The cash-out feature allows online sports betting to be settled before the end of a sporting event. For many players, this is an attractive option. However, the cash-out feature is prohibited for all sports betting in Germany. Many live betting options are also not permitted.
Nevertheless, the cash-out feature is extremely popular for individual matches and combination bets. It offers players the option of early payout before the match(es) have finished. This can sometimes be an advantage and sometimes a disadvantage for the player. For example, FC Barcelona recently turned a 2-4 deficit against Benfica Lisbon into a 5-4 victory in the Champions League. VfL Bochum managed to turn a 0-3 deficit into a 3-3 draw against RB Leipzig in the Bundesliga. Players who used the cash-out feature in such matches may have lost a significant amount of money.
However, these cash-out functions are prohibited for all online sports betting in Germany. The cash-out option is still sometimes offered, and many players are likely unaware of the prohibition. ” They therefore have the option of reclaiming their losses ,” says lawyer István Cocron.
Online gambling, including sports betting on the internet, is only permitted in Germany if the operator has obtained the required license. However, the license is not a free pass. Operators must meet certain conditions, such as adhering to a monthly deposit limit of €1,000 for players. In case of violations, the license can be revoked, and players may be entitled to a refund of their losses.
” It’s a similar situation when players in Germany are given the option of a cash-out payment. Since this function is prohibited in Germany to protect players, they can reclaim their losses ,” says lawyer Cocron, who has already represented numerous players in recovering losses from online gambling and online sports betting.
