Deutsche Telekom shuts Germany-facing sportsbook
Tipp3.de closes just one year after launch having failed to live up to early expectations
Telecommunications giant Deutsche Telekom has closed its Germany-facing sportsbook after failing to live up to expectations, eGaming Review has learned.
According to the communications giant, Tipp3.de, which launched in April 2015 as part of a JV with Austrian operator ?sterreichische Sportwetten, was pulled earlier this month for “commercial reasons”.
The product was unveiled to much fanfare with Deutsche Telekom’s financial clout and wide reach expected to propel the product into the top tier of Germany-facing sportsbooks.
And with the German federal state holding a 31% stake in Deutsche Telekom, the launch of the sportsbook was considered a green light for other operators to continue offering products in the country despite the ongoing lack of licensing framework.
Speaking to EGR, one German market expert said he wasn’t surprised Tipp3.de failed, criticising the quality of product which ultimately turned the project into “an expensive mistake”.
“I am quite sure this was a real money killer with zero income,” he said. “It was a horrible and outdated product that was never going to be able to complete with the likes of Tipico and bwin.”
?sterreichische Sportwetten will continue to operate the Tipp3 brand in the Austrian market.