Greek Online Gambling: bail out or take out

Greek Online Gambling: bail out or take out

Greek Gaming Commission, the organization in charge of providing licenses and establishing regulations for gambling in Greece, is now facing problems with the EU concerning the costs and conditions attached to permits required by gaming firms to trade in the Hellenic country.

 

Some gambling companies, like BetFair and Bwin, have already raised legal concern of permits and legislation being inconsistent with the European law. The Greek Government looking for ways to raise payment of taxes on historical revenues from the gambling industry is among the financial issues at hand.

 

Since July of 2012 there has been a concern with the German online sports betting regulations, according to which a tax is issued on stakes made on sports events, establishing a fee of 5% from gross winnings.

 

The European Commission said in October of 2012 that there had been no proposition of establishing a central and common EU-wide legislation on online gambling.