Greece has its capital in Athens and has Bulgaria, North Macedonia, and Albania to the north and Turkey to the northeast. When looking at the history of the country and the development of the betting industry, it is possible to notice that the laws and rules have been changing constantly to provide a stable, yet not rigid, environment for bookmakers. This article aims at exploring the details of the gambling legislation in Greece and the specifics of Greece bookmakers, sports betting, the regulation authorities, licenses, and taxes.
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Table of Contents
Summary of Key Events
The History of Greek Gambling Legislation
The history of the Greek legislations on gambling is checkered with strict provisions and then the opening up of the sector. Let’s explore this timeline:
- 2002: The Greek Government issued Law 3037/2002 that prohibited all forms of electronic gaming. This Act did not make a distinction between online gambling, gambling machines that are located on land, and online video games; this resulted in a ban that was extended to include even the playing of video games in internet cafes.
- 2011: The legislation of Law No. 4002/2011 was made and provided for transitional licenses of 24 current online operators and set up the Hellenic Gaming Commission to regulate gambling activities.
- 2012: The Ministry of Finance suggested that the online gambling will be a state monopoly and the only legal operator will be OPAP. Interim licensees were told to stop provides of their services within a specific time frame.
- 2013: The CJEU stated that OPAP’s monopoly was unlawful, even though the government had permitted it to place additional physical VLTs after granting it a license.
- 2016: Greece concentrated on the operators and set the GGR at 35%.
- 2018: The Ministry of Finance followed the licensing fees of €4 million for a single application and €5 million for two verticals in order to increase the budget revenue as well as the level of satisfaction of the players.
- 2019: Law 4635 of the 8th of October 2019 amended the licensing regime through the issuance of fixed-term renewable licenses for online betting.
- 2020: The Greek Parliament has approved the draft Gaming Regulations which was submitted to the European Commission by the Ministry of Finance.
- 2023: The HGC had proposed a draft regulation concerning land-based casinos which is under the public consultation till September 15, 2023.
Greece Bookmakers: Regulation and Licensing
HGC, also known as the Hellenic Gaming Commission, is the main regulator of gambling in Greece. The HGC was formed under the provisions of the Law No. 4002/2011 and its mandate includes; regulation of gambling laws, issuing of licenses to gambling operators and monitoring of compliance.
Different Kinds of Greek Gambling Licenses
Gambling licenses in Greece are categorized based on the type of gambling activity:
- Online Betting License (Type 1): It includes the actual events, the fantasy sports, the virtual events and the other betting events. It is renewable every seven years and cost three million Euros.
- Online Casino License (Type 2): Lays focus on the casino games and poker, live as well as RNG. It also has a seven-year term renewable contract and costs €2 million.
- For land-based casinos, licenses are divided into:
- Simple Type Casino License: Valid for 15 years with an option to renew for another 10 years, it covers the gaming areas, accommodation establishments of 3-star and above, among others.
- Resort or Integrated Casino License: For 30 years together with a 20-year extension, it covers integrated resorts with gaming floors, 5-star hotels, and other tourist-orientated structures and facilities.
Greece Sports Betting: Taxation
Greece sports betting is rapidly growing, and there are many legal requirements that may have formed its growth. It can, therefore, be stated that the online betting market is a legal one since operators are required to have a Type 1 license. The law also provides that all licensed websites must be concluded with the . gr extension.
Prohibited and Allowed Bets
Greece’s gambling laws outline specific restrictions and allowances for sports betting:
- Allowed Bets: The types include; traditional sports, fantasy sports, and virtual sports.
- Prohibited Bets: Some of the special bets and laying bets on non-sporting events may be prohibited as per the rules and regulations of the HGC.
Taxation on Bookmakers, and Sports Betting.
Taxation plays a crucial role in Greece’s gambling framework:
- GGR Tax: To this, the licensee shall pay a tax of 35% on gross gambling revenue.
- Corporate Tax: 20 percent, taken prior to GGR taxes.
Customer Winnings Tax:
- None on winnings of up to €100.
- A 15% on winnings of between €100 to €500.
- It is 20% on the winnings which are more than €500.
Major Events in Greek Sports History
Greece has a rich history of sporting achievements, with several milestones in various sports:
- UEFA Euro 2004: The Greek football team emerged the Champions and they defeated the Portuguese team in the finals.
- FIBA World Championship 2006: Thus, Greece’s national basketball team became the silver medalists of the tournament.
- EuroBasket 2009: Greece basketball team got the third position and they won the bronze medal.
- Summer Olympics Participation: Greece is one of the four nations to compete in every Summer Olympic Games since the first modern games in 1896.
- Athens Marathon Victory: Spyridon Louis was the first person to win the modern Olympics marathon in the year 1896.
Conclusion
Therefore, Greece is still in the process of strengthening the legislation and regulation of the gambling industry for bookmakers and sports betting fans. Greece has a strong legal background and thus, continues to be an interesting jurisdiction for both the gambling operators and the bettors. Whether you are a high net worth investor or a general sports fan, it will be useful to know more about the Greek gambling industry and this is where the present article comes in handy.
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