Greece is an EU member country, widely known for being the home of the ancient Olympic Games. It is proud of its rich cultural heritage. When it comes to gambling, it also has a long history dating back to ancient times.
Interestingly, the game has entered Greek mythology. According to legend, Zeus, Poseidon and Hades rolled the dice to decide which part of the world belongs to whom. There is also a legend behind the origin of the game.
Gambling Laws in Greece
Gambling in Greece has always been a popular pastime among all social classes. According to Greece Casino Legislation and Laws, physical casino games are legal. The country is home to eight land-based casinos offering various table games as well as slots and video poker. When it comes to online gambling, the situation is more complex.
Online gambling began to gain momentum in the 2000s. Some countries decided to regulate the online gambling industry to stimulate their economies. Others have taken a strict approach to trying to protect people from gambling-related harm.
Greece was one of the countries opposed to the legalization of Internet gambling. In 2002, Greek lawmakers enacted Law 3037/2002, banning all forms of electronic gaming. The only problem with the law was that it could not differentiate between Internet gambling, slot machines in land-based casinos and online video games.
Greece is moving towards a liberal regulatory framework for games of chance
In 2008, the world was rocked by one of the worst financial crises, plunging many countries into economic difficulties. Seeking ways to mitigate the effects of the financial crisis, Greece has decided to adopt a more flexible regulatory framework for gambling.
In 2011, the law was changed to allow slot machines in land-based casinos and online gaming. As a result, the government granted licenses to 24 gambling operators and proposed to implement a permanent licensing system. Some of the first operators to enter the Greek market were William Hill and Betfair.
OPAP betting and gaming monopoly
In 2012, the government abandoned this idea after the Greek Ministry of Finance came up with the idea of granting a monopoly to the state operator OPAP in the online gambling market in Greece. At that time, OPAP already had a monopoly on the provision of land-based sports betting and lotteries services.
In November 2012, the government forced licensed remote operators to comply with new regulations and leave the Greek market. The country has been reprimanded by the European Union for violating EU rules. In January 2013, the Court of Justice of the European Union declared that the monopolization of the Greek gambling market was against the law.
In 2013, OPAP was privatized and is currently privately owned and privately operated. However, it has a monopoly on casino games until 2030. The EU has said that it is not illegal for remote gaming operators to welcome Greek players because at the moment it is not not possible to obtain a license due to monopoly.
Recent changes
In January 2020, the Greek Ministry of Finance submitted a draft regulatory framework on gambling to the European Commission. The Hellenic Gaming Commission has announced the opening of the license application process.
The costs for obtain a license for online sports betting is 3 million euros, while the fee for the provision of online casino gaming services is 2 million euros. Licenses are valid for seven years and licensed operators must pay 35% of gross gaming revenue.
According to the new gambling regulations in Greece, players must be at least 21 years old to participate in gambling and betting activities. Additionally, a €2 betting limit on slot machines has been approved. According to the regulations, prizes must not exceed €5,000, and a limit of €50,000 for jackpot games.
