- April 20, 2022
- Posted by: Peter Efstathiadi
- Category: Greek Gambling Industry
To operate a casino legally in any part of the world, the person must obtain the proper license. The same is the case with Greece; a person needs to be careful if he is planning to get a casino license as a beginner. Here is the guide to obtain an online gambling license in Greece
There is not just a single license type available for the players. They mainly have the choice between the two types of licenses. The first kind of license is primarily for online gambling, including sports betting and online casino games, and the other is the gambling activities available on the internet.
Facts on obtaining the license
If the person plans to start an online casino, he must have the licensing details to take it easily by fulfilling all the required conditions. Let us discuss obtaining a license in Greece for online betting and casino:
- Mainly the license of the online casinos is for five years. Extension of the license is possible if the casino provides the detail of the extension to the higher authority before the expiry.
- The main rule of the license is that the person does not have the right to transfer the legal authority to another person. In the starting period, the person who will be the owner will only remain for the rest of their life.
- As per the latest rules for obtaining the casino’s license, the person has to submit a sum of $10000 as the license fees to the Hellenic gaming commission. However, even there might be variations in the amount based on the commissioner’s law.
The requirement to obtain a license in Greece
- The operators that have the registration outside Greece must have a server located in Greece.
- The manager of the casinos must not have any form of criminal record as it will affect the licensing procedure.
- An additional sum of money of 500000$ needs to be submitted by the person in the banking institution to get Greek betting and gaming licenses.
- There are also taxation policies if the person runs online casinos in Greece. The appropriate options include:
- Operators have to pay 35% of the gross revenue.
- The gamblers must pay the players the tax calculated on the progressive scale.
Hopefully, it is clear that a person can quickly obtain a license to open online casinos. But then, he needs to just know the registration process.