Greece Unveils New Online Gambling Licensing Framework

Greek Finance Minister Euclid Tsakalotos (l.) has released details of a new online gambling framework. The proposal would set high fees for online gambling companies seeking five-year licenses. A variable tax on gambler’s winnings is also proposed.

Greek Finance Minister Euclid Tsakalotos has announced an initial framework for the nation’s new online gambling licensing regime.

Greece has allowed 24 operators to run online gambling sites in the country under transitional permits. The Ministry of Finance will allow these operators first right to secure its revamped online gambling licenses.

However, the Greek government has attached a €4 million fee for securing an online sports betting license, with operators forced to pay an additional €1 million for operating further online gambling services. On application, companies will have to deposit €500,000 with the Greek Finance Ministry.

The Greek government says won’t allow ‘black-listed operators’ to apply for licensing for a period of up to 12 months.

The Ministry of Finance has also attached a ‘variable tax’ on consumer winnings above €100, which will be withheld by Greece’s tax authority before redistribution to customers.

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.