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The Guardian - UK

Alex Hawkes

Boost for Betfair as EU weighs in on German tax row

Betfair was one of the beneficiaries today of suggestions from the EU that Germany cannot ban online gaming.

Shares in both Betfair and Bwin.party have suffered as a result of Germany's proposals, which would have imposed a 16% tax on all stakes and limited the number of licences for private businesses.

Bloomberg cited an e-mail statement from the EC saying that "Germany should not adopt the draft."

Bwin.Party was up 5.8%, by 7.7p, to 140p, while Betfair rose 3.1%, or by 19p, to 634.5p.

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