German newspaper Süddeutsche Zeitung says the new gambling law will impose an 8% turnover tax on online slots and 5.3% for poker. Login Casino regularly follows the latest financial news in gambling and explains what those rates mean to business representatives.
The upcoming legalization of gambling in Germany launched wide discussions around financial issues like taxes and related fees. Even though the working group didn't provide any official information, the German outlet Süddeutsche Zeitung presented quite unexpected numbers.
According to the newspaper, 8% tax will be taken from every online spin. For the online poker activity, it will be quite lower - on a 5.3% level. While the official representatives didn't confirm the draft numbers, they also didn't refute them.
What does it mean in practice?
Business representatives are shocked with the financial requirements towards online gambling. Those pretty high taxes are also facilitated by the limitation of the maximum bet of €1 per spin and €1000 monthly restriction. According to the president of the German Online Casino Association, Dirk Quermann, all those numbers will force punters to find other ways of gambling, including illegal ones. It can transform the legalization process into the ineffective one as it was aimed at bringing more finances to the budget and strict gambling limits, which now can be bypassed.
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