In Greece, the implementation of a new online gambling regulation is getting closer. According to the Greek Hellenic Gaming Commission (HGC), all previous holders of a temporary gaming license had applied for permanent approval by the end of March.
With the new gaming law, the Greek government wants to provide legal framework for largely unregulated online gaming. However, companies have to pay a multi-million dollar amount to purchase a license. A sports betting license costs EUR 3 million, while EUR 2 million is due for the approved operation of online casinos and online poker. Regardless of the type of gambling, providers should also pay 35% tax on their winnings. According to the government, the validity of the permits is also to be limited to seven years.