Greece may have online gaming licenses on the horizon

[The Buzz]

At present, the plan appears to be for the Greek government to establish a system where foreign operators apply via an international tender to obtain a remote gambling license. The basic duration of Greek online gambling licenses will be five years, with it possible to renew by paying a premium to the government.

Read more from Online Casino Reports: http://www.onlinecasinoreports.com/a...he-horizon.php

[Alex BGS]

Will see how it is possible at that rate of anti-offshore movements of the EU governments.

[WagerPod]

I can see hefty tax on these gambling laws - Greece will do anything for additional revenue at the minute.

[Aris1985]

Interesting! I wanted to set up an affiliate a while back as i speak Greek fluently but i was advised not to, maybe now is the time to get started in this space!

[Gutterbrainbeats]

The Greek finance minister Yanis Varoufakis has repeatedly stated that online gaming could be a key revenue source. It may be quite optimistic, if impossible, for Greece to generate up to €500m a year in tax revenue (most probably in 5 years time), but still for the 1st time, openly, the Greek online Gaming regulation has been mentioned in such important documents of reforms.

Most probably, companies would be required to pay a €3m licence fee (5 years), 30% GGR (quite "ouch") and then pre-pay a €1m minimum tax per year, which would be deducted from their final tax accounts.

It is reported that the Greek finance minister is looking to implement this new gaming reforms as quickly as possible, but there is still some work to be done over various important licencing/financial details, so it seems impossible that the new Gaming Law will be in line in Q4 2015/Q1 2016.

[Triple7]

€ 600.000 license fee, 30% tax (minimum € 1 mio) sounds like quite a lot and not so interesting for a lot of online casino's. We'll see when this will be live. One thing is sure: they need the money!

[Renee]

€ 600.000 license fee, 30% tax (minimum € 1 mio) sounds like quite a lot and not so interesting for a lot of online casino's. We'll see when this will be live. One thing is sure: they need the money!

Greed. It's understandable that they have a large debt, but they'd get rid of it quicker by lowering the tax rate and the fees to get a license because more casinos would be inclined to get one. Another one that will just turn out like Italy.

[Gutterbrainbeats]

The debt is large, the debt/GDP ratio is even bigger, but still 600k+30% tax per year is the plan.
It would be interesting to see whether there will be "casino only" or "poker only" licenses.