Reforms made by Greek Government for Gambling Rules

Financial reforms are made by the Greek government with specific reference to the rules pertaining to online gambling. This is in place for the next round of audit by the IMF.  The Greek parliament made a partial u-turn on a few controversial aspects of the draft proposal. A proposal completely absent from the final legislation is the blackout period of 6 months. This legislation scrapped all rules related to limiting licenses. Clive Hawkswood, the chief executive of RGA appreciated the positive changes but mentioned about some areas of concern yet to addressed.  He talked about the establishment of a competitive and equitable market place which may involve OPAP and private operators.

EU licensed operators can now work freely in Greece. They can advertise in any online and offline sources of media, even television. Operators of private gambling can target Greek customers through offshore serves as per the new legislation. They can do so in the 6-month transitional period.

Once licenses are granted, they will be needed to locate servers within the country.  The operators licensed by EU will be required to pay 30%GPT during the transitional period while players will pay 10% tax on their wins.  This transitional period starts when the Control Committee under the new law is formed.

A stake of 34% in OPAP is held by the Greek government.  This legislation makes efforts to improve the status of OPAP unlike the previous finance minister.  OPAP will be receiving an exclusive license this time. Through this, OPAP can operate 35,000 video lotto machines which Greece will set up to promote gambling liberalization.  OPAP will get to operate 16,500 machines directly and subcontract the rest.

This clearly indicates that the government tries to uplift the value of OPAP to ensure that it gets a better price.