Thu. Jul 11th, 2024

Löwen Entertainment Criticizes New Treaty

Avatar photo By admin Jun26,2024

Novomatics subsidiary, Löwen Entertainment, has accused German political figures of showing disrespect towards gamblers and gambling companies in advance of the new State Gambling Agreement coming into force on July 1st.

Löwen Entertainment Criticizes New Treaty
The gambling provider’s managing director, Daniel Hentsgen, stated that the new agreement would result in “completely unreasonable … pointless regulatory separation requirements for arcades,” jeopardizing 8,000 positions in Baden-Württemberg alone.

He condemned the new restrictions on arcades while online gambling is being legalized nationwide, highlighting that “even the state lottery monopoly intends to offer online slots.”

He further stated: “The most significant threat to unity and public trust is the ideology being marketed in the name of science.

“For years, we have been aware of this phenomenon of disdain for gamblers and gambling providers, masked as pseudo-evidence, in regulatory discussions … millions of individuals gamble. Consistently. Attempting to combat this phenomenon with prohibitions and marginalizing legal, high-quality supply will only bolster the black market and illegal, uncontrolled gambling.”

German provinces reached a consensus in January 2020 on a fresh gambling regulatory structure.

The revised gambling rules will preserve the monopoly of the German state lottery sector, while lifting the prohibition on online slots and poker, and permitting sports betting authorized under existing state regulations to continue.

However, some have voiced worries about limitations on live betting, promotion, and player account activity. Slot machine wagers will be capped at €1 per spin, and the industry is displeased with the federal parliament’s 5.3% turnover tax on the new regulatory vertical.

Meanwhile, law firm AdvoFin claims it is managing 150 cases, totaling €10 million, related to losses incurred by individuals in Germany due to gambling over the past three years.

AdvoFin handles these cases on a no-win, no-fee basis and will recoup 37% of any financial losses.

Stefan Bohar, a member of the AdvoFin board, stated: “Users of previously unlawful services can reclaim gambling losses for at least the past three years. The new gambling state regulations do not alter this.

“Providers who have not obtained a German license under the new rules remain illegal. Consequently, the complete legalization of online gambling in Germany is beyond question.”

Sign up for the iGaming newsletter.

Avatar photo

By admin

This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *