German Sports Betting Market Declines Due to Strict Regulation and Black Market
The legal sports betting market in Germany is struggling to keep up with demand due to strict regulation and a thriving black market, resulting in a decline in 2022.
The German Sports Betting Association will discuss the challenges facing legal sports betting providers in Germany due to overly strict regulation and the rampant black market.
The authorized market witnessed a significant decline in 2022, falling to €8.2bn from €9.4bn in 2021, and state revenues from sports betting tax also declined.
The main reason for the market decline is due to the tight German regulation and the unchecked black market.
The black market continues to expand as customers seek the most comprehensive offer, the best odds, uncomplicated payment processes, and interesting bonuses, leading to an increase in active illegal gambling and sports betting offers.
The permitted sports betting providers need as attractive and broad a range of offers as possible to be competitive, and advertising for permitted sports betting is one of the most important factors for successful regulation.