to achieve this milestone.”

RaceBets now has four European betting licences. In 2009, the company received a Maltese betting licence to accept bets from both German and international customers. RaceBets then received national licences from the UK Gambling commission in November 2014 and from the Irish regulatory body in September 2015.

RaceBets was awarded one of the twenty German sports betting licences that were issued in September 2014. However concerns remain regarding the issuing of sports betting licenses for the German Market. Last week the ECJ issued a warning that its review of the Hesse Ministry of Interior and Sports regulatory framework had been delayed.

EU and industry insiders believe that no official ECJ decision/stance on the matter has been agreed, which will likely lead to further delays and see no progress on the matter during 2015

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