The newly-formed Hellenic Gaming Commission (HGC) has awarded gaming licenses to software provider Play’n GO and igaming operator Bet365. This move comes not long after Betsson also received their license from the new Greek regulatory system. Play’n GO becomes the first gaming supplier to be licensed by the EEEP, while Betsson and Bet365 will be among the first to offer igaming and betting in the country under the new rules.
The Greek gambling regulatory system officially opened up in October 2020 after the country’s parliament passed a new gambling reform bill in 2019. While the new bill legalized igaming in the country, it means operators will need to apply for a license and abide by strict controls in order to accept Greek players.
What Do the New Regulations Mean for Gambling in Greece?
The gambling reform bill was introduced to make the laws surrounding gambling in Greece, particularly on online platforms, clearer. Both online sports betting and casino gaming will now be legal, although there are restrictions in place, especially for the operators themselves.
Operators and suppliers must adhere to a variety of strict operating conditions under this system. Online slots, which were originally going to be banned completely, are now capped at €2 per spin. In addition, there will be a three-second minimum spin and a maximum win of €70,000 each round. Meanwhile, operating licensees must also pay a 35% gross gaming revenue tax.
Magnus Olsson, head of sales and account management for Play’n Go, said:
“Regulatory changes are a constant in the global gaming industry, and we welcome the new clarity provided by the Hellenic Gaming Commission in their latest framework.
We will now work closely with our partners to ensure that their Greek operations are compliant with the new regulations.”
Olson went on to say that the supplier’s capacity to tailor games to local laws will help it stand out in the market.
“We take immense pride in our games. But we also love to bring more to the table too.
The rigor in our approach to both compliance and game development ensures that our partners can rely on us to deliver entertaining content that is ready for all of their players to enjoy from the first day of global release across multiple markets.
“But to truly enjoy a gaming experience, players must feel safe. And that’s why we’re happy to tailor our titles to ensure they comply with all local rules in regulated markets all over the world.”
After the gambling reform bill passed, the government also established the Hellenic Gaming Commission as a means to impose these rules on operators and gambling suppliers. The new regulations are good news for players in Greece, who will now be able to play on regulated sites.
—
Editor’s Note: Dear reader, you’re currently going through an archived news article from our Casino Industry News section that might be outdated. For the newest developments within the igaming industry, kindly visit our homepage.