First online licenses in Greece

According to the Greek gaming authority, a total of 15 licenses could be awarded. It is still unclear which companies have applied despite the high costs.

The limited number of licenses is due to the relatively strict regulations that apply to the country. In addition, there is a high cost for companies in order to be able to get a license for the online gambling at all. A sum of two million $ is already high to get a license for gambling. But online sports betting providers even have to pay three million $ for a license.

The first gambling groups with license

Betsson, Betshop and Bet365 are the first companies to be happy about a license. Betshop refers to his now available online games as B2B Gaming, while Bet365 offers the Lucky Stream brand. The provider Betsson has already publicly comment on the license award. Accordingly, the company is very happy about the trust that Greece brings to him. In addition to the typical Online casino games Sports betting also includes Betson’s offer. For both areas, the provider has now received a license for seven years. With Greece, this company now offers its services in 18 markets. An already existing merger with other providers is intended to ensure more player protection and also more scope of the offers. Betsson has also already completed a cooperation with the most important payment service providers.

Strict license and control rules

The first licenses were awarded around two years after the beginning of the planning. The first regulations and requirements were developed in 2019. In addition to these sometimes strict rules, there are also strict control rules in Greece, which have also changed last. This increased the corporation tax. Previously, the gaming tax was first subtracted by the income and corporate tax was calculated with the resulting profits. With the new calculation of corporate tax, the gaming tax for calculating corporate tax is no longer deducted. This increases the sum to be paid. Contrary to the hope of a lower gaming tax, this remains with 35 percent to be paid.

Part of the strict prerequisites to acquire a license is also the seat of the online gambling provider. The group must be based in Greece or another European country. It is particularly important that the server is located in Greece and the website ends. Furthermore, companies that want to receive a gambling license must disclose the annual reports of recent years. In addition, a deposit of 500,000 $ and an additional contribution of 200,000 $ is to be deposited. A license now preserved is valid for all the restrictions instead of only five years two years longer – i.e. seven years. For this purpose, online gambling companies with a license can now also offer randomly-based online games and sports betting.

Better player protection through legalization

The legalization of online gambling in Greece could be a reaction to the approval of other countries or to the popularity of the offers. To illegal Online gambling game Preventing and being able to control the market in a way can help legalization. Using licenses, players can also assume high player protection. Nevertheless, the players are not prescribed a monthly application limit – in contrast to USA. Even if an operational limit can represent a measure against gambling addiction, it is often not in the interests of the players.

It is not yet known which online gambling providers will get licenses. The application for a license must have already been made, but whether there are other applicants at all is also unclear. The high costs to acquire a license could have put into many companies. It remains to be seen whether and to which companies the Greek gambling authority still awards a license.