Times are changing and while the online casino industry continues to grow and evolve there are many interesting developments.
Germany is one of the more recent countries to open their virtual doors to legalised and regulated online gambling.
Currently, country officials are working on new gambling regulations and there are many restrictions that have already been put into effect.
One of the biggest focus points has been a lockdown on all illegal online gambling operations. The government authorities have warned all German banks that they are not allowed to process payments for international online gambling operators.
A continuous war
During the current pandemic, more players are seeking entertainment online. With new legislation drafted, online casino gambling is currently not legal in the country.
As part of the country’s plan to legalise and regulate the online gambling market, a ban has been placed on all illegal gambling activity. At the start of 2020, government officials sent out reminders that processing payments from international online gambling operators are prohibited.
Multiple warnings have been sent out to payment processors and the government officials have warned about serious repercussions for those ignoring these restrictions and rules. The current prohibition applies directly to all payment processors and banks and obliges all payment service providers to take the appropriate and independent measures.
As such, Visa has asked all operators not carrying a legal license in Germany to disable it from their deposit and withdrawal options available to players. With the country’s shutdown on illegal gambling operations and the hunt for payment processors assisting these illegal operators, the company is choosing to step away.
Players will find many online casinos are no longer processing payments via Visa or Mastercard. Online casinos accepting German players will either have very little and restrictive payment options available or will only provide free play options.
Card payments and online gambling in Germany
The road to legal online gambling in Germany is still over a year away with most online casino activities being banned in the country. At this point in time, casino players are only allowed to legally partake in sports betting online.
German banks and all other payment processors including Visa & Mastercard have been forced to tighten their oversight of online casino payment processing. It is a pre-requisite to stop any and all payments to illegal gambling sites.
With the recent pandemic putting a stop to all major sports events there is currently not much to bet on in legal sports betting casinos. German bettors are getting restless and looking for alternative sources of gambling entertainment.
With the strict rules and regulations in place and government officials keeping a close watch, even transactions via Visa & Mastercard has come to an abrupt halt.
According to the Ministry, there are further prohibition orders in preparation against operators not adhering to the new restrictions and warnings.
During the current pandemic, online casino players are going cold turkey with the lack of online casino entertainment. Those who still attempt to play at illegally operated casinos run the risk of losing any and all deposited funds.