Betfair leaves the German market

Betfair Betting exchange has recently had problems at the German sports betting market, which influenced its decision to leave this market.

For months, the numerous bookmakers have been carefully watching the changes in the German legislation. Unfortunately the newly adopted law on gambling turned out to be too tough for many operators of online gambling. The new tax rate has become a heavy burden for the bookmakers, including the well-known betting exchange Betfair, which has decided to leave the market than to sue the German authorities.

At the moment, the dispute between the government and the betting exchange Betfair is going on. The British company insists that it should be exempt from the additional 5% tax because it is not a bookmaker, but only an intermediary in the purchase of bets. In case of loss the betting exchange Betfair will have to pay £25 million additional tax to the state budget. The operator continues to offer poker and casino services to the residents of Germany.