For years online gambling was the most troubled corner of the Greek gaming market. Law No. 3037/2002 banned all electronic gaming, so online operators worked in what was effectively a grey market, while land-based casinos and betting shops kept trading successfully. Under Laws 2206/1996 and 3139/2003, casino gambling was limited to nine licensed brick-and-mortar casinos, and sports betting, land-based slots and the national lottery were reserved for the Greek Organisation of Football Prognostics (OPAP).
The turning point came in 2011. Law No. 4002/2011 gave the 24 online operators already active in the market transitional licenses until a new legal framework was in place, and it created the Hellenic Gaming Commission (HGC) to supervise gambling. The HGC required operators’ websites to use the .gr suffix, drew up a blacklist of companies operating without a license and introduced a range of other restrictions.
The Greek Minister of Finance proposed the long-awaited framework in 2018, and Parliament ratified it in 2019 as part of the Invest in Greece package of laws designed to attract investors. This Gambling Reform Act built on Law No. 4002/2011, set new tax rules, allowed transitional license holders to offer RNG casino games and introduced new betting rules and limits:
- Games may only be offered to players aged 21 and over.
- A three-second spin limit applies to slots.
- The maximum stake in any game is €2.
- The maximum prize per gaming session is €5,000.
- The largest permitted jackpot is €70,000, which heavily restricts progressive jackpot games.
- Sports bets can pay out up to €500,000.
- Slot advertising is restricted to gambling websites and strictly controlled.
Greek Gambling License Types
Greek licenses are organized by gambling vertical.
Land-based casinos
- Simple casino license: issued for 15 years, with a 10-year renewal.
- Resort or integrated casino license: issued for 30 years, with a 20-year renewal.
Land-based betting and lottery
Licenses for land-based sports betting shops and the lottery are granted to OPAP, which holds a state-funded monopoly.
Online gambling
The new law recognizes two online licenses: the online casino license and the online betting license. Interim license holders had until March 31, 2020 to decide whether to apply for a permanent license, and the Commission opened to new applications on October 1, 2020. The number of applicants is not limited, and one company can hold both an online casino and a sports betting license.
Why the Greek Market Appeals
- Scale: HGC data put gross gaming revenue at over €1.3 billion in 2019, placing Greece among the fastest-growing markets in Europe.
- Several revenue streams: operators can hold online casino and sports betting licenses at the same time.
- Lower license prices: the Gambling Reform Act cut prices sharply, from €5 million to €3 million for online betting and €2 million for online casino gaming.
- Longer terms: licenses now run for seven years instead of the previous five.
- Tax order: corporate tax was reduced to 20% and, importantly, is applied before GGR taxes.
- An EEA market: a highly regulated market inside the European Economic Area with considerable room for growth.
Requirements for Applicants
- Permanent residence or a registered establishment in Greece or another EU member state.
- No convictions for criminal activities or felonies, including financial, sex or drug offences.
- Servers located in Greece and connected to the HGC, as required by Article 30 of Law 4002/2011.
- Payment of all due costs and compliance with any requirements the HGC sets.
License Costs and Taxes
| Item | Amount |
|---|---|
| Online casino license | €2 million |
| Online sportsbook license | €3 million |
| Application fee | €10,000, non-refundable |
| Tax on gross gambling revenue | 35% |
| Corporate tax | 20%, applied before GGR taxes |
| License validity | Seven years |
Player winnings are taxed as well:
- Winnings up to €100 are tax-free.
- Winnings up to €500 are taxed at 15%.
- Winnings above €500 are taxed at 20%.
How to Apply
First choose the license you need. Then send the documentation to the Hellenic Gaming Commission for evaluation, including certificates of non-conviction, the source of funds, the company registration and the location of your servers. The application fee payable to the HGC is €10,000 and cannot be refunded.
We help operators prepare and file their HGC documentation and set up compliant operations for the Greek market.
Ongoing Costs
Beyond the license price and the corporate and GGR taxes, which are clearly high, there is no annual fee. Renewing a license costs the same as the original issue.
Exploring the Greek market? Contact us or email sales@igamingsoftwaresolutions.com.
