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Gambling stocks are the winners

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Die Aktie von Tipp24 legt um zwölf Prozent zu. Quelle: dpa

The shares of Tipp24 sets to twelve percent. Source: AP

HB FRANKFURT. The shares of gambling and betting have increased significantly following the decision of the European Court of Justice on sports betting and gambling. Shares of Tipp24 from the SDax gained about twelve percent. Bet -at -home rose by almost 20 percent. The Vienna -listed titles by Bwin rose by six percent.

The European Court decided in the morning, the German monopoly on sports betting and gambling is not compatible with EU law. The German legislation infringes the right of establishment and freedom to provide services in the EU.

The EU’s highest court justified its position with the substantial advertising, which operated the state- approved provider of gambling. The monopoly does not serve more to combat gambling addiction , as the government side had always argued.

The German scheme should not continue to apply until the new one is adopted , which accords with EU law , said the judge.

For the gambling provider is the one positive message, commented one dealer. Another market players said , until there is first estimates of lawyers are still many questions open. "But at first glance, the well- off " , he added.

Even analyst Christoph Schmidt of asset managers NMF AG warned that it would probably take some time to react to the German justice on the Court would .