Lucrative State Spin-off From Greek Online Gambling Regulation

LUCRATIVE STATE SPIN-OFF FROM GREEK ONLINE GAMBLING REGULATION

19th March, 2011 at 02:57:22
Source: http://www.azonlinecasinos.com

Licensing and levies estimated to provide millions annually

The draft law submitted by the Greek Finance Ministry to regulate the gambling market (see previous reports) will raise in the region of Euro 700 million reports capital.gr.

The Finance Ministry says aside from regulating the market the draft seeks to ensure player protection and raise revenue for the state, with turnover of illegal gambling currently estimated at Euro 4 billion annually.

New licenses for online casinos, poker rooms and other forms of gambling in a regulated Greek market in 2011 have been estimated to provide Euro 500 million while revenues from gambling levies have been predicted at Euro 200 million annually.

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