Greece has been trying for several years to reorganize gambling and also to legalize online casinos. New rules for online gambling have now been described in the Greek Official Gazette. Bet, win and spin time limits have been set. In addition, advertising for the games is largely prohibited.
Home » News » Greece: New details on the planned gambling law
Across Europe, some countries have a lot of need to take action on gambling legislation. The Greek government had already recognized in 2019 that gambling is becoming increasingly popular in Greece. For example, in 2017 and 2018, stakes in online gambling increased 39%. This was a serious problem for the Greek government, especially as there are no Greek gambling licenses for online casinos. The companies therefore do not have to pay any taxes for the gambling offer. A circumstance that they wanted to change back then. At that time, specific plans for the granting of the Greek gaming licenses were given.
The licenses are limited to 7 years according to the current draft. A license for online betting should cost 3 million euros. An online casino license should only cost 2 million euros.
The Greek government had already recognized in 2019 that online gambling cannot be prohibited. As part of the reform of the gambling laws, it has now been decided in favor of strict conditions for the range of games on offer. The stakes in the game, the time it takes to spin a roller and the winnings are to be severely limited in Greece in the future.
Bet limit of 2 euros and win limit of 5,000 euros
According to the new rules, which the Greek state has now published as a draft, RNG games are to be heavily regulated. This refers to games with a random number generator. This includes all slot machines and machines for table games.
The game rounds must last at least three seconds. In addition, you can only bet 2 euros per round. That is the maximum limit. Furthermore, a player may only win 5,000 euros per game session on the machine. In addition, a win limit for all casino games is set at 70,000 euros.
You have to be able to set your own limits
Online players must also be able to choose their own deposit, loss and time limits. The gambling provider must send a warning to the players when they exceed 80% of their limit.
The gambling operators must have the money that is held in the player accounts. Any deficits between the operator and the player must be compensated within three days.
There will be a system of self-exclusion for both gambling and marketing communications. In both cases, players should be able to freely choose how long they should be excluded from gambling or receiving marketing information.
Comprehensive advertising guidelines
Advertising for gambling is severely restricted in Greece. The slot machines should not be advertised at all. Companies that advertise Greek gaming providers must sign a “cooperation agreement” with the licensees. This should contain the calculation methods as well as the type and time of the money paid for the services. Licensees must inform the Hellenic Gaming Commission (actually: Επιτροπή Εποπτείας & Ελέγχου Παιγνίων – EEEP) of the signing of these agreements.
Social media advertising is generally permitted. However, it must be ensured that the advertising is only aimed at people who are older than 21 years. In addition, marketing must not be aimed at minors. This also applies to the use of characters that may appeal to young people and children. Websites with gambling content are also not intended to show adolescents or children playing. Likewise, gambling must not be staged as a transition from adolescence to adulthood.
Furthermore, the advertising must not convey a “positive image”. Showing game winnings, showing games of chance for a good cause, or as a profit without tax deduction is also prohibited. Furthermore, the advertising company may not make unfounded statements about the chances of winning.
Nor is it allowed to advertise that one can predict the outcome of a game of chance or influence it in any way.
All advertisements must include references to The Hellenic Gaming Commission and the minimum age for gambling in Greece (21 years).
Small restriction in the area of betting
Companies with the appropriate license can offer and place bets on real events from a “recognized” organization. But you can also organize bets on virtual sporting events and “other events of a type that are suitable for placing bets”. In that case there is a maximum profit of 500,000 euros per bet.
The plans in Greece to regulate gambling are becoming more concrete. It remains to be seen when the plans can actually be implemented. Actually, the intention was to finally pass the law in 2018. Much has been delayed there too.