Greece’s Online Casino Landscape: Overview and Regulatory Framework for Casino Online Greek Operators
Overview of Greece’s Gambling Market
The gaming industry in Greece has undergone significant changes over the years, with a shift from traditional land-based casinos to online gambling platforms. https://posido-casino3.com According to estimates by the Hellenic Gaming Commission (HGC), there are approximately 12 million Greeks who participate in some form of betting or gaming activities annually.
Greece’s entry into the European Union in 1981 brought about several changes, including the liberalization of gaming markets and increased international cooperation. In 2012, Greece amended its Constitution to allow for casino development outside existing zones, paving the way for a wider expansion of land-based casinos. However, online gambling remained largely unregulated until recent years.
Regulatory Framework
In response to growing public concern over unlicensed online operations, the Greek government introduced new legislation in 2019 aimed at regulating online gaming activities. Law 3745/20 (Government Gazette A’ 155) established a clear framework for online casino operators:
- Establishes the Hellenic Gaming Commission as the regulatory body responsible for issuing licenses.
- Imposes strict requirements on license applicants, including company registration in Greece and proof of adequate financial resources.
- Mandates player protection measures such as data encryption, anti-money laundering policies, and adherence to responsible gaming principles.
To obtain an online casino license, operators must meet specific conditions:
- Hold a valid land-based or remote gaming license (if operating from within the EU)
- Demonstrate technical expertise
- Show sound management practices and sufficient financial resources
Types of Online Casino Licenses
Two categories of licenses are available for online casinos in Greece: Class 1 and Class 2. The former covers casino operators, allowing them to offer games such as slots, roulette, blackjack, video poker, and poker rooms, while the latter permits sportsbook providers.
License requirements and fees vary between these two categories:
- Class 1 license: Aims primarily at online casino services.
- Fees for license application: $7,500 (Class A) $10,000 (Class B)
- The terms of each license type have varying duration; the Class A is valid from one to three years, while the B is two to five.
- Class 2: Focused on online sportsbooks and betting services.
