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Betfair leaves the German market

Not a good sign for Betfair - the biggest economy in Europe with a growing desire for sports betting, and they pack up stumps.

Betfair leaves German market

Betfair has withdrawn its betting exchange from Germany after hitting another stumbling block.

New tax laws on sports betting in Germany proposed in the summer threatened to make the exchange business model unviable.

Betfair claimed the betting exchange was not liable for the 5% tax. And it had been working with the German authorities to resolve the matter. But this has been unsuccessful.




So let's see the world's ten biggest nations by population:

China - no chance
India - not anytime soon. Regional political system, the odd 'rebel' state might try it, but unless it includes a big, wealthy city, the value is minimal
United States - Obama being re-elected might help (won't care so much about being re-elected now, more chance of trying controversial bills), but it's still a land of 50 states with their own laws, and the sports bodies - Horsemen's Groups and the major sports hold way too much power. Still can't see exchange betting going ahead any time soon, even in California and New Jersey where the state government has passed it, subject to approval of the sports stakeholders.
Indonesia - the big Asian bookmakers are already on board
Brazil - still a legal mess, sportsbetting culture has to be developed by a fixed-odds competitor first
Pakistan - Islamic country, will never be legal there.
Nigeria - Political/religious mess, nope
Bangladesh - Nation too poor, nope
Russia - several big clients, but too many criminal/legal concerns to go mainstream
Japan - blocked (due to the Softbank ownership - I assume they haven't cashed in yet?)

Can't see the share price rising significantly anytime soon!

Comments

  1. Bad news for Germans. Do you know, which countries blocked Betfair?

    ReplyDelete
  2. I ask about each country in Europe. I'd like to know map of Betfair in Europe, because I want to travel. I'm from Russia, and we don't have any problem with Betfair and other exchanges and bookies. We have total freedom in internet, thanks to Putin.
    Also, do you know something about Tailand?

    ReplyDelete
  3. hi Trade Shark,

    Countries I know which are definitely blocked, either by local govt or Betfair choosing to stay out for legal/political reasons:
    USA
    China
    Japan
    Thailand
    France
    South Africa
    Italy (exchange)
    Germany (exchange)

    Others might be listed on the Betfair Forum under Announcements, I refuse to look in there anymore....

    ReplyDelete
    Replies
    1. Thanks, Scott.
      Italy and Germany again together. :))
      It's sad that France, USA and Thailand blocked BF.
      I know also about Turkey, they blocked BF too.

      Delete
  4. Add Finland to that list. Betfair have told me that it will still be possible to connect to Betfair from Germany though, as long as your registered address is outside Germany.

    ReplyDelete
  5. Add Belgium to the list (as of May 2012 apparently).

    ReplyDelete

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