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Online Gambling Approved in Greece as Part of Reform Bill

Written by:
Alistair Prescott
Published on:
Aug/06/2011
Online Gambling Greece

The Government of Greece has approved online gambling in that struggling nation, permitting Euro licensed operators to commence business there as part of a reform bill.  (το νομοσχέδιο για τα τυχερά παιχνίδια – Ελλάδα)

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The measure was passed by a simple voice vote after three days of the debate on the legislation, according to the Wall Street Journal.

EU-licensed operators entering the licensing process in Greece will pay 30% GPT and players a 10% tax on winnings during a six-month transitional period, according to eGaming Review Magazine.

Europe’s biggest betting exchange, Betfair, praised the move. 

“The Greek government’s decision to recognise the licenses held by EU betting operators during the transitional phase is a positive step. Betfair will continue to engage with the Greek Government during this time, working on elements of the law which we believe could be brought more into line with EU principles."

That company had earlier filed a lawsuit against the Greek government after it had initially decided to exclude betting exchanges from the measure. 

Until the licensing process is complete, Greek banking institutions are not likely to permit deposits or withdrawals related to Internet gambling transactions.

- Alistair Prescott, Gambling911.com

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