Panel: Germany, loosen restrictions or customers will “easily drop out” to the black market
Gambling Insider was in attendance at the Betting on Sports Europe conference for a discussion on the new proposed regulations in Germany.
The panel, comprised of Dominik Beier, Managing Director, Emotion Group, Nico Jansen, Bet it Best Founder & CEO (through video call), Christian Madlindl, Magic Sports Media COO, and Dr. Wulf Hambach, Hambach & Hambach Co Founder and Lawyer.
With worries that users may move into muddy waters and into the black market due to tight regulations, in such a complex market, what is allowed, what isn't allowed, and who is responsible?
The conversation around Germany, and its restrictive and high taxed gambling market, saw the panel of judges discuss what is needed in terms of compliance, laws and marketing regulation.
“Sports betting is fun and if you spoil the game, customers will have fun somewhere else,” said Dr Wulf Hambach.
“A lengthy activation period can cause customers to easily drop out,” he explains. “If I [a user] am registering at a website that is too complicated, or a website that asks me to verify myself all of the time, then I am not coming back and will choose a different option.
“The return of investment all depends on that activation period, viability and being realistic… and exemptions, of course, give players more freedom to play.
“The customer doesn’t see that the market is black, they just see a colourful offer on the internet, easy to register and if they win, they get their money.”
Jansen explained: “We already see a shift in revenue, in 2019, pre Covid-19, the overall revenue for slots was €6.1bn ($7bn); for 2021 the estimated overall revenue for slots is €3bn, so it has been cut by 50%. We already see a shift and I’m pretty sure this revenue is down to the black market.”
sOURCE : www.gamblinginsider.com