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    Greece pushes for fast track regulation of online gaming | QuadJacks Poker News

    Posted by Quad Jacks August 2, 2011

    As of today Greek politicians have been pushing to get online gambling regulated, this could be done as soon as Thursday August 5th. This will be fast-tracked and attached to the Greek goverment’s must-pass finance bill as long as it is not voted against

    Greek politicians could agree to regulate the country’s online gambling by as soon as Thursday. The gambling law within Greece is being debated as of 5 and a half hours ago (7:30pm) up until Thursday August 5th. Once the debate has ended, and as long as the Greek Parliament does not vote against it, the law could be fast-tracked and attached to the government’s must-pass finance bill.

    Greece have twice been bailed out after facing financial crisis’s, last month they secured a €109bn bailout deal in addition to the €110bn rescue loans agreed in 2010 . Greece previously agreed to generate a part of the required funds it owes to the EU and the International Monetary Fund by legalising online gambling and by selling its 34% stake in state gambling monopoly OPAP.

    Greece’s finance minister Evangelos Venizelos last week said his government may backtrack on its original decision to sell its full stake in OPAP by the end of the year and instead generate revenues from the monopoly in order to reduce public debt.

    The RGA has been pushing Greek ministers and decision makers and the organisation’s main issues surround the following:

    Taxation

    A 30% Gross Profits Tax (GPT) on operators, this percentage is higher than any of the other current regulated markets situated in France, Italy and the planned new markets within Spain (20-25%) and Denmark (20%).

    A 10% “players’ tax” on winnings seen by the body as a further disincentive to gamble with a Greek licensed operator.

    Different age limits for on and offline gambling

    The participation of online gambling is limited to a minimum age of 21, compared to offline gambling (casinos) of OPAP are limited to a minimum age of 18.

    The requirement to have a permanent establishment within Greece

    The requirement that operators must have a registered office or permanent place of establishment in Greece runs directly counter to the freedom to provide services.

    The second to last point discussing age limits in my opinion is pretty ridiculous if anything these limits should be the other way around being online gambling set to a minimum age limit of 18 and gambling within a casino to be set to 21, or both age limits should be set to 18 as it is within the United Kingdom and many other countries within the European Union.

    In reality this situation benefits Greece a tonne if they do indeed regulate online gambling as the money generated through taxes will help them to pay off a lot of the public debt that Greece have.

    Source: http://www.egrmagazine.com/news/1683727/greece-pushes-for-fasttrack-regulation.thtml

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