The betting company betandwin, recently renamed to the short Bwin has just lost its license to continue Sports betting in Germany.
The company was established 12 years ago by Steffen Pfennigwerth, who discovered the chance to join the betting market in Germany. But agains European rulings Germany reclaims the exclusive right on gambling games and ends the rise of Bwin for now.
1The company made quite a lot publicity and the past month, especially during the FIFA World Cup by spending millions on TV, Radio and Print advertising. Now, as the business-model seems doomed soccer clubs and parts of the sports industry have to look for other revenue sources.