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Legislation

Greece – Greek Ministry publishes new laws for online gambling

By - 15 October 2019

The Greek Ministry of Development and Investment has published a new bill for online gambling licenses and taxation, which will allow Greek online sites to offer both online sports betting, casino games and slots, marking a huge shift in thinking compared to previous legislation, which didn’t allow for slot games.

The new bill also reduces the cost of an online license whilst increasing taxation.

The Ministry stated: “With this legislative measure, we are ensuring healthy competition between market participants, guaranteeing the safe participation of the players and attracted. We believe this move will also increase the revenue paid to the Greek state through the licensing process. It improves player protection by shifting a significant portion of them from illegal online gambling networks to legal and fully regulated networks.”

The bill will set the cost of an online gambling license at €3m, down from the €4m suggested last year. It will also increase the term of a licence from five to seven years. It will cost a fee of €10,000 to apply for the licensing process.

Operators must be located in Greece or in another EU country but with the server storing game data located in Greece.

Revenues generated by online games and sports betting will continue to be taxed at 35 per cent, however, corporation income tax is likely to increase.

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