Newly Licensed GVC to Roll Out Four Brands in New Germany MarketPublished October 22, 2020 by Lee R
A historic moment in regulation is upon us, and GVC looks to lead the way in Germany.
The historic GVC adaptation to the German market is entering its implementation stage with the inclusion of four brands.
Four Licensed Brands
As a newly awarded licensee, GVC Holdings announced that four of its biggest brands have been licensed to enter the new German sports betting market.
The London-listed firm specified Ladbrokes, SportingBet, Bwin and Gamebookers as the licensed brands whose roll-outs will be respectively established according in accordance German authority Tolerance Policy directives contained within the nation’s New State Treaty on Gambling.
Limits GVC Commits To
Key new adaptation features established by the German authority include mandatory maximums of €1,000 ($1,180) monthly wagering limits for online punters with the possibility of raising those limits to as high as €10,000 ($11,805) for meeting certain criteria.
GVC further revealed that the four brands will adhere to strict deposit limits until completion of customer verification processes and then limit further individual bonuses to an annual maximum of €100 ($118).
GVC is committing to close adherence to Tolerance Policy directives holding sports betting licensees to instructions to “certain responsibility requirements” for their customers allowing for up to 1% clients to wager up to €30,000 ($35,400) per year “subject to enhanced due diligence and certain loss limits.”
GVC Leader Speaks
GVC Holdings CEO Shay Segev asserts that his firm is targeting fulfillment of the compliance to Tolerance Policy goals by “the early part of 2021.”
The compliance will be reflected in such data as earnings before interest; tax; and depreciation and amortization falling on an annual basis by up to £40 million ($52.2 million).
“The award of these licenses is great news for GVC Holdings, bringing the clarity and certainty that we have long sought for sports betting in Germany...Combined with(in) the recent Tolerance Policy.”
Maintaining Leadership Position
Segev says his organisation is “confident” in compliance and in its future within Germany, and GVC will be able to build on its leading market position “by delivering an unparalleled and innovative experience for our German customers.”
With a name as big as GVC setting the standard for compliance, adaptation and implementation in the German market, look for others to follow the lead more quickly to launch rapid market growth in Germany.