Betfair can now operate in Germany with new license

Betfair, one of the largest betting groups on the market, has managed to obtain an online gambling license from the Schleswig-Holstein state in a bid to strengthen its position in Germany.

Thanks to this, it can now offer its online services to German customers and capture a share of the German sports betting market, which is estimated to be worth more than £40 billion.

The importance of this step was immediately reflected by the prices of Betfair's shares, which climbed sharply soon after the announcement. This happened despite the fact that Betfair will now probably have to pay more than £3 million in taxes.

Betfair is now in the elite club of few companies that can legally operate in Germany and  it goes without saying that this license will only add to the firm's prestige. In the future, it may also give Betfair a serious advantage in case it decides to apply for a gambling license in the huge US gambling market.