New gambling law in Greece to change the landscape of the local market

new gambling law in GreeceThe change of the government in Greece brought news to the field of online gambling as well. The new right-wing government proceeded to submit a new gambling law draft to the Greek Parliament on 9 October 2019 and it has significant differences compared to the one proposed by the previous left-wing government.

The decisive changes concern the acquisition fees for sports betting and gambling licenses, the period of holding the license, taxation and including RNG games in the operators’ portfolio.

As far as licenses are concerned, the government issued 2 types of them like the previous period but the acquisition fees have changed. In the case of the online sportsbooks licenses the fee was reduced from €4,000,000 to €3,000,000 while in the case of online casinos, that include a live casino section, there was an increase from €1,000,000 to €2,000,000. The validation period of the new licenses will be extended two years from 5 to 7. The operators will be obliged to reapply one year before the validity period of their license is completed and the renewal fee will be exactly the same.

Another change to the new draft is the inclusion of the RNG games as part of the online casino portfolios, which is an attraction to any operator that is thinking to form an application.

The government in a try to create even more appealing conditions for the potential investors, abolished the 35% tax on GGR (Gross Gaming Revenue). Instead, the government imposes the same tax percentage (35%) as a normal corporate tax.

Affiliate marketers will face new regulations as well. When the new law comes into effect they will have to be introduced on an Affiliate Register by paying a fee of €1,000.

The 31st March 2021 marks the threshold of the transitional period. After that date, the Greek government expects that the companies that hold the temporary licenses will either apply for the new ones or exit the Greek market. When the bid procedure concludes, there will be given a 2 month period for the examination of the applications before the official announcements.

There is news for the Greek players, too, as the taxation on winnings will change. With the new regulatory framework, the players will be subjected to the following taxes: for winnings up to €100 there will be no tax, for €101 – €1,000 a 10% tax will apply while for €1,001 and above the percentage will be raised to 15%. Furthermore, a new service named the Digital Player Account will be created. By using this service, the players will be able to define their self-exclusion limits and other player protection-related aspects.

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