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Gambling Business in Greece

Gambling Business in Greece

Greece is the most prominent island country of Southern Europe, where almost all forms of gambling are permitted. The development of gambling establishments in the country began at the start of the 20th century, but massive construction of the gambling business began very recently. Due to a difficult economic condition, the government decided to develop this business on a larger scale to develop tourism and encourage visits all year round. Anyone 21 and older can use land and online casinos. For example, gamblers looking for decent online offers will try out Stoiximan casino offers, which are hunted by locals and foreigners.

All facilities offering gambling services are licensed by the Hellenic Gaming Commission (EEEP). National legislation prescribes the main terms and conditions of offering gambling services. There are nine legal casinos in Greece now. They are located in big hotels or resort places and are serving mostly foreigners. The biggest of them — Regency Casino Mont Parnes — is situated in the city of Acharnes. According to statistics, nearly 3 million people have participated in Greek casino gambling.

The country also has a major lottery and betting firm, OPAP SA. A portion of its stock was once state-owned, but this has since transferred to a private holding. OPAP SA holds a license for the installation and operation of tens of thousands of gaming machines for offline usage through retail shops. The license is effective over a long time.

Online gambling is permitted in Greece. But now the market is dominated by OPAP SA betting company. Despite the fact that such a monopoly is unlawful as determined by the European Court of Human Rights, the company operates to date. The gambling market of Greece is going through huge change and should adopt new rules of competition providing fair equality between all players. The government announced that it would open the market to foreign operators and begin issuing licenses for online gambling. Many sites already accept Greek players, and there have been no prosecutions of players and site blocking reported.

Greek Gambling Laws

Greek gambling is regulated at the national level by law establishing the general regulations and terms for organizing and operating gambling business.

The following are permitted games:

  • Poker
  • Online betting
  • Sports betting (Propo, PropoGoal, and Pame Stoixima)
  • Games in casinos (blackjack, French and American roulette, baccarat, punto banco, craps)
  • Sports games and other electronic sports games
  • Video lottery terminals
  • Bingo
  • Lotteries (scratch cards, national lottery, and popular lottery)

OPAP SA owns exclusive rights to operate and manage number lotteries (e.g., Lotto, Proto, Joker, Extra 5, Super 3, and Movie) and sports betting.

Under current law, gambling is allowed only in official licensed establishments. Gambling by other individuals elsewhere is liable to criminal prosecution. All Greek nationals who want to gamble are obligated to have a personal "player card." Admission to gambling dens is banned for individuals below 21 years of age.

Gambling has been defined under Greek law as follows:

  • Randomness: Chance is a determining factor in the result of a game. All games of chance must be based on probability and may involve random number generators, mechanical devices, or drawings.
  • Financial stakes: They are determined as the ability of the player to put any amount of personal money at risk with the aim of gaining direct or indirect benefit. This would also apply to free-to-play games.

All operators are required to acquire proper licenses and certifications to offer their services, either in physical premises or online.

Regulators of the Gaming Industry

The Hellenic Gaming Commission (EEEP) is an autonomous administrative authority that grants licenses and permits to gambling operators. EEEP also regulates, supervises, and monitors gambling activities in Greece. The commission consists of nine members appointed by the Ministry of Finance. The chairperson is reappointable once while other members are reappointable once as well. Half of the commission, except the chairperson, is changed every two years to ensure continuity.

Greek Game Software Developers

Greece has achieved notable success in game development. Intralot, a Greek firm, has been identified as a prime provider of integrated gaming systems, transaction processing solutions, contemporary game content, and ancillary services.

Intralot is now one of the largest lottery operators globally. The company operates in dozens of nations and has successful lottery ventures in various parts of the world. It is renowned for offering all the equipment, software, and technology needed for the Russian state lottery.

Prospects for the Gambling Industry in Greece

The Greek gaming industry is currently experiencing problems. The government is already involved in developing the industry for the purpose of generating revenue to the state budget. New legislation on gambling and a new regulatory system for operators are being introduced. The state monopoly OPAP will be compelled to share the gambling market with other players on the market, including foreign companies.

New operators must obtain a special license. In addition, all the gaming machines and their respective games, as well as the establishment in which they are housed, must be certified by the EEEP. The government also approved a new system of taxation that aims to improve revenues from gambling. Internet operators that are operating in Greece are currently taxed on their gross revenue.

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