The Greek gambling industry, along with foreign companies, held its breath waiting for a new licensing regime for online casinos. At the legislative level, the activity of both land-based and online casinos is regulated by Law No. 4002/2011 of 2011, according to which only a limited number of operators (24 companies in total) gained the right to offer their services on the Greek gambling market. Online Gambling n Greece - aret Stud 3 A number of operators, including well-known international brands, withdrew from the market or ceased their advertising and marketing in Greece. In July 2013 a blacklist of outlawed online gambling sites was circulated to Greek ISP providers.

Further requirements published in Greece’s approved new gambling bill, will require affiliate marketing partners to register and pay a €1,000 licensing fee with the Hellenic Gaming Commission (HGC).

This October, following a year of deliberation, the Greek Parliament progressed final amendments of its new gambling bill, which will introduce a modern regulatory framework for online gambling services.

Serving as lead regulatory authority, the HGC is set to monitor and process all licensing application for Greece’s newly regulated markets with regards to operators, technology suppliers and marketing partners.

A new regulatory framework will see operators pay €3 million for permits related to sports betting and casino games.

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For marketing incumbents, the Greek government has sanctioned HGC to act as a registry for authorised marketing partners, in which licensees will only be approved to conduct Greek consumer-facing promotions with affiliates approved by the regulatory body

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The 24 online operators issued with temporary Greek licenses in 2011 will be allowed to continue operating under these licences until 31 March 2020, but will then be forced to reapply for new certification. However, those operators ‘black-listed’ in the year prior to licensing won’t be eligible.

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As expected, the Greek government has retained its 35% GGR tax charge but repealed a section of the 2011 gambling law that allowed online licensees to deduct this tax payment from their 20% corporate tax obligations.