Germany’s gambling industry is seeing good results from the addition of online slots . Only a few months in, the country received an increase in tax revenue of about 15.5% because of the expanded market. German Minister of Finance Christian Lindner makes a presentation shortly after taking office last year. The ministry provided an update on gambling tax revenue, showing a 15.5% year-on-year increase for the third quarter. (Image: The German Ministry of Finance released the results (in German) of the country’s gambling industry for the third quarter last week. It reported total tax revenue of €596.1 million (US$589 million).
Of the total, the online slot segment provided just under a third at €123.2 million (US$130.62 million). That’s a decent increase from where the country was last year when it was still trying to figure out its online gambling approach. Germany Beginning to See the Light
Germany’s unified gambling treaty has now been in place for a little more than a year, although it took several months to implement. With the third quarter of 2022 coming to a close, the German government is finally beginning to benefit from the expanded gaming options.
In the third quarter of last year, the country earned only around €32.7 million (US$32.31 million) from the online gaming segment. A year later, there still aren’t many options, as most operators are shying away from the 5.3% revenue on their stakes. The segment is also suffering due to the fact that some states, like Thuringia, established gaming monopolies .
Online poker doubled its activity from last year, but it is still only a small piece of the larger market. It was worth €8 million (US$7.9 million) to the government, which collects 5.3% from them, as well.
Germany is giving operators that previously targeted its market a chance to transition to the newly regulated market in hopes of seeing it grow. The plan is receiving mixed results, especially as the government takes a long time to issue new licenses.
Sports betting revenue dropped considerably in the quarter. It lost 47.8%, closing at €53.4 million (US$52.76 million). Several states saw losses, partially […]
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