Greece Online Gambling Regulation
Online: Remote gambling has been regulated in Greece since 2011 through Law no. However, secondary regulation and a formal licensing process for remote gambling operators are yet to be completed. The EU Commission has sent the latest in a long series of letters complaining that Greek gambling regulation is in breach of EU law. The trigger for the latest missive was a decision by the Greek Finance Ministry to offer partially state-owned OPAP SA a ten year monopoly on virtually all online gaming. Online gambling is one of its central industries, and it began licensing companies for betting and gaming back in 1996. This is when the Curacao e – Gaming Licensing Authority was formed. One of the oldest organizations of its type, the authority issues a single master license to eligible operators, covering all forms of gambling. Greece Finally Unveils New Online Gambling Regulation Updated On Sep 18, 2018 by Ella McDonald iGaming operators who had plans to enter Greece have had to wait a long time for online gaming regulation to be released. After the regulation of TV licenses, Greece is trying to regulate the online gambling landscape. A new government-commissioned study has suggested Greece stick with its controversial plan to impose a 35% tax on online gambling revenue.
Greece Online Gambling License
In September 2018, the Greek Ministry of Finance announced the development of an amendment to this law, which will expand the capabilities of online casinos. After multiple public consultations, the amendment was submitted to the European Commission for approval and ratification. The new rules are expected to come into force in August/September 2019.
As of today, it is almost impossible to obtain an online gambling license in Greece. Since 2011, not a single company has done it—all of the above-mentioned 24 operators had been active in the Greek market before 2011. If this amendment is adopted (and experts are confident in that), then in the very near future the Greek market will be open for foreign companies which have fulfilled a number of conditions.
License cost
According to the amendment, there will be two types of licenses:
- for online gambling, including sports betting and online casino games;
- for other gambling activities on the Internet.
Licenses will be issued for a 5-year period. In order to extend it, licensees must inform about their intentions not later than a year before its expiry date. In addition, one license can be held by only one legal entity—transferring rights and granting sublicenses are not allowed. According to the new rules, operators must submit an application to the Hellenic Gaming Commission, provide the required documents and pay a €10,000 fee. Upon the Commission’s approval, they must also pay €4 million into the budget.
Other requirements for obtaining a license
- operators registered outside Greece must have their servers located in Greece;
- executive managers must not have a criminal record;
- an applicant is required to pay €500,000 as a security deposit to any banking institution in Greece or the European Union.
Gambling taxation
At the time of writing, the following taxation scheme applies:
- operators pay 35% of their gross gaming revenue (the amount Greek players deposited minus the amount they won);
- gamblers pay player withholding tax calculated on a progressive scale (first 100 Euros won by a player are exempt from taxation)
Upon the adoption of the amendment to the online gambling law, our experts will familiarize themselves with the requirements of the Greek jurisdiction and will assist you in obtaining a license.
The EU Commission has sent the latest in a long series of letters complaining that Greek gambling regulation is in breach of EU law.
The trigger for the latest missive was a decision by the Greek Finance Ministry to offer partially state-owned OPAP SA a ten year monopoly on virtually all online gaming.
OPAP currently has a monopoly on all offline gambling in Greece. This monopoly is the subject of a legal challenge and the industry anticipates that it will be ruled illegal by the European Court of Justice.
The industry was quick to decry the Greek move.
“There can be no justification for extending OPAP’s monopoly to cover nearly every aspect of online gambling,” stated The Remote Gambling Association in a recent press release. “We have urged the Greek government to reconsider and have called on the European Commission to take action if it does not, because this move is a blatant breach of EU process and EU law.”
European operator SportingBet complained recently that it was “scandalous” that Greece was planning to award OPAP an extension of its monopoly, adding it was “a disgrace” and the Greek government “should be ashamed with how this has been allowed to happen.”
Greece Online Gambling Regulations
Sportingbet has 50,000 Greek customers which it would lose if this monopoly arrangement goes ahead.