RaceBets.com have been granted a German horse betting licence by the German regulatory authority. The current horse betting laws were introduced in July 2012 and RaceBets are the first bookmaker to fully comply with the new regulations.
Patrick Byrne, RaceBets’ Managing Director, responded to the news by saying “We are delighted and exceptionally proud to be the first bookmaker to receive a German horse betting licence.
The decision vindicates all the effort and hard work that has been carried out by the whole team, over the last few years, to achieve this milestone.”
RaceBets now has four European betting licences. In 2009, the company received a Maltese betting licence to accept bets from both German and international customers. RaceBets then received national licences from the UK Gambling commission in November 2014 and from the Irish regulatory body in September 2015.
Moreover, RaceBets was awarded one of the twenty German sports betting licences that were issued in September 2014. However, due to legal disputes with failed sports licence bidders, the issuances of these licences have been delayed.
“Our customers will not notice much change,” Byrne continued, “but it is a confirmation that due to the strict German regulations, especially in the areas of data security and player protection, we are held in high regard.”
RaceBets was founded in 2005 and quickly established itself as the largest horse racing bookmaker in Germany. German Racing became partners in the company, back in 2010. Since then, a significant percentage of RaceBets’ profits have been reinvested into horse racing.
The company has been offering full betting coverage of UK & Irish racing, since 2012. RaceBets is now one of the most-recognised brands in the global horse racing betting industry. The company offers betting on races taking place in 40 different countries – that is three times as many as RaceBets’ nearest rival.