Greece Bookmakers

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.

Greece Bookmakers

Table of Contents

Law 3037/2002: Outright banned all forms of electronic gaming.

Law No. 4002/2011: Created the Hellenic Gaming Commission, and issued interim licenses.

2013 CJEU Ruling: Criticized as having declared OPAP’s monopoly unlawful.

Law 4635/2019: Reformed the system of licensing of online gambling.

2023 Draft Regulation: New measures have been put in place for land based casinos.

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.

FAQ about Greece Bookmakers

Related content

Europe Bookmakers

Ireland Bookmakers

Ireland Bookmakers

Gambling laws and regulations, just like every other aspect of the Ireland society, has a long history and culture. With the ever-growing scope of gambling, it becomes essential to learn the details of Ireland bookmakers and sports betting laws for ... Read More about Ireland Bookmakers
Italy Bookmakers

Italy Bookmakers

Italy is a country situated in southern Europe and is headed by Rome as its capital; it is neighbored by France, Switzerland, Austria and Slovenia to the north and by the Adriatic Sea, Ionian Sea and the Tyrrhenian Sea to ... Read More about Italy Bookmakers
Kosovo Bookmakers

Kosovo Bookmakers

North Macedonia lies to the south of Kosovo, Albania to the southwest and Montenegro to the northwest. In the modern world, the panorama of gambling in Kosovo has significantly shifted, especially after the 2019 act that prohibited most types of ... Read More about Kosovo Bookmakers
Macedonia Bookmakers

North Macedonia Bookmakers

North Macedonia lies in the south-eastern part of the Balkan peninsula in southeastern Europe. On its west, Albania, to the south Greece, to the east Bulgaria and to the north Serbia. Gambling laws and legislations have changed a lot over ... Read More about North Macedonia Bookmakers
Bulgaria Bookmakers

Bulgaria Bookmakers

Located in the southeast of the Balkan Peninsula, Bulgaria is a country with a long history and a vibrant present day. The entire gambling industry in the country is strictly regulated by a series of laws and regulations, the main ... Read More about Bulgaria Bookmakers
Finland Bookmakers

Finland Bookmakers

Finland as a country is situated in the northern part of Europe and the capital city of the country is Helsinki and the country shares its borders with Sweden, Norway and Russia. Nevertheless, there is another feature that can be ... Read More about Finland Bookmakers
Norway Bookmakers

Norway Bookmakers

The gambling activity can be considered as limited in Norway, with a rather strict stance from the government to regulate the sector properly. This article provides an insight into the different aspects of the gambling laws and legislations that exist ... Read More about Norway Bookmakers
Switzerland Bookmakers

Switzerland Bookmakers

Switzerland, the home of the affluent, has some of the best mountains for skiing, snowboarding and mountain climbing among others. Nevertheless, apart from the winter sports which are quite famous for in Switzerland, it has a properly organized and developed ... Read More about Switzerland Bookmakers
Vatican City Bookmakers

Vatican City Bookmakers

The Vatican City is an independent city-state situated in the city of Rome, Italy and is famous as the center of Christianity and the headquarters of the Roman Catholic Church. However, the situation is quite different concerning gambling, especially Vatican ... Read More about Vatican City Bookmakers
Latvia Bookmakers

Latvia Bookmakers

Latvia is situated in the eastern coast of the Baltic Sea and has a long history and a changing environment regarding gambling. As a result of the independence of the country in 1991, the government has put in place laws ... Read More about Latvia Bookmakers
Scroll to Top