Good first half for Greek online gambling operators
News on 2 Oct 2018
News on 2 Oct 2018
The Greek news publication ekathimerini.com reported Monday that the Greek online gambling market has enjoyed a buoyant first half to this year thanks to the World Cup football in June-July, with the 24 “temporary” Greek betting licensees declaring total turnover of Euro 3.23 billion and gross gaming revenues of Euro 182.8 million in January-June.
The 24 licensed service providers posted turnover of Euro 5.28 billion and GGR of Euro 280.6 million over the whole of last year. H1 2018 turnover was up 24 percent on H1 2017, while GGR increased 30 percent.
Likewise, an additional 30 percent was also paid in taxes on GGR. The 24 licensed companies paid Euro 98.2 million to the state over the whole of 2017, while they paid Euro 64 million in the first half of this year alone.
Despite Greek team’s absence from the World Cup, betting in the quadrennial soccer tournament attracted great interest, ekathimerini reports, while another factor that has boosted online gaming this year is the government’s clear intention to issue definitive licenses to online providers of games of chance.
Licensed access to a market with such potential comes at a price; the new 5-year licences will carry a fee of Euro 4 million each for online betting and another Euro 1 million for other online gambling verticals. In addition the operators will be paying a tough 35 percent of GGR in tax, and punters who win more than Euro 100 will have to pay a tax of 15 percent, rising to 20 percent for wins over Euro 500.
News on 2 Oct 2018
The Greek news publication ekathimerini.com reported Monday that the Greek online gambling market has enjoyed a buoyant first half to this year thanks to the World Cup football in June-July, with the 24 “temporary” Greek betting licensees declaring total turnover of Euro 3.23 billion and gross gaming revenues of Euro 182.8 million in January-June.
The 24 licensed service providers posted turnover of Euro 5.28 billion and GGR of Euro 280.6 million over the whole of last year. H1 2018 turnover was up 24 percent on H1 2017, while GGR increased 30 percent.
Likewise, an additional 30 percent was also paid in taxes on GGR. The 24 licensed companies paid Euro 98.2 million to the state over the whole of 2017, while they paid Euro 64 million in the first half of this year alone.
Despite Greek team’s absence from the World Cup, betting in the quadrennial soccer tournament attracted great interest, ekathimerini reports, while another factor that has boosted online gaming this year is the government’s clear intention to issue definitive licenses to online providers of games of chance.
Licensed access to a market with such potential comes at a price; the new 5-year licences will carry a fee of Euro 4 million each for online betting and another Euro 1 million for other online gambling verticals. In addition the operators will be paying a tough 35 percent of GGR in tax, and punters who win more than Euro 100 will have to pay a tax of 15 percent, rising to 20 percent for wins over Euro 500.
