German regulator, GGL, shares quarterly revenue for first time
The German gambling regulator, Gemeinsame Glücksspielbehörde der Länder (GGL), has issued quarterly figures on gaming and betting stakes for the first time ever.
August has been marked as beginning the process of sharing quarterly publications, with permitted providers giving the figures to the regulator.
The aim in doing so is to ensure more transparency in the legal gambling market and to regularly inform the public and policymakers about market development.
For Q1, the total gambling stakes were €3.51 billion, with €2.18 billion falling under the sports betting category. €1.59 billion is classed under online betting, with €585 million in retail sportsbooks. Then, up to €25 million was attributed to horseracing betting.
GGL data shows that Q2 gambling revenue dropped by 8.3%While these figures are high, the second quarter saw an 8.3% drop compared to the first, as total gambling and betting revenue came to €3.22 billion.
In Q2, sports betting amounted to €1.89 billion, which represents a 13.5% decline based on the previous quarter. Horseracing, however, saw a major 28% increase as it rose to €32 million in the second quarter.
This is the first time the GGL has published the quarterly data, with more to come going forward.
This latest decision comes after there was a change of chairmanship on the Board of Directors of the GGL in July. Sandro Kirchner, State Secretary in the Bavarian State Ministry of the Interior, Sport and Integration, took over the chairmanship and succeeded Reiner Moser, Head of the Office in the Ministry of the Interior, for Digitization and Municipalities for Baden-Württemberg.
When State Secretary Kirchner was announced to be taking over the role, the GGL was described to be in a phase of pursuing ambitious goals and stronger international networking, while aiming to further contain the illegal gambling market.
“The consistent pursuit of illegal offers and player protection are my highest priority. The work of the GGL must continue to be significantly aligned with the goal that the business model of illegal gambling in Germany must not be worthwhile,” Sandro Kirchner is quoted as saying.
Featured Image: AI-generated via Ideogram
The post German regulator, GGL, shares quarterly revenue for first time appeared first on ReadWrite.