Deutsche Telekom To Enter German Sports Betting Market (update)

As majority stakeholder of Deutsche Sportwetten GmbH

Deutsche Telekom, through its recently acquired 64 percent stake in Deutsche Sportwetten GmbH (see previous InfoPowa report), is looking toward cashing in on the estimated multi-billion Euro German sports betting market with the launch of a purely internet-based sports betting offer during the first quarter of the year.

DSW founder, Austrian Sportwetten GmbH, (OSW), will retain a minority share of the company saying it "…will not reinvent the theme of sports betting, now it has a partner on board for its debut in a fast-growing [online] market, a partnership that fits the strategy of Deutsche Telkom."

One of 20 companies awarded controversial sports betting licenses by the German State of Hesse, DSW will launch its sports betting offer on only offering betting markets on professional sport.

Its initial offer will launch without waiting for resolution on the objections to Hesse sports betting licenses, Deutsche Telekom said, as the company holds a license in European Union neighbour country Austria.

Online Casino News Courtesy of Infopowa

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