The new Greek Gaming Law in on, now it heads to the EC for approval

[Gutterbrainbeats]

Last night, the Greek Government voted for the new Greek Gaming Law.


As said before, the Ministry of Finance amended its online gaming taxation plans by introducing a 30% tax upon the GROSS PROFIT, instead of 6% upon the Τurnover.
Maximum 50 online gaming licenses will be granted, with a license duration of 5 years.



All Gaming companies' websites are obliged to have a “.gr” ending and operators must be based in Greece. The license cost hasn't been revealed. The full range of Gaming products will be licensed (Sports betting, Poker, Casino, Bingo, Horseracing etc).

The Ministry kept the payout ratio to a minimum of 80%.

The law can be found here, unfortunately it’s in Greek, but there are plenty of companies out there who can make a professional translation for you.
http://www.hellenicparliament.gr/Nom...3-66062d37531f

[JoeAdams]

Why do they still need to conceal its cost?.. And another thing, what would happen after 5 years upon expiration of the license?..

[SylviaK]

Hi!
Please keep in mind that this is only a draft law, it hasn't reached its final stage yet. At that point we will know the cost of licenses (it has been suggested that there will be a minimum price from which bidding will begin), as well as other important details like action upon expiration, limitations, etc.