Cashpoint awarded first sports betting license in Germany

(PRESS RELEASE) -- Cashpoint, a subsidiary of the internationally active Gauselmann Group, is the first company to have been granted a license to host both online and land-based sports betting in the whole of Germany. It received the license on 9 October 2020 from the competent Regional Council of Darmstadt.

“We are delighted to be the first company to be able to offer our betting program under a state licence to our sports-loving customers”, says Markus Ettlin who is responsible for the sports betting division within the Gauselmann Group. “After many years of legal limbo, binding rules now apply to everyone on the German sports betting market.”

First and foremost, this strengthens consumer and player protection. “That is because now it is not only sports-loving customers but also politicians, authorities and society that can distinguish unauthorized providers from authorized ones”, continues Ettlin.

Company founder and Management Board spokesman, Paul Gauselmann, was thrilled about the license having been granted: “Back in 2014, my corporate group more than satisfied all of the requirements for the first licensing process and emerged as number one from the examination of this extensive process. Unfortunately, it has taken until today to end this state of legal uncertainty. However, it gives me all the more pleasure that we are now finally the first to be license holders.”

“The future will now show the extent to which the state and the responsible regulatory authorities will protect licensed market participants, and thus also consumers, from illegal providers. We will, in any case, do our utmost to ensure that there is fair competition, which is ultimately in the interest of each consumer”, says Markus Ettlin.