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Greece proposes new online gambling licensing plans

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The Ministry of Finance of Greece has published its much expected and long-delayed proposals to restructure the country’s online gambling field. There is good news and bad news for the 24 gambling operators who have been functioning on “transitional” permits since 2011. The good news first. The 24 operators will get a chance to apply for new licenses. The bad news? They will have to shell out €4million for a new licnese for sports betting alone. For any additional gambling services like there will be an additional licensing fee of €1 million.

According to the new proposals, the new licenses will be valid for five years, and operators must apply for renewal at least one year in advance of the license expiration, with renewal fees equal to the original license fee.

Applicants must submit a deposit of €500k and demonstrate that they hold a license to operate online in another European Union market, along with records of their previous three years of financial performance.

Applications would not be available to any operator whose name has appeared in Greece’s online gambling blacklist in the 12 months prior to submitting their application. Among the most recent additions to the blacklist include multiple brands associated with UK-listed GVC Holdings.

It also remains to be seen whether the unresolved €187m back-tax demand submitted in January to GVC will preclude the company from either applying for or receiving a new Greek license. GVC has put aside money to cover this tax obligation, which it is challenging in court.

Applicants must base their Greek-facing operations’ servers within the country and establish accounts with locally licensed payment processing institutions. Operators must also conduct their Greek-facing business via a dot-gr domain.

The new licensing plan includes a variable tax on online gamblers’ winnings, which are to be withheld by the operator for remitting to the taxman. Winnings under €100 would not be taxed, but winnings above €100 but less than €500 will be hit with 15 per cent tax, while winnings above €500 will be taxed at 20 per cent.

The government’s list of its new online rules do not specify whether it has had a change of heart regarding its original plans to tax operators’ revenue at 35 per cent. Given Greece’s significant unpaid debts to its international moneylenders, it seems doubtful that the government would offer operators any breaks on this point.

The Ministry has opened a consultation into its proposed online regime, and interested parties are invited to submit their proposals, opinions and comments by October 5. Applicants will learn of their acceptance within two months of filing, and the failure to learn of a positive vote will be considered a rejection of their application.

Last month, Greece’s Gaming Supervision and Control Commission revealed that total online sports betting turnover at its 24 temporary licensees hit nearly €5.3b last year, around €300m higher than the previous year. Spending at Greek-facing operators not holding a local license was reportedly worth an additional €5b.

 

Source: calvinayre.com

Source: Latest News on European Gaming Media Network

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Hero Esports Announces Venues for ACL Grand Finals 2025

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Hero Esports, an industry leader and the largest esports company in Asia, has announced its championship venues for the Asian Champions League (ACL) Grand Finals 2025 taking place May 16-18 in Shanghai. The landmark event will transform three of the city’s most iconic venues into battlegrounds for nine premier esports titles, cementing Shanghai’s status as the global esports capital.

The tournament is expected to attract 80,000+ live attendees across three venues, with global broadcasts reaching millions via Twitch, YouTube and TikTok. Participating teams will be competing for a total prize pool of $2 million. Selected ACL winners will earn direct entry to the Esports World Cup in Riyadh, Saudi Arabia—the largest esports event in history due to take place from July to August.

“Shanghai’s selection as our host city reflects its unmatched esports infrastructure and passionate community. By combining elite competition with DreamHack’s festival energy, we’re creating a new blueprint for global esports events,” said Jonny Wang, CEO of ACL.

“This is Hero Esports’ most ambitious project to date. The ACL bridges Asian talents with the world stage while delivering unforgettable fan experiences through cutting-edge production,” said Danny Tang, Co-Founder & CEO of Hero Esports.

The post Hero Esports Announces Venues for ACL Grand Finals 2025 appeared first on European Gaming Industry News.

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Wunderino unveils OKTO.CASH in Germany

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Wunderino, a market leader in the virtual slots games market, has launched OKTO.CASH, the fast and secure cash-to-digital payment solution of OKTO. This collaboration marks a significant step for the payment provider, strengthening its footprint in the German market and bolstering its status as a frontrunner in cash-to-digital payments across Europe’s online igaming sector and beyond.

By integrating OKTO.CASH, Wunderino aims to accommodate players who prefer cash transactions yet seek the convenience of online gaming experience. Through OKTO’s extensive network of over 14,000 retail outlets—including gas stations, Lotto locations, kiosks and convenience stores—users of Wunderino can now instantly deposit cash to their online Wunderino accounts. This streamlined approach delivers a fast, mobile-first, user-friendly and secure top-up method ideally suited to the needs of the German market.

Romain Guilbert, Head of Operations & Payment Product at Wunderino, said: “At Wunderino, we continually seek out payment solutions that enhance our players’ gaming experience. By introducing OKTO.CASH, our users can deposit cash at familiar retail locations, giving them more flexibility and control. In a fast-paced and competitive environment, offering cutting-edge, mobile-first options is vital. OKTO’s strong track record in digital payments internationally made them the perfect partner, and we’re excited to add this new cash-to-digital payment method.”

Mikhail Ovsepyan, Head of DACH at OKTO, said: “OKTO has built its reputation on delivering payment solutions that meet the needs of modern, mobile-centric players who value speed, security, and simplicity. Our embedded payment technology fully integrates with Wunderino’s platform, allowing instant deposits without users ever leaving the app or site. It’s the ideal solution for those wanting the benefits of digital while still using cash. We’re delighted to partner with Wunderino, and this collaboration signals our commitment to driving innovation in iGaming payments and beyond.”

The post Wunderino unveils OKTO.CASH in Germany appeared first on European Gaming Industry News.

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Helma Lodders Steps Down as Chair of VNLOK

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Helma Lodders, who has held the position of chair at the Licensed Dutch Online Gaming Providers (VNLOK) since its inception in 2021, has announced her decision to step down. Lodders’ term expires and she has chosen not to extend it. Current board member Björn Fuchs was unanimously elected as the new chair on the recommendation of the board. He will combine this role with his employment as Chief Digital Officer at Fair Play Casino.

In the run-up to the opening of the online gambling market, Lodders helped shape the trade association. Under her leadership, VNLOK has grown into a reliable discussion partner for politics, government, media and social organisations involved in gambling policy. In addition to representing the interests of the members, her efforts have also helped to place the extensive illegal gambling market high on the political and social agenda.

Helma Lodders said: “Since the establishment of VNLOK, I have fulfilled the role of chairman with pleasure. It was a period of political and social turbulence. At the same time, I have always kept the goal in mind; to work on a safe, reliable and controllable market with the right care for vulnerable players. Now that my term is ending, the time has come to pass the baton. I thank my fellow directors for the trust they have placed in me and have every confidence in Björn Fuchs as my successor.”

Björn Fuchs said: “I regret the departure of Helma Lodders. The board is grateful for the way in which she has given substance to our association with her skills and strength in an honest manner. The board therefore expresses its appreciation for the efforts that Helma has made since the foundation.”

“I look forward to my new role as chairman of VNLOK with pride and confidence. I will get started with great enthusiasm and, together with the members, will commit myself to the importance of a well-regulated online gambling market,” Björn Fuchs said.

The post Helma Lodders Steps Down as Chair of VNLOK appeared first on European Gaming Industry News.

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