Greek authorities banned all forms of online gambling in 2002 and began issuing temporary licenses in 2011. After ten years of monitoring a market dominated by the state monopoly, the Greek Gambling Commission has finally started issuing permanent licenses to fully legalize gambling and is focusing on developing the country's gaming business.

From strict prohibition to full legalization

In an effort to fight organized crime, the Greek government banned all forms of online gambling in 2002, believing that a total ban would be more effective than partial regulation, but now Greek authorities are admitting their mistakes and saying a ban is never the answer.

The ban even affected online video games (including chess), causing public concern and appeals to the European Commission and the European Court of Justice

In need of cash after the global economic crisis of 2008, the Greek authorities decided to supplement the budget with gambling revenues and started issuing partial licenses. A law passed in 2011 repealed the 2002 law and allowed temporary licenses to be issued to gaming and sports betting operators.

However, many operators left the market after a year when it became clear that "legalization" amounted to a state monopoly. OPAP, the state lottery and bookmaker, dominated the market and provided government revenue. However, the situation was not favorable for gaming business operators.

Both local operators and international bookmakers have filed numerous legal complaints alleging unfair practices that violate EU standards, particularly regarding the freedom to provide services. In 2013, the Court of Justice of the European Union declared the monopoly illegal. However, a Greek court upheld OPAP's monopoly, saying it was a necessary measure to combat gambling-related crime under EU law.

A step towards full legalization

As in any industry, too much government involvement severely hampers the growth of this or that sector. Between 2013 and 2016, the gambling industry generated around €60,000 in tax revenue, and in 2016 the government announced plans to develop a more effective regulatory framework.

Finally, in September 2020, the Hellenic Gaming Commission (HGC) invited potential gambling operators to apply for a license under the new rules. The commission proposed two types of licenses: for online betting and for all other gambling activities.

The rules are similar to UK legislation. Among them some limits: the slots have a maximum bet of 2 euros, a minimum spin time of 3 seconds and a jackpot limit of 50,000 euros. + Advertising policy has also been adopted. For example, slot machines can only be officially advertised on one website, and gambling establishments can only work with registered branches. Registration is carried out by HGC and costs 1000 euros.

On October 12, 2020, the commission announced that it would require a letter of guarantee from an applicant for an online gambling license. In January 2021, the HGC simplified the eligibility application process for suppliers and affiliates, allowing them to submit their initial application online, provided physical documentation is also submitted later.

Finally, in June 2021, following a two-week anti-money laundering consultation, the HGC announced that Rome had issued 15 online gambling licenses on 5 July 2021, the first permanent licenses issued since the 2002 total ban.

These licenses have been in the works for a long time: the licensing scheme was announced in 2019, but the debut of the system has been delayed several times. A later launch was expected in February 2021, after previous delays. Critics of Greek gambling laws have consistently pointed out that instead of encouraging foreign operators to enter the Greek market, the law is more likely to discourage them from opening businesses.

Greek gaming market today

As in other European markets, the Greek gaming sector was expected to grow dramatically. In 2018, the volume of the online sector reached 391 million euros, which is 37% more than in 2017. The increase is related not only to the FIFA World Cup, which significantly increased the number of bets, but also to the lifting of certain banking restrictions. The Greek government received 137 million euros in taxes, which is 37.4 million euros more than last year. In 2019, the market grew again as expected and experts expect further growth in the future.

2020 started as another favorable year, but due to the covid crisis, the market has been hit hard. In the spring of 2020, when sports events were canceled and postponed, the total revenue decreased compared to the previous year.

However, the processes in the industry itself have stabilized and moved forward since the end of 2021. Sports betting, which made up a large part of the market, was declining, with online casinos demanding some concessions. Smaller brands offering poker and other forms of gambling saw significant increases in revenue, with some doubling or even quadrupling revenue.

In general, even the pandemic has not prevented the growth of the online gambling sector. According to official HGC statistics, online gambling GGR reached €540 million in 2020, up from €437 million in 2019. It is the development and legalization of online games that filled the Greek budget amid the pandemic crisis.