Despite the debt crisis and economic concerns in the European Union, the gambling sector has managed to remain strong over the last few years. The combined annual revenues of land-based casinos, small gaming parlors and online gambling in the EU are estimated to be around 80 million euros, and Germany is the strongest market in this regard.
Although leaders of the European Gaming and Betting Association are pushing for uniform gambling regulations across the EU, a few member nations seem to be more interested in establishing monopolies or licensing systems of their own. One such case is Germany, which plans to issue no more than 20 gambling licenses.
Handing out less than two dozen licenses in one of the strongest EU gambling markets is not very encouraging at a time when EU analysts believe that unified lotteries, casinos, and sports betting systems should be unified. Germany, however, is likely to support a harmonized gaming system in Europe in the near future.
Online Poker Wunderkind Gives Germany Hope
France, Germany, Italy, and Spain are the EU nations that have shown greater acceptance of gambling in society, particularly with regard to online poker. Recent gambling news, however, indicate that these countries are experiencing waning interest in online poker due to their regulatory stance. As a result, many players in these countries are increasingly going offline and entering live poker tournaments.
For the last two year, a young German poker player has been making headlines in Europe. Ole Schemion, winner of the Partouche Poker Tour in 2012, recently won the Sanremo High Roller in Italy. This is the tenth tournament victory for the 21-year old Schemion, who is becoming a source of pride for German card players and may encourage them to sharpen their skills at domestic online poker emporiums.
Why Internet Gambling Regulation is Good for Germany
More than a hundred online casinos and other Internet gaming companies have applied for the few licenses that German government plans to issue in 2014. Industry analysts expect that licensed operators will bring hundreds of thousands of euros in revenues by 2017 as German players become increasingly patriotic and decided to place their bets with domestic casinos and sportsbooks.