GiG signs platform agreement with Tipwin
The three-year agreement is based on a revenue share model, with Tipwin expected to launch online casino in the fourth quarter of the year, meaning it will make a positive contribution to GiG’s revenue from 2021 onwards.
“Partnering with GiG in the area of casino technologies will complete our online products and help to offer an unmatched 360 degree online and retail product portfolio to our customers and partners,” Tipwin chief executive Ivica Batinic commented.
GiG CEO Richard Brown added: “We see strong potential in linking up with a brand with a large existing retail customer base and anticipate further growth in the number of casino customers in the German market post-regulation in 2021, therefore partnering with an existing retail offering will enable further capture of the expected transition of customers from land-based to online gaming”.
Tipwin is a popular sportsbook brand in the German market, with a significant retail presence and sponsorship deals with two major German football teams, Bayer 04 Leverkusen and Eintracht Frankfurt, making it a highly recognised brand in the jurisdiction.
It will also be integrating GiG’s casino platform technology into its new proprietary online sportsbook platform, ahead of Germany legalising online casino and sports betting next year.
However, it is unclear whether this will go live from the fourth quarter. At this point, operators in Germany will be permitted to offer online slots and poker alongside sports betting under a regulatory transition period. During this transition period, operators in the country will be expected to abide by the regulations set out in the Glücksspielneuregulierungstaatsvertrag (GlüNeuRStV), which officially comes into force in July 2021.
Operators of online slots, poker and sports betting will be able to continue offering their products in the jurisdiction, provided they are compliant with the GlüneuRStV by 15 October.
Restrictions include only offering in-play sports betting on next goal scorer and final results, a €1 stake limit for online slots, and a blanket €1,000 per month spending limit applied for all players, though a limited number of customers users may apply to have this limit raised to between €10,000 and €30,000.