Online Gambling In Greece Regulations And Law
Greek gambling has a long history that began in antiquity and continued to grow until it was a significant part of the regional economy. Currently, the majority of people who gamble in casinos in the country are tourists but online gambling in Greece is growing on users and populairity.
Greece has built gambling facilities for tourists, and the right people are in charge of the tourism and gambling industry and also the love for sports in Greece made the country for sportbooks online.
As was already noted, gambling is legal in Greece as long as it takes place in a casino setting. There are now 10 legal casinos operating within its borders. The majority of them are found in the islands, particularly Rhodes and Corfu, two of Greece's most popular tourist attractions.
OPAP, which has its main offices in Athens, was founded in 1958 and went public in 2001. The state used to own the company and have a monopoly on gambling. In 2013, the state sold the remaining 33 percent of the company to the Emma Delta (Emma Capital) investment scheme.
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According to a contract that OPAP has signed with the Greek government, it will have sole ownership of all sports betting, lottery activities, and casino gaming until 2020 and 2030, respectively. As a result, the lottery and sports betting industries are monopolized.
Law 4002/2011 currently governs every aspect of local gaming activities. This is the law, and it specifies the terms and circumstances under which Greek operators may provide all gaming and gambling services.
Greek Law 4002/2011 states that the Hellenic Gaming Commission, an independent administrative body that was particularly constituted, is responsible for supervising, monitoring, and controlling the nation's territory (HGC). It has nine members, all of whom the minister of finance chooses.
The authority's involvement in the local gaming sector is crucial because it is responsible for regulating every kind of gambling in Greece.
Following the passage of the Gambling Act of 2011, international operators were permitted to apply for licenses.
However, due to the lack of clear regulations regarding licensing procedures, there are not many of these corporations eager to operate casino facilities in the nation. Additionally, only outrageous operators are subject to the Greek government's 30% tax rate.
Some international businesses even sued the nation as a result of this increased tax rate. In 2013, the European Union made a bad decision that hurt Greece. The government is now looking into ways to change the laws.
Law 4002/2011 says that HGC has set up the requirements for submitting an application for a license in Greece.
Greece supported land-based casinos with Law 2206/1994. Although there is no explicit definition of gambling in the law, the meaning could be inferred in part from Article 4(1). (a).
Gambling outside of casinos is prohibited, as was already mentioned. Law 3037/2002 even made the practice illegal in 2002. The country's government formally outlaws any electrical, electromechanical, and electronic games offered in both public and private settings on Greek soil under the terms of Law 3037/2002.
The steps that the Greek government has taken are seen as part of their plan to slowly and completely stop the damage that gambling does to minors and people who are more likely to become addicted to gambling.
The nation's government initially strongly opposed online gambling. Greece passed a law outlawing all forms of electronic gaming in 2002 as a result. However, the Law 3037/2002 failed to distinguish between land-based gambling machines and online gambling, web-based video games, or both.
Greece has extremely strict legislation regarding online gambling as part of its attempt to prevent people from becoming gambling addicts.
Greece has been under pressure to open its gambling sector to foreign online gambling firms for a number of years, just like other EU member states.
The complaints of protectionism persist even though the government takes them seriously and significant advancements have been made in the area.
Even though the country's laws have changed and become less strict since then, it is still illegal to play any kind of game in public.
The Gambling Act of 2011 was passed by Greece, theoretically legalizing internet gambling. However, the Act's provisions have not yet begun to be officially implemented, rendering them practically meaningless.
Licensed legal organizations are currently permitted to offer online gambling services in the nation. Such activities may be carried out by companies that are legally incorporated in Greece and have paid earnings taxes on a timely basis.
Only if a specific company has been granted a special license for such activities may it offer games of chance.
The Greek Government gave two dozen temporary licenses to a number of gambling firms in accordance with the Gambling Act of 2011, including some of the biggest and most well-known ones worldwide like Betfair and William Hill.
But the nation still has a tendency to adhere to the monopoly regime that some industries have imposed.
The Greek Ministry of Finance began putting together certain suggestions to help it control the online gaming business in favor of the operator OPAP, which is domiciled in the country. The second one has gotten a lot of bad press and already runs the country's lottery and sports betting markets.
The European Court of Justice's decision has compelled the Greek government to change its online gambling regulations. Until then, Greeks should use the big international sites that operate there and accept Greek players.
Online gambling is legal in Greece, and betting sites can work there as long as they have a license from the Hellenic Gaming Commission (HGC).
In truth, there are quite a few casinos in Greece, both in the major towns and on some of the islands. They are brand new buildings with lots of gaming options. The casinos in Greece, like most casinos across the world, offer gambling along with opulent lodging and recreational amenities.
You might discover that your preferred online casinos or sportsbooks are restricted while traveling abroad. A decent VPN can frequently be used to get around these restrictions. Unfortunately, a lot of online sportsbooks are geo-locked, making it impossible to register or access an account from within particular nations or states.
Greece lacks land-based casinos despite its relative wealth and large number of visitors (approximately 30 million, pre-coronavirus figures*). In Greece, there are just nine legitimate casinos (and more than 100 smaller slot halls).
However, new laws for internet casinos are assisting new users in becoming active gamblers in the gem of the Mediterranean Sea. Are you prepared to begin gambling in Greece?