The gambling industry in Greece has experienced both highs and lows, with online gambling, in particular, often facing difficulties. After the introduction of Law No. 3037, which prohibited any electronic gambling, internet operators found themselves in the shadow economy.
At the same time, land-based establishments and bookmakers continued to operate and thrive. According to Laws 2206 and 3139, the gambling industry was limited to nine licensed land-based casinos, while sports betting, video slot halls, and state lotteries were the prerogative of the Greek Football Prognostics Organization (OPAP). However, players looking for a casino with Greek support can now find such options under the new legislative framework, allowing them to legally enjoy online gambling services.
Then, the Minister of Finance of Greece proposed the long-awaited gambling legislation, which was finally approved by the parliament as part of a package of laws aimed at attracting investors to the country.
The gambling reform law allowed holders of temporary licenses to offer games based on RNG (random number generators), introduced new limits and rules on betting (for example, slot spins must now last at least three seconds), and made several other changes.
As a result, players can now only participate if they are over 21 years old. The maximum bet per round in any game cannot exceed €2, and the cash prize for a gaming session cannot exceed €5,000. Jackpots can reach up to €70,000, which significantly reduces the appeal of progressive jackpot games. In sports betting, the maximum prize is €500,000.
Advertising materials related to slot games must only be placed on gambling websites and are strictly regulated.
Greek gambling licenses can be categorized according to the type of establishments and games. For land-based casinos, the types are as follows:
License for regular casinos – issued for 15 years, with the possibility of a 10-year extension.
License for gambling resorts and integrated casinos – issued for 30 years, with the possibility of a 20-year extension.
There are also licenses for land-based bookmakers and lotteries issued by OPAP, which holds a state monopoly on these forms of gambling.
Finally, online gambling licenses are divided into the following two types:
License for online casinos
License for online bookmakers
Holders of temporary licenses had until March 31 of the previous year to decide whether they wanted to obtain a permanent license. As of October 1, the Greek Gambling Commission began accepting new applications. The number of potential licensees is unlimited, and it is possible to hold licenses for both casinos and sports betting simultaneously.
According to the Greek Gambling Commission, the gross gambling revenue last year amounted to over €1.3 billion, making the Greek market one of the fastest-growing in Europe. The new legislation allows operators to hold licenses for both casinos and sports betting platforms, enabling them to have multiple revenue streams. The cost of licenses was also reduced with the introduction of the Gambling Reform Law: from €5 million to €3 million for online betting and €2 million for online casinos.
Moreover, licenses are now issued for 7 years instead of 5, and the corporate income tax has been reduced to 20%, now calculated before the tax on gross gambling revenue.
Thus, holding a Greek license allows any gambling platform to benefit from operating in a well-regulated and rapidly growing market within the European Economic Area.
In order to operate within Greek territory, gambling operators must meet the following requirements:
They must have either a residence permit or a registered organization in Greece or another EU member state.
The candidate must have no criminal record.
The company’s servers must be located in Greece and connected to the Greek Gambling Commission according to Article 30 of Law 4002/2011.
The potential licensee must pay all fees and comply with all regulations of the Commission.
The cost for an online casino license is €2 million, and for an online bookmaker, it is €3 million. The tax on gross gambling revenue is 35%, and the corporate income tax is 20%. Both licenses are valid for seven years. Winnings above €100 are also subject to tax: 15% for payouts ranging from €100 to €500 and 20% for larger payouts.
The application process begins with choosing the type of license. After that, all necessary documents must be gathered, including proof of no criminal record, sources of income, company registration, server location, etc., and sent to the Greek Gambling Commission for review. Additionally, a licensing fee of €10,000 must be paid.
There are no annual fees for Greek licenses. Only the cost of the license itself needs to be paid, followed by taxes. As for license renewals, they cost the same as the initial issuance.
