German Banks Warned about Processing Online Casino Payments

Germany Online Casino

Government authorities in the country of Germany which as you may know is in the process of regulating the online casino and gambling industry have issued a warning to banks that under no circumstances should they be processing transactions for international online casino and gambling operators.

Germany is in the middle of a revamp of their gambling related industries with the ultimate goal being the full regulation in all German states.

However this (in part due to the State system) is not an easy move and industry experts expect full regulation to be at least 1.5 years away.

In the meantime online casino’s from allover the world continue to attract and advertise for players although MR Green recently halted their sports betting operation citing the new regulations.

Many operators are said to be alarmed by the direction that regulation is taking in Germany with some describing proposed rules as ‘draconian’ in nature. Affiliates also are up in arms being very concerned that a clause prohibiting the use of affiliate links and payment for marketing services based on revenue earned was found in the draft proposal.

Personally we expect it to be business as usual for now and as we have seen in many other countries there is a fine line between regulation and restriction. Rogue operators will always find a way to process payments and operate and we at Online Casino Slots News, while supporting regulation do want it to be reasonable regulation.

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