..

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)

Welcome Bonus 125x125

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

Gambling News

First Things You Need to Know About Starting Your Own Online Sportsbook

First Things You Need to Know About Starting Your Own Online Sportsbook

The sports betting industry is, for sure, one of the biggest and most profitable you will ever find in the modern world. Betting on sports, casino games, horse racing, and other gambling products, have become one of the most popular hobbies and fun daily activities for millions and millions of people from all over the world, and if you can get in on it and run your own operation, then you will most probably start getting a good piece of the pie. 

Gambling Company Stocks Tanking, Calls for Ban on Team Sponsorship Deals

Gambling Company Stocks Tanking, Calls for Ban on Team Sponsorship Deals

Investors appear concerned over Penn National's “free” customer acquisition through the Barstool brand, and DraftKings spend to acquire its customers.

Sports Betting Set For Explosive Growth in 2021:  CEOs Share Outlook

Sports Betting Set For Explosive Growth in 2021: CEOs Share Outlook

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: MGM Resorts International (NYSE: MGM), FansUnite (OTC: FUNFF) (CSE: FANS), fuboTV (NYSE: FUBO), and DraftKings (NASDAQ: DKNG).

Can Weed Help Build Atlantic City?

Can Weed Help Build Atlantic City?

Rebuilding the iconic Atlantic City Boardwalk to enable it to survive future severe storms; improving the look of the city’s main downtown business districts; helping people in underserved communities, and embracing the “blue economy” of the ocean are among recommendations from a state-appointed panel studying ways to improve the seaside gambling resort.

Poker Player, Sports Bettor Jailed for 14 months in $1million Tax Evasion Case

Poker Player, Sports Bettor Jailed for 14 months in $1million Tax Evasion Case

A Connecticut sports bettor and part-time poker pro has been sentenced to 14 months in prison for evading taxes on more than $1million of poker gambling winnings.  He must also pay back more than $800,000.

Syndicate