Daily Fantasy Sports (DFS) games began to slowly increase their visibility more than a decade ago. Since then, their popularity has been expanding and many sports fans and bettors found such games engaging and entertaining. Mostly favored in the United States, DFS games are also available in different jurisdictions around the globe including Europe and Latin America.

In light of the increase in popularity of such games, the gambling regulator in Germany, the Federal Authority known as Gluecksspiel (GGL), recently looked into DFS games. But what are DFS games? Such games enable the participants to form a team consisting of virtual players that are based on the stats of real players from different sports leagues.

Once a team is formed, then the participants play against each other and depending on the statistics of the players, an outcome is determined which can be either a win or a loss. This functionality, which resembles a “game of chance,” according to the regulator, needs to be regulated.

Protecting the Consumers Is Paramount

The effort, GGL explained, comes at a time when the regulator seeks to implement effective protection for online gamblers. The GGL classified some DFS games as “illegal gambling.” However, upon further consultation late last month, it allowed a limited number of DFS games to operate and classified them as gambling products under the Fourth Interstate Gambling Treaty (GlüNeuRSt) in the country.

“Fighting illegal gambling is an important consumer protection issue and can only be effective if all other authorities involved, such as law enforcement agencies, pull together.“

Benjamin Schwanke, CEO of GGL

GGL’s CEO, Benjamin Schwanke, explained that the fight against illegal gambling can be effective only if different law enforcement, authorities and regulators join forces. Still, he acknowledged that protecting consumers from illegal gambling is significantly important.

“We find that our decisions are accepted by the providers and implemented promptly.“

Ronald Benter, Board member of the GGL

Ronald Benter, GGL’s Board member, added that the Authority sees that providers adhere to GGL’s decisions and implement changes quickly. He pointed out that the changes related to DFS games ultimately seek to protect consumers from gambling-related addiction and illegal gambling. Benter reminded that a whitelist containing all regulated operators can be found via GGL’s website.

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LeoVegas Group has been greenlit to launch its LVSports Limited brand in Germany after securing approval from the Gemeinsamen Glücksspielbehörde der Länder (GGL). Thanks to that, the company will be able to make a foray into one of Europe’s largest online gambling markets.

Under the terms of its license, LVSports Limited will be able to offer and market virtual slots across Germany. As a result, the company will be able to conduct nationwide marketing and offer its products in all sixteen German states.

LeoVegas believes that this launch is a significant opportunity for the company which has been keen on expanding its presence in Europe. Gustaf Hagman, the group’s chief executive officer, addressed the matter, saying that his team is excited about the launch. Given the company’s expertise in offering gambling across many jurisdictions, Hagman is certain that LVSports Limited will capture the hearts of German players while protecting them from harm.

We are looking forward to launching LeoVegas in Germany under the new nationwide license. With our track record of regulated markets, we will ensure the greatest iGaming experience with a high level of consumer protection.

Gustaf Hagman, CEO, LeoVegas Group

LeoVegas Wants to Innovate iGaming

LeoVegas Group is a leading iGaming giant that aims to reshape the online gambling ecosystem. The company offers iGaming, live casino and sports betting through its 10 brands in 9 markets. LeoVegas’ operations are made possible by its team of more than 1,000 employees, supporting the company from its offices in Stockholm and Malta.

LeoVegas seeks to be a true innovator and is also keen on supporting other brands through its LeoVentures investment division.

Last year, the group was acquired by MGM Resorts International, a global gambling juggernaut. Ahead of the acquisition, LeoVegas posted its financial results for the third quarter of the year, emphasizing a small decline in revenue.

Soon after that, three LeoVegas workers were arrested over insider trading. An investigation noted suspicious trading activity just before the merger with MGM Resorts was announced, leading to the eventual arrest of the participants. One of the arrestees held a senior management position at the company and had insider price-sensitive information, which he is suspected of leaking out to third parties.

In more recent news, LeoVegas just announced its decision to divest a quarter of BeyondPlay to Bettor Capital in a $2 million deal.

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