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Betfair Group plc
7 November 2012
UPDATE ON GERMANY
As previously indicated, in July 2012 Germany introduced a law that applies a 5% tax on stakes on sports betting in the country. A tax at this rate, if applicable, would make Betfair's current exchange model unviable. Following detailed opinions provided by its legal and tax advisors, Betfair believes that, in regard to bets placed on its exchange, it is not an organiser of sports betting under the tax law and is not, therefore, liable for the tax.
Betfair has been working with the relevant tax authorities to seek clarification on interpretation of the law and its applicability to exchanges. The company is disappointed, however, that to date the tax authorities have not been able to agree to an interpretation of the law that would allow Betfair to continue to offer the exchange product. Consequently, Betfair has decided to withdraw its exchange product from the German market.
Following this decision, on-going contribution from Germany is expected to be de minimis and Betfair is reviewing its operations in this market. In FY12, approximately 4% of Core Betfair revenue came from Germany and this revenue delivered a contribution of approximately £6 million before the allocation of central costs.
The company believes that it has fulfilled all of its obligations under German law, including the filing of necessary tax returns. Discussions are continuing with tax authorities regarding the potential tax liability, if any, arising from bets placed on its exchange since the law came into effect.
7 November 2012
UPDATE ON GERMANY
As previously indicated, in July 2012 Germany introduced a law that applies a 5% tax on stakes on sports betting in the country. A tax at this rate, if applicable, would make Betfair's current exchange model unviable. Following detailed opinions provided by its legal and tax advisors, Betfair believes that, in regard to bets placed on its exchange, it is not an organiser of sports betting under the tax law and is not, therefore, liable for the tax.
Betfair has been working with the relevant tax authorities to seek clarification on interpretation of the law and its applicability to exchanges. The company is disappointed, however, that to date the tax authorities have not been able to agree to an interpretation of the law that would allow Betfair to continue to offer the exchange product. Consequently, Betfair has decided to withdraw its exchange product from the German market.
Following this decision, on-going contribution from Germany is expected to be de minimis and Betfair is reviewing its operations in this market. In FY12, approximately 4% of Core Betfair revenue came from Germany and this revenue delivered a contribution of approximately £6 million before the allocation of central costs.
The company believes that it has fulfilled all of its obligations under German law, including the filing of necessary tax returns. Discussions are continuing with tax authorities regarding the potential tax liability, if any, arising from bets placed on its exchange since the law came into effect.
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Replies: 112
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at this rate, betfair will only be able to take bets from english punters in the near future
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another hit to liquidity, as teo says Euro market reducing almost monthly.
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soon to be **** liquidity @betfair :)
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I guess it's time to move on to another Betting Exchange then. But I might use this forum anyways.
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this is thread theft, posted on GB already.
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OMG THREADTHEFT, SOMEBODY CALL THE CARE-POLICE
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sohf
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F U C K you Betfair and F U C K you german politicians!!!!
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I'm off!
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What are we going to do without you and Schalke 04, xGURKx? How are you going to bet?
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Don't know, maybe stop that crap as I hate betting with bookies... and wait and see if the exchange will be available in the future again.
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I did not clearly understand - germans cannot bet in Betfair or we all cannot bet on german markets?
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Germans can't use betfair
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i need a adress in UK......someone know where i can get a postbox? :D
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Germans cannot use the exchange anymore, only fixed odds betting allowed, and the odds in these markets are often even worse than on bwin!
 You should be able bet on german markets in the future, questin is: how much liquidity will there be? yeah me too, cheap po box or sth. like that! |
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So sorry for you guys
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How betfair will restrict: by credit card addres or IP addres?
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i think your adress....otherwise it will be no problem
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I don't know, will wait and see...
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prele_ 07 Nov 12 10:54
I guess it's time to move on to another Betting Exchange then. But I might use this forum anyways. do you honestly think that the law will apply to only betfair? , the law will apply to any exchange wanting to do business with germany |
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There are ways round it, i can think of at least 3 forumites on here who live in Spain and betfair is banned there too (i think)
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You can't get a P.O. box if you don't live in the UK.
You need to be searching for a "mailing address" and away from London to keep the cost down. A friend would be an even better solution. |
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When I was in USA 10 years ago where betting is forbiden I bet in GLOBET with my Bulgarian debit card, so IP addres does not mean anything
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lol^^^
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I am not a computer geek but cant you bet via some proxy server?
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I go to France a fair bit and can't even log in to this site when I'm there.
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you don't know who you're giving very sensitive information to using a proxy server.
A VPN is the safer option (The server has to be in the UK). |
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p.s. I dont know what a proxy server is either!
in reply to another poster can we start getting debit cards from other countries? Would that help too? |
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Ill give you a debit card only for 5% of your withdrawn
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Right hippie,
My mate in computers mentioned something similar. I wouldn't know my vpn / proxy server from my elbow As a matter of interest how is that set up /cost? I am interested in doing that when I am in USA although I do remember being able to access Betfair from mobile but not pc in USA. |
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A proxy server is basically getting information from A to B via C and for all you know C is a scammer in China that you are handing passwords, bank details etc to.
A VPN is a secure link that "tunnels" you to a server. You need the server to be in the UK to avoid the block. You're better off doing your own research to find a suitable VPN and to get comfortable with what it all means. |
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Thanks hippie,
I get the gist of it. I now know what to ask for. I will email my geek for advice. As a point of interest now I will also seek to find out if it is illegal to bet via betfair using a vpn whilst in the USA! Could I be sent to Guantanamo for doing so? |
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I still don't get what the hell a BRITISH company has to care about non EU-conform gambling and tax laws in Germany?
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I think it could be illegal but you would have a strong case of your humans rights being violated if they waterboarded you for having a tenner on Hertha Berlin to beat FSV Frankfurt.
Alternatively, Colarado and Washington legalised the recreational use of marijuana in ballots last night. |
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Friday Bundesliga 2: SV Sandhausen - Hertha BSC Berlin:
Odds @ Betfair: Sandhausen 5.0, Draw 3.4, Hertha 1.6 Odds @ bwin: Sandhausen 4.8, Draw 3.5, Hertha 1.7 ???? Is this a joke ???? |
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Fixed odds
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