Germany Bans Credit Card Transactions From Online Casinos
17 Aug, 2020, 14:12 BST
CasinoTopsOnline has news on where German casino enthusiasts can still let the good times roll
FRANKFURT, Germany, Aug. 17, 2020 /PRNewswire/ -- The international iGaming industry is eagerly awaiting Germany to fully regulate their online casino market and thus ensure that playing in an online casino is fully legalized in the country. But until then, there is still a good number of reliable and internationally licensed casinos targeting the German online player. While some have already pulled out of the market, others have found ways around the Visa and Mastercard ban imposed by the German government. CasinoTopsOnline, a proven guide for online casino players, provides up-to-date advice on available casino payment methods.
Until the expected gaming law comes into force in July 2021, online casinos operating in Germany will remain in a kind of grey market. The state claims to try to prevent gambling, although the federal state of Schleswig-Holstein has officially licensed online casinos. European online gambling licenses are also available - under strict conditions by the MGA in Malta.
In this stalemate, the authorities are trying to clamp down on well-known payment service providers like Visa and Mastercard. These have been threatened with a ban. Earlier on, in the past year, popular payment service providers PayPal, was forced to withdraw completely from the German casino market yet retaining some business in sport betting. In the summer of 2020, the law of the public provider was changed, which prompted some online casinos to withdrawn completely from the German market or that they at least henceforward prevent payment transactions with Visa and Mastercard for German players.
Companies like Klarna handle secure online casino payments, also from Germany. They are waiting for the new regulations to come into force and expect the online gambling market to continue to be tolerated in Germany until that day. A spokesman for the payment service provider Klarna has said that he expects a temporary tolerance of gambling activities in the German jurisdiction. However, some federal states like Brandenburg, Bremen, Hamburg, Baden-Württemberg and the Saarland already rejected that idea.
Which new payment methods are available for German online casinos?
So, what will be left for casino enthusiasts? Luckily, passionate casino players in Germany do not need to rely on PayPal and credit cards. New payment providers, such as OnlineÜberweisen, have entered the market and offer safe payment solutions in addition to eWallets like Neteller, Skrill, ecoCard or even deposits made with a choice of crypto currencies.
Another reason why payment service providers like PayPal and Visa have so willingly abandoned the German online casino market, are the number of civil lawsuits. Smart lawyers advise clients of the grey area rights and let them sue for reimbursement of lost deposits. Since online casinos outside of Schleswig Holstein operate without a German license, these plaintiff's lawyers insist on reimbursement of all gambled stakes. This process is rarely crowned by success.
CONTACT:
John Smith
john.smith@casinotopsonline.com
This information was brought to you by Cision http://news.cision.com
Related Links
SOURCE Cision AB