mybet Lawsuit Results in €11.5 Million Settlement

April 10, 2014 by

mybet LawsuitIn the online gambling world, there are often big disagreements that lead to lawsuits. These lawsuits are an inevitable part of a business this large with so much money being moved around. Online gambling business mybet has been involved with a long dispute with WestLotto, a premier German lottery agency, and this dispute has finally ended. This mybet lawsuit has ended with a large cash settlement to the tune of €11.5 million, and that comes out to about $14.9 million in USD. This is a pretty significant amount of money, and it comes after a long legal battle that could change the face of online gambling law in certain parts of the world.

About the mybet Lawsuit

Way back in 2008, mybet started the legal process of trying to get compensation for what they saw as unfair business boycotts. This was against the German Lottery and Pools Organization. The way this worked is that the organization kept a mybet subsidiary from advertising in certain locations for its own lottery operations. This primarily included local businesses like supermarkets and gas stations. This is illegal in the area, and it ended up in a €11.5 million settlement for the losses that they had from that and interest on those lost profits.

Laws Protecting Fair Competition

One of the most important parts of gambling law is that ability for licensed companies to compete against each other in a fair environment. While this is typically seen as a protection for the businesses, it’s also pretty important for the players as well. When competition increases, players always get better deals and better options on where to play. This competition pushes operators and software companies to work harder, and this improves the industry as a whole as well.

These are the principles that have helped to make the online gambling industry evolve so much over the past couple of decades. Games, promotions and software have made huge advances in a relatively short period of time, and competition is what has driven these changes that have ultimately made the industry bigger than ever.

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