Greece’s gambling regulator has opened the application process for its new online gaming licences.
The Hellenic Gaming Commission said submissions can now be made online for all legal entities, including shareholders, key executives, manufacturers, technology suppliers and certification bodies.
Two types of licences are available – to conduct online betting and to conduct other online games of chance.
The Greek Ministry of Finance submitted its draft gambling regulations to the European Commission in January 2020 after being passed in the country’s parliament last October.
The submission confirms that separate licences will be made available for online sports betting and other online games, priced at €3m (£2.5m/$3.4m) and €2m respectively. Each will run for seven-year terms.
Per the bill passed last year, the 24 operators that were granted temporary licences in 2011 were allowed to continue operating until 31 March this year, then have to reapply.
Licence holders must pay a 35% gross gaming revenue tax rate.
Play is restricted to those aged 21 and above. The regulations also impose strict conditions for online casino, including a €2 maximum slot stake, with prizes capped at €5,000, and a €50,000 limit for jackpot games.
The International Betting Integrity Association (IBIA) criticised the Greek government’s plans at the time.
It said: “While IBIA welcomes aspects of the regulations, most notably the general opening the market and the ability for all betting operators to apply for a licence and to operate in Greece, the association contends that there is clear evidence from other jurisdictions that the approach proposed will in fact deter many betting operators from being licensed in the market.”
The online gambling reforms were part of a wider package, called Invest in Greece, that included legislation intended to streamline environmental and planning regulations.
