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  1. #1
    The Buzz's Avatar
    The Buzz is offline GPWA Gossip Hound
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    Default Online gambling licenses in Greece to cost up to 5 million euros

    Online gambling operators in Greece will now have to pay up to 5 million to obtain a sports betting and gaming licence under new regulations that were announced on Tuesday.

    From iGaming Business;

    Published by the Greek Ministry of Finance, the regulations state that an internet sports betting licence will cost 4m, but operators will need to pay an additional 1m to also offer other online gaming services.

    Companies seeking online licences will not only have to deposit 500,000 as part of their application, but demonstrate they also hold a licence in another country in the European Union.
    Licences will run for five years, with operators required to renew their licence at least one year before the expiry date.

    However, those companies that have been blacklisted in Greece within the past 12 months will not be considered for a new licence.

    This applies to GVC Holdings, which in January revealed a subsidiary operating under an interim Green licence had received a tax audit assessment of 186.8m. The audit relates to activities from 2010 to 2011, a period in which the business in question was owned by Sportingbet prior to its acquisition by GVC in 2013.
    Read more here: http://www.igamingbusiness.com/news/...ew-regulations

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    Cash Bonus (12 September 2018), celena (12 September 2018)

  3. #2
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    Cash Bonus is offline Private Member
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    The fact that licences will run for five years is great, but paying an additional 1 million euros is absolutely not. Even just the cost of living has gone up considerably and most folks unfortunately can’t afford the simplest things in life that we take for granted anymore these days.
    Last edited by Cash Bonus; 12 September 2018 at 3:17 pm.

  4. #3
    matthewt's Avatar
    matthewt is offline On Vacation
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    Only the established casinos will be getting a license from Greece. Do you know how long it takes for a casino to come up with 5 million?

  5. #4
    Triple7 is offline Private Member
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    Other jurisdictions are having such a load of (bs) rules that it will cost even more than that anyway. Without knowing the details, it sounds pragmatic of Greece.

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    matthewt (17 September 2018)

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