Online Gambling Takes Big Hit in Germany

April 14, 2009

Online gambling has been getting some serious damage dealt to it based on the new laws that have been passed in Germany. Under the new online gambling policies that have been passed under the German Interstate Gambling Treaty, online gambling has taken a large hit financially. They have seen a lot of jobs leave the country in addition to the loss in revenue.

The largest casualty comes from the online gambling firm Tipp24 AG. The online gambling company handles German Internet Lotto and has found themselves unable to stay in the country. Because of the laws the firm has had to transfer out of the company, causing the company to lose 139 jobs of the 154 that they had employed there.

As soon as the second stage of their online gambling treaty came into effect, they had to reduce the amount of business that they were offering, and get rid of their brokerage business that they were running. The new online gambling legislation made activities that were previously legal, now illegal, thus limiting what they were able to continue doing. They have now moved their online gambling offerings to London instead of Germany, thus moving those jobs to England as well.

The online gambling company will keep just 15 jobs at this site now, and eliminating those other positions. With the law making their lottery illegal, they had no other choice. They said that they felt that the online gambling laws were wrong, and that an established company such as themselves should not have to bear the burden of them � as well as their employees. They say that there were a lot of people who were not happy with the new online gambling laws, and this is exactly why.

 

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