The Greek government is looking to increase their annual online betting revenue to €73 million. Whether they are able to meet this goal will be difficult to determine even with the increase in taxes. Recently, OPAP lost its gambling license and gambling industry analysts believe this will allow the Greek gambling industry to grow. An insight to the Online gaming in Greece November 2018 On 5.10.2018 the consultation on the draft bill which introduces amendments to Law 4002/2011, constituting the regulatory framework for licensing of e-gaming operators in Greece, was concluded. The Greek online gaming market is a regulated market, supervised by the. Online Gambling home Greece For the reason that cutting edge of a number of over the internet gambling houses on 1996, the increase and acknowledgement on the internet casino market place has skyrocketed at a remarkable price. Mitchell sections of which the best quality few moments so that you can. Casino VIP Programs; Online Casinos. Online Casino Payment Methods; Online Casino Game Providers; Online Casinos by Supported Languages; Online Casinos by License Jurisdiction; Online Casinos by Accepted Currencies; Casinos Without Registration and Instant Withdrawals; Mobile Casinos; Gamification Casinos; New Slots. New Slots 2020 – The. Obtaining a casino/gambling license is an important step when entering the world of online casinos; a license avoids any problems with the law and gains the confidence of your players.

1. Greece Online Gambling License Verification
2. Greece Online Gambling License Requirements
3. Greece Online Gambling License Renewal
4. Greece Online Gambling License Application

Greek Finance Minister Euclid Tsakalotos has presented the initial framework for the nation’s new online gambling licensing regime, seeking to continue the overhaul of Greek-wide industry regulations.

Greece Online Gambling License Verification

Since 2011, The Greek government has allowed 24 operators to operate online gambling services, sanctioned through ‘transitional permits’.

The Ministry of Finance will allow these operators first right to secure its revamped online gambling licenses, however, stakeholders will likely be disappointed by the steep costs attached to procurement.

In its proposed framework, the Greek government has attached a €4 million fee for securing an online sports betting licence, with operators forced to pay an additional €1 million for operating further online gambling services.

At present, the proposed online gambling licences will last for a period of five years, with operators further required to prove that they operated legally within regulated EU jurisdictions, along with records disclosing up to three years of corporate financial performance.

On application, all interested parties seeking to secure a new online gambling license will be forced to deposit €500,000 with the Greek Finance Ministry.

The Greek government has stated that it won’t allow ‘black-listed operators’ to apply for licensing for a period of up to 12 months. Applicants will learn of their acceptance within two months of filing.

Further complications see the Ministry of Finance attach a ‘variable tax’ on consumer winnings above €100, which will be withheld by Greece’s tax authority before redistribution to customers.

As yet, little is known as to whether the Greek government will seek to adjust its 35% revenue tax on online gambling services.

Greece Online Gambling License Requirements

The Ministry of Finance will move to open a consultation window on its proposed framework, seeking advice and opinion from active stakeholders within the Greek gambling market.

For months, lawmakers in Greece have been looking at ways to generate more revenue from the gambling industry. This week, a set of new gambling laws in Greece was officially approved by Parliament. It’s an exciting time for both gamblers and gambling operators in this country.

Many countries in Europe are choosing to update their gambling regulations. Today, we’re going to look at what new laws Greece has approved. We’ll also talk about how these new regulations will affect gamblers and gambling companies in this country. Let’s get into it!

Greece Flip Flops on Tax Raise For Online Gambling Operators

As we’ve already mentioned, lawmakers in Greece have been working hard to generate more money from the gambling industry. Not long ago, the Ministry of Development here introduced a plan to hike gambling taxes for online gambling operators. It was supported by many individuals, who felt it was time for gambling companies in this country to pay more money.

Under the proposed set of laws, online gambling operators in this country would be required to pay 35% of their gross gaming revenue to the government in taxes. Operators would also not be able to deduct this tax before any corporate tax is applied.

Greece Online Gambling License Renewal

Several days ago, reports surfaced that the government was reconsidering these plans.

Now, it appears that the government is changing its stance on again. Parliament has officially approved the new gambling laws in Greece.

Greece Online Gambling License Application

Let’s look at what’s coming here.

New Gambling Laws in Greece, Explained

As we’ve already mentioned, online gambling operators in Greece are seeing their tax rates increase. There are also a number of new regulations that are coming here. Many companies are also now able to continue offering popular games.

Under the new gambling laws in Greece, online gambling operators are now allowed to offer their players Random Number Generators, such as slot machines. The licensing fee for online casino operators has been moved to €3 million. A 35% gross gaming revenue tax is being placed on these companies. A 20% corporation tax is also being implemented.

All 24 of the licensed online gambling operators in Greece can continue offering services here until March of 2020. Once this date arrives, these companies must reapply for a new license. The companies previously blacklisted by the government will not be eligible to apply for one of these new gambling licenses.

These new regulations will almost certainly help the government receive more money. The higher tax rate, in particular, will have a major impact on revenue earnings. Hopefully, the online gambling operators here choose to reapply for their licenses in 2020.

Recently, one of the top US casino companies revealed its plans for a new casino near Athens.

Mohegan Gaming Pushes to Operate Casino in Greece

Mohegan Gaming & Entertainment is one of the biggest casino companies in the US. Earlier this month, officials within this company revealed their plans for a casino in Greece.

The Greek government is currently taking bids for the right to operate a casino-resort on the Athens Riviera. As of now, only two companies are competing for the right to operate this new gambling venue. Mohegan Gaming announced that it’s teamed up with a major Greek company to construct an $8 billion resort called Hellenikon, on the sight of the former Athens airport.

Mohegan plans to construct two major skyscrapers with the casino-resort. A luxury hotel, entertainment area, and an entire sports venue will open, too. The casino is expected to be constructed within two to three years.

The new gambling laws in Greece will not affect the country’s land-based casino industry.

Do you think these new gambling laws in Greece are fair? Let us know in the comments section below!

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