The new Greek draft gambling law submitted to the European Commission

8 Jan 2020

greek-lawThe new draft law on online gambling, that was initially submitted to the Hellenic Parliament on October 9, 2019, has been eventually submitted to the European Commission (TRIS) on the 31st of December 2019 by the Greek Ministry of Finance. It will be under review for three months, with the 1st of April 2020 marking the end of the consultation period.

According to the provisions of the law, online sports betting and other online games (i.e. poker, casino games and RNG games) will be subject to different licenses. More specifically, the acquisition fee for a sports betting license will be at €3m, while the fee for a license of other online games will be at €2m. Both license types will be valid for a period of 7 years.

It is worth mentioning that RNG games will be subject to a maximum stake of €2, while the maximum profit per gaming session will be at €5,000. As regards the jackpot, the maximum payout will be at €500,000. Furthermore, there will be some restrictions regarding the advertisement of RNG games, that can only be promoted on the websites of the operators that offer them.

Nonetheless, the aforementioned advertising restrictions won’t be applicable to other types of online gambling, such as live casino games, poker or sports betting; while the minimum gambling age for all types of online games will remain at 21.

It is also worth noting that all the operators that were included on the blacklist issued by the Hellenic Gaming Commission (HGC) 12 months prior to the submission of their license application, will not be eligible to apply for a new license.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

The Swedish bookmaker Betsson enters the Kenyan betting market via its Betsafe brand, which will be operated by the local company Bet High. The Kenyan...

Read more »

LeoVegas announced last week that players are from now on able to use open banking as a payment method on its website. The so-called PSD2 (The Revised...

Read more »

On Thursday, Canada’s Minister of Justice David Lametti announced that the federal government would amend the Criminal Code’s sports betting provision...

Read more »

The Malta Gaming Authority (MGA), the well-respected regulatory body, has introduced a new online platform that will allow bookmakers to report suspic...

Read more »

The Danish gambling market experienced a 5% revenue drop year-on-year (YOY) for Q3 2020. According to figures from the Spillemyndigheden (Danish Gambl...

Read more »

The UK-based bookmaker Spreadex has been named the EGR Awards 2020 spread betting operator of the year. The annual EGR Awards are organized by the eGa...

Read more »

GVC Holdings PLC has embarked on a new sustainable growth strategy that includes the rebranding of the company as Entain and the decision to pull out ...

Read more »

Kambi Group, the renowned provider of sports betting services to licensed online gambling operators, reported €28.1m in revenue for Q3 2020. This mean...

Read more »

The online gambling operator LeoVegas posted its financial results for the three-month period (Q3) up to September 30, 2020. The generated revenue was...

Read more »

Norwich City announced a new betting partnership with the acclaimed bookmaker 888sport. The renowned betting brand does not only have a strong presenc...

Read more »

Latest Betting Offers