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Gambling Boom in Germany

Germany

In the last couple of months the German gambling market starts showing impressive signs of growth.

The gambling industry developed greatly all over the world in the past years, leaving Germany always a bit behind. But, after the liberalization of sports betting and the Soccer World Cup in 2006 in mind, the German gambling industry did start to catch up. Another main reason put forward for the growth is the poor German economy, that apparently motivates people to try to earn some extra euros by gambling.

The reason for the rapid worldly growth is mainly the popularity of online slot machine games. Being able to participate in online casinos while sitting in your pyjamas in your lazy chair has made online gambling very attractive to many people. In 2004 gamers from the whole world spent 300 billion dollars on online games.

One of the true believers of the growth of the gambling sector is the big German pay-TV channel Premiere. Showing its trust in the industry the channel started a new television channel last august, called Premiere Win. This channel will be used solely for broadcasting sports for gambling. Until now Premier Win shown only gambling in the form of betting on horse racing, but they are planning to expand rapidly with betting broadcastings of many other sports like soccer, baseball, basketball, football, Formula 1 racing and many more. Especially the upcoming event of the Soccer World Cup, which is exclusively being broadcasted by Premier, makes the new channel and the betting system a logical move.

The system of Premier Win works as follows; the viewers who are watching the program log in on the website of BetandWin, the partner and bookmaker of Premier, and place their bets online.
At the moment there are 6 companies in Germany holding a license for sports betting, monopolized by the company Oddset. The monopoly position of Oddset is currently being challenged in court making it well possible that the betting market will be wide open next year. An open betting market means more possibilities for the gambling industry, making it very likely that the German market will grow even further. It is expected that the German gambling market will go into the direction of the fast growing UK market.


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