Lawmakers in Greece voted Thursday in favour of new online gambling regulations that will see operators fully licensed and regulated for the first time.
The new European Commission-approved regulations will allow gambling operators to secure an online license in Greece for the first time and are designed to channel players to the regulated market while boosting state revenue through licensing fees and taxes.
European operators in the Greek online gaming market are not currently locally licensed but are allowed to operate under a transitional scheme from 2011 that sees them pay local taxes.
The new regulations will require all operators to secure Greek online betting and casino licenses at a cost of €3m and €2m respectively, with the licenses valid for seven years.
Licensed operators will be required to connect their systems to the Greek Supervision and Control Information System for monitoring purposes and non-Greek operators must house a security server in the country.
The new rules also allow existing authorised operators to continue serving Greek players while they secure necessary license approval.