Greece is a country in the Southeastern part of Europe at the southern end of the Balkan Peninsula. It neighbors with Bulgaria, North Macedonia, Albania to the north and Turkey to the northeast of the country. Formed as a kingdom in 1832, it has become a republic since 1974 through a referendum. Sports betting in Greece is growing every day and more and more sites are being launched with great promotions. Here, you will find information on the development of gambling laws, top betting sites in Greece, and much more.
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Table of Contents
Summary of Key Events
Legal History of Gambling in Greece
Looking at the history of gambling laws in Greece one can only say that it is as interesting as the country itself. Following is a chronologic table of the major legislation that has informed the research:
- 2002: This was because Law 3037/2002 prohibited all forms of gaming through the internet or other forms such as gambling and video games.
- 2011: Law No. 4002/2011 provided for the transitional licenses for 24 online operators and the Hellenic Gaming Commission (HGC) was created.
- 2013: This led to the CJEU declaring OPAP’s monopoly as unlawful and hence, more changes in the regulation were made.
- 2016: For all interactive operators, Greece raised the GGR tax to 35%.
- 2019: Law 4635/2019 completely changed the licensing procedures and opened the doors for everybody to get renewable licenses.
- 2020: The submitted document is the Greek Ministry of Finance’s draft gaming regulations to the European Commission.
Regulatory of Betting Sites in Greece
The regulation of the gambling activities in Greece lies under the Hellenic Gaming Commission (HGC) which was formed in 2011. The HGC is the regulator of the land based and online gambling operators in the country. It helps to follow all the rules and regulation of the country concerning gambling and protects the players from fraud.
Prohibited and Permitted Bets
However, it is important to understand the allowable and the prohibited forms of betting in the case of Greece.
- Permitted Bets:
- Online betting and brick & mortar betting on sporting events
- Online/land-based casinos and their games.
- Lottery games
- Poker
- Prohibited Bets:
- It is also allowed to place bets on events, which are not associated with sports, for instance, political elections.
- Unlicensed gambling activities
Gambling Licenses and Fees
The process of getting a gambling license in Greece is a quite lengthy and requires certain fees to be paid.
- Online Casino License: €2 million for seven years. ; The grant is €2 million and is expected to be used for seven years.
- Online Sportsbook License: €3 million, for a period of seven years.
- License Renewal Fees: €2m for the casino license while €3m for the sport book license.
Tax Rates:
- Lottery tax rate is at 35% on gross gambling revenue (GGR).
- The taxation rate on corporation profits is at 20%.
- The taxation of the player winnings is at 15% for the amount that ranges between hundred Euros and five hundred Euros, and then 20% for any amount that is above five hundred Euros.
Best Betting Sites in Greece
Online betting in Greece is quite extensive and it might be quite tricky to know where to start, but the following are some of the best sites to try out.
Betandyou:
Betandyou
Serves a variety of sports and has markets.
In many events live streaming is used
Competitive oddsUp To £120 + £30 Free Bets
20Bet:
20Bet
Rich deposit bonuses and free bets are a part of the service.
Intuitive user interfaceUp To £150 + Recharge £150 Free Bets
Mr. play:
Mrplay
Huge numbers of pre-match and in-play betting opportunities are always available to the customers.
A variety of sports that are covered include; Football in Europe and NBA basketball games.Up To £100
Significant Occasions in Greek Sports
Sporting excellence has long been a part of the Greek culture, and many of the nation’s accomplishments in this area have influenced the development of the betting sector.
- UEFA Euro 2004: The Greek National football team emerged victorious over the Portuguese, this being one of the biggest surprises in football.
- FIBA World Championship 2006: The Greek national basketball team, came in second place which is an affirmation of the fact that the Greeks are a force to reckon with in basketball.
- Athens 1896: The first modern Olympic Games were held in Athens this country has been involved in every single Summer Olympic since the event’s inception.
Celebrating Greek Sports Stars
Greek athletes have reached the highest level and have become stars that motivate betters and sports enthusiasts.
- Spyridon Louis: It won the first modern Olympic marathon in 1896 and made her a national hero.
- Fani Halkia: Claimed the gold at the 2004 Athens Olympics in the 400m hurdles.
- Stefanos Tsitsipas: The Greek tennis player won the 2019 ATP Finals and this boosted Greece’s position in the tennis map.
Gambling Laws of Neighboring Countries
Knowing the gambling laws of Greece neighboring countries will be beneficial to add more information.
Bulgaria:
Is controlled by the State Commission on Gambling that work with licensing of both online and live casinos.
Turkey:
Tighter gambling laws with limited legalization of gambling opportunities that are mainly through state-owned lotteries and sports betting.
Albania:
Recently banned almost all other forms of gambling and state-run lotteries are the only permitted type of gambling.
Conclusion
The Greek gambling market is quite diverse and has a lot to offer both players and betting companies. Regardless of your level of experience in the betting world, knowing the legal aspects of gambling in the country, famous betting sites, and the history of sports can help you a lot. To get the best help and receive special offers from Greece’s leading betting sites, sign up now and become a member!
FAQ of Betting Sites in Greece
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