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GlüNeuRStv Was Ratified by German Federal Prime Ministers

4 November 2020, 16:34
Votes: 1

According to the latest legislation news in gambling, the new regulation treaty called GlüNeuRStv (abbreviation to Glücksspielneuregulierungstaatsvertrag) was adopted by the federal states' prime ministers of Germany. That is a crucial step towards the adoption of the new gambling law in the country that should be fully activated on July 1, 2021. Authorities called for the fast adoption of GlüNeuRStv in the German parliament and the creation of the official regulatory body.

GlüNeuRStv Was Ratified by German Federal Prime Ministers

Germany is now in the active phase of adopting the new gambling law. Even though the country is the heart of the EU, it hasn't had a clear regulation in the gaming sphere. There are some legal ways to satisfy the punters' needs, but both mortar-and-brick casinos and online gaming sector now will be adjusted. As the new law will be officially introduced on July 1 the following year, online gambling venues received a transitional period and conditions that should be met.

The GlüNeuRStv should bring clearness in the gambling industry, and almost all the sides are interested in its adoption. Germany has currently permitted the functioning of betting platforms and has even given more than ten licenses for international operators.

The online casinos have also received clear conditions for the transitional period. Thus, no more than 1 thousand euros can be deposited into one account; the five-second pause must be obligatory for casino slots while the maximum spin cost must be less than €1.

What will be the further steps in adopting the new regulation in Germany?

The next step in making GlüNeuRStv fully legit is to adopt new gaming laws by the state's parliament. At the same time, authorities insist on creating the regulatory body as soon as possible. It should bring more clearness in the process as still, the new regulation is more a draft than a ready document. However, the current pace and attitude to the adoption procedure inspire optimism that the new law will be organized meticulously as always in German.

Read moreWhat are the specifics of recent online casinos in Germany?

Read moreHow does the gambling legislation differ across the EU countries?

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