Greece legalized land-based gambling establishments back in 1994 after passing Law 2204. The law allowed for nine gambling licenses for land-based casinos to be awarded. At the moment, there are a total of 8 brick-and-mortar casinos in Greece, attracting the attention of thousands of tourists. Statistics show that a large chunk of the gross gaming revenue (GGR) comes from land-based casinos.
When it comes to Internet gambling, things are not so straightforward. In 2002, the country introduced a blanket ban on all forms of electronic gambling in a bid to clamp down on illegal gambling practices. But the law failed to differentiate between online gambling, offline gambling, and online video games, prohibiting Internet cafes from offering even video games.
For years, the provision of gambling services in Greece was subject to a monopoly held by the state-run sports betting and lottery platform OPAP, which was established in 1958. But the European Union scolded Greece for its restrictive gambling laws, stating that the country’s gambling monopoly violates the EU’s trade agreements.
Legislators finally succumbed to the pressure from the European Union. In 2011, Law № 4002/2011 also known as the Gambling Act was passed, legalizing online gambling and allowing the issue of temporary licenses for online gambling and sports betting. The government granted 24 gambling permits to reputable operators such as William Hill and Betfair.
But one year later, the Greek Ministry of Finance came up with a proposal to monopolize the online gambling market, and licensed operators were urged to leave the market. As a result, many operators brought legal challenges, alleging that Greece’s gambling laws violate the EU’s policies on free trading. In 2013, OPAP’s monopoly was ruled illegal by the Court of Justice of the European Union.
The same year, Greece sold its remaining 33% stake in OPAP to Emma Delta, finalizing OPAP’s privatization. However, this did not affect OPAP’s gambling monopoly. In 2014, a Greek court announced that OPAP’s gambling monopoly is in line with EU laws as it aims at fighting organized crime.
Between 2013 and 2016, Greece witnessed a significant drop in revenue. It was reported that the gambling industry generated only €60,000 in revenues for that period. In 2016, the government announced plans to revamp its gambling regulations and open the market for foreign operators. In 2019, Greek lawmakers approved the new online gambling regulations, and a year later, Greece’s gambling authority, the Hellenic Gaming Commission, issued a public invitation, allowing operators to apply for licenses.
A crucial thing to mention is that bet exchange sites are not legal in Greece.