For people who are talented at it, online gambling in online casinos offers an extremely amusing activity. However, as with everything in life, there are both positive and negative aspects associated with being a real money gambler. We are not saying that the bad outweighs the good, nor conversely that the good outweighs the bad. However, we are saying that there is always a risk factor. This risk can be an exciting experience, but it can also be the worst of your nightmares.
An old and important industry Initially banned by the royal state and long hidden from view, gambling became. In Germany, gambling was legalized at the end of the 18th century with the introduction of the Royal Lottery. Casinos were founded in the 19th century (decree of 1806), and in the 20th century the PMU (Pari mutuel Urbain, 1931) and the National Lottery (1933) were established. These three providers of games of chance still hold the largest share of the gambling market in Germany.
PMU has a monopoly when it comes to the marketing of horse racing bets (outside the racecourses) via its network of sales outlets throughout the country. FDJ also benefits from a similar situation in the marketing of draw/rub games and sports betting at the point of sale.
The agreed exploitation period of the exclusive rights is 25 years and, following the transfer of the majority of FDJ’s capital to the private sector to date, 72% is owned by the state (“Pacte” law). Casinos expand this physical offering by marketing table games and slot machines. This physical gambling offer is complemented by an online offer, whereby Germany has introduced a new licensing system for private operators in a limited gambling sector since 2010: sports betting, hi-betting.
Online gambling
Regulated online gambling comprises the following areas: Lotteries (draw/scratch), sports betting, betting on horse racing and circle games (such as poker). The law of 12 May 2010 allowed new providers to enter a previously monopolized sector, while the commercial offer of FDJ and PMU made it possible to place sports and horse racing bets online. Germany has seen new providers enter the market with a controlled opening to competition in the areas of sports betting, horse racing and circle games. At the end of 2019, there were 13 operators sharing 26 licenses, with internet lottery games remaining under the exclusive rights of the FDJ.
Financial impact of gambling The gambling industry generates tens of thousands of direct and indirect jobs and generated a turnover of 10.4 billion euros in 2017. Gambling expenditure has increased continuously and now accounts for almost 11% of expenditure on leisure and culture (compared to 8.9% in 2008). Net expenditure per adult resident currently amounts to just under 200 euros (compared to 169 euros in 2008).
In Germany, gambling (excluding casinos) is taxed on the basis of bets, with each activity subject to certain duties. In 2018, over 5.6 billion euros in taxes were reported to the state by this industry. As part of the reform of the Pact Act, gambling taxation will be partially revised: for online sports betting, the tax base for levies, which was initially based on the betting volume, will be transferred to the gross gambling product of the players. This will take place on January 1, 2020.
Current development of online gambling In recent years, online gambling has exploded (slot machines, bingo, lottery, casino, etc.). Why such a craze? What are the positive and negative aspects of such gambling? Online gambling is developing every year and is increasingly becoming the most lucrative industry. To date, there are millions of players in this new market, which now coincides with real casinos.
The main reason for this enthusiasm is the reality that everything is now accessible from the comfort of your sofa, whether you are a beginner or an expert. Pros and cons of real money online casino games. Our team of experts has compiled the pros and cons of real money gambling for you.
Advantages and disadvantages of online gambling
Whether via applications to download to your computer/smartphone or from websites, online games are ubiquitous in our society.
First and foremost, this can be explained from a convenience perspective. Whether you are relaxing on your sofa, on public transport or at work: As long as you are connected to the Internet, you can play. Online games are actually available around the clock, every day of the week. No more fear of closed bars. This is one of the most significant benefits for gamers.
Forget the tickets you have to keep in your wallet – everything is now automatically organized online.
An added benefit and especially the learning side. Real casinos are often actually too intimidating for beginners. The opposite is true, online there is a wealth of tips and tutorials. Also, due to the huge number of players, you have the opportunity to play with people of your level.
Disadvantages: Who says online games have to cause an addiction to the internet? In addition, connection problems and errors are often very common, which means you have to restart your games.
Human contact has changed: You’re behind your screen, communicating either virtually or not at all. The warm side no longer exists.
Cash no longer matters, everything happens virtually. Be careful with the bills at the end of the month, because the understanding of money has changed.
