Gambling Advertising Unleashed in Greece

08/16/2011
By Tommie ClarkGoogle

 

In an attempt to increase both advertising revenue and casino competition, the Greek government has allowed casino gaming websites unrestricted advertising access to any form of media, even TV.  The Greek politicians, who are presently trying to deal with a major economic crisis, are looking desperately for any avenue to increase tax revenue.  Lately, they passed e-gaming legislation aimed at that goal.

 

The new legislation allows operators to advertise freely before they have even concluded their online casino licensing.   The hope is that this will cause a serious advertising war between the various operators; this will be a boon for the Greek economy.  The revenue from the taxes placed on the operators is expected to be quite large.  During the waiting period that is to last six months, EU licensed operators who obtain or apply for a Greek license will pay 30% of their gross profits to taxes.  Players will have to pay 10% of their winnings to taxes.

 

The control committee appointed to supervise these matters is not yet active.  When the committee becomes active, the advertising war is on.  There are voices of discontent about the recent legislation.  Sites like betting exchanges do not benefit from the advertising deregulation.  One exchange has complained to the EC on the matter.  Though the firm said that they were satisfied with the beginning stages of the new law, they wanted to see Greece fall in line with standard EU practice.

 

The recent moves made by Athens have sent shockwaves around the online casino industry.  RGA chairman John Coates said that his organization would continue to work together with the EU and Greece in order to make sure that a proper, fair competitive environment is preserved while partially state owned OPAP enters the European market.  “Ensuring an equitable and competitive market place involving private operators and the part stat owned OPAP is also an important factor,” Coates said.

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