Last year, Greek players bet over €7bn (a 27 per cent increase on 2017 figures) on online gambling, generating a GGR of €391m. Tis was a 37 per cent increase on previous year GGR figures and has taken over the casino sector GGR of €246m in 2018. Meanwhile, the tax rates are expected to net the government an extra €73m from the online sector.
licences back in 2011 can continue to operate until March 2020. Any that fails to submit a new application in time must cease operations within a month of the new law.
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Operators cannot take part in Greek promotions, but online affiliate marketing partners can register with the HGC for a fee of €1,000.
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Continued operation of RNG games (such as slots) is due to continue. Te proposed prohibition of the RNG casino games caused great controversy and the threat of a legal challenge against the ban.
Te Greek online gambling market has been booming. A trio of operators, Gambling Malta (Stoiximan), Bet365 and Sportingbet, dominate the market and currently there are 15 active online operators among the 24 transitional licences. Stoiximan was recently acquired by OPAP.
Last year, Greek players bet over €7bn (a 27 per cent increase on 2017 figures) on online gambling, generating a GGR of €391m. Tis was a 37 per cent increase on previous year GGR figures and has taken over the casino sector GGR of €246m in 2018. Meanwhile, the tax rates are expected to net the government an extra €73m from the online sector.
Online gaming, and the dominance of the OPAP VLT sector in the market, has kept the Greek gambling market buoyant. Te local casino market on the other hand has dropped by 2.4 per cent.
Te gambling reforms are part of an Invest in Greece package and aimed at boosting the country’s economy. It will simplify the process for investors looking at the environment, urban planning and land use planning, reduce red tape and speed up procedures for investment.
It will also include labour reforms allowing companies to opt out of certain collective wage
agreements and allow local government authorities to outsource labour to private companies. Te proposals have been a source of controversy prompting strikes in the country, which saw ferry and railway services disrupted last year.
THE GAMBLING MARKET
Te Greek gaming market is controlled and regulated by the independent administrative authority, the Hellenic Gaming Commission (HGC), which regulates and supervises the gaming sectors.
Te HGC was originally set up in 2004 and in 2011 was renamed the Hellenic Gaming Commission and assigned additional powers relating to the supervision and compliance inspection of amusement games.
Gambling turnover peaked in 2010 to around €8bn. By 2015 it had dropped to about €5.6bn and in 2017 (latest data) gambling turnover
NEWSWIRE / INTERACTIVE / MARKET DATA P105
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