Greece Pushes for Fast Track Regulation of Online Gambling: US Politicians Pay Attention

Written by:
C Costigan
Published on:
Greece Online Gambling

Greece needs money.  Greece needs online gambling.  And the USA is in the same predicament.  We compare the two.

The troubled nation is looking for ways to boost its broken economy.  Enter legalized online gambling.

A report on the website notes that the activity could be fully legalized in Greece as soon as this coming Friday August 5. 

Perhaps the US politicians can learn a thing or two from the means in which this piece of legislation is expected to pass.  Greek legislators are looking to attach the online gambling bill to a must-pass finance bill.  Haven’t we in the United States been down this path already?  Oh yes, 2006, passage of the Unlawful Internet Gaming Enforcement Act (UIGEA) and its attachment to the must-pass Port Security Act that nearly everyone signed off on.

250*250 BIG DEAL 1

This week’s debt bill in the US will result in a bipartisan committee set up to report on recommendations by the end of November.  Potentially, another debt-related bill could be passed during the lame duck session on December, which this past year was pretty active.  Could we see legislation regulating online poker attached to such a bill?  Perhaps. 

As for Greece, the proposed tax hikes are likely to scare most operators away.  PokerStars is already balking at the French tax policy as it pertains to online gambling.  Greece’ would be the highest taxation for the industry in all of Europe. 

How high?

A 30% Gross Profits Tax (GPT) on operators, this percentage is higher than any of the other current regulated markets situated in France, Italy and the planned new markets within Spain (20-25%) and Denmark (20%).

A 10% “players’ tax” on winnings seen by the body as a further disincentive to gamble with a Greek licensed operator.

There is a lucrative online gambling market in Greece nonetheless. 

- Chris Costigan, Publisher

Gambling News

Legalized Sports Betting in the US: The Good the Bad and the Ugly

Legalized Sports Betting in the US: The Good the Bad and the Ugly

John Holden, Assistant Professor at Oklahoma State University, has written a must read paper on the legal sports scene in the United States one year after the US Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA). 

You're Not Welcome: Illinois Bill Seeks to Prevent Entrance by Draftkings, FanDuel

Language in a current version of bill floating around Illinois legislature seeks to keep out US legal sports betting titans FanDuel and Draftkings, both of which have absolutely cornered the NJ market.  The Cook County record suggests there will most certainly be legal repercussions.

Sports Betting Forums: Top Discussions

We tap into the hottest discussions on the sports betting forums and social media.  Hot now: Caesars-ESPN deal not celebrated by all, Bitcoin exchanges and gambling, Illinois sports betting bill keeps out Draftkings, FanDuel?

Current Odds Preakness Stakes, Eurovision 2019

Saturday 11 am EST - Eurovision odds: Netherlands -140, Australia 6/1, Switzerland 8/1, Sweden 16/1, Italy 20/1, Iceland 20/1, Russia 28/1 - Preakness Stakes odds: Improbable +245, War of Will 5/1,  Alwaysmining 8/1, Anothertwistafate +750, Bourbon War 8/1, Owendale 10/1, Win Win Win 17/1

How Do Bookies Pay Their Customers?

How Do Bookies Pay Their Customers?

Do bookmakers in the United States pay their customers by meeting them in person and slipping cash into their hands in some dark alley?  Today's technology makes it easy for bookies to pay clients utilizing other methods.  It's to a point where they hardly even have to meet face-to-face.