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First Horse Betting License In Germany Given To Racebets.com

German regulatory authority has given the first horse betting license in the country to racing operator Racebets.com. After new laws were introduced for horse betting during July 2012, Racebets was the first bookmaker to make its operations fully compatible to latest regulations and was granted a license within a few months of application. While making a public announcement about this achievement, Racebet.com’s Managing Director Patric Byrne expressed pride on this achievement and attributed the success to efforts of the firm’s team.

Racebets.com

About Racebet.com

With the German betting license, the firm now owns betting licenses in four nations across Europe. It received the first one in 2009 when Maltese government allowed it to accept bets for local games from customers of German and international origin. During November 2014, Raceets.com earned national betting license from UK gambling Commission and in September 2015 it was granted license by Regulatory body of Ireland. Though Racebets.com is one among twenty other sports betting licenses that were granted in September 2014 none of the operators are able to start operations due to regulatory concerns. Again this week there was an announcement that review of regulatory framework for betting industry has been delayed.

Horse Betting in EU under doubt

Though the licenses for beginning horse racing operations have already been granted, there is still an ambiguity about online gaming laws in Germany. While the State Treaty on Gaming allows offshore private operators to offer their services to German citizens the Berlin Administrative Court has questioned the lawfulness of this Treaty formulated by EU. According to industry insiders unless there is a strong stance by German Regulatory authority to make changes in the laws as per regulations of EU with respect to transparency and open competition the present stalemate is likely to continue and may not be cleared even by 2015.

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