Slotegrator Paves The Way To Greece
On july 5, 2021, the greek gambling commission (hgc) issued 15 online gambling licenses – the became the first permanent licenses issued after the 2002 law, prohibiting gambling online games. Now slotegrator provides all its services in the country’s market, and in the new article talks about the development of the online gambling industry, as well as the current rules and requirements for licensees.
Greek authorities banned all forms of online gambling in 2002 and began issuing temporary licenses in 2011. After the ten years of observation of the market, which dominates the state monopoly, the greek games commission finally began to issue regular licenses and focused on the development of gambling business in the country.
Due to the crisis of 2020, the market has suffered a lot, since it is most of its part of betting. In the spring, were sports contests were canceled and transferred, total revenues fell by 40% compared to the previous year. Unexpected stopping of the rapid growth of past years.
However, inside the industry itself, everything is not so bad. While the sports bets, which made up most of the market, fell, the online casino took part of the demand. The smaller brands offered poker and other forms of gambling significantly increased their income, some rose two or three times.
In general, even a pandemic did not interfere with the growth of the online gambling sector. According to official statistics of hgc, ggr in online gambling reached 540 million euros in 2020 compared with 437 million euros in 2019. Given a 35% tax rate on gross income from online gambling, creating an environment in which the industry can flourish – in the interests of the government.
New regulations are not always a pleasant news for companies, because you have to revise business processes and adapt to change. However, in the case of greece, the rules adopted will have a positive effect on all industry players, since now we are not limited to the provision of services, and then – more. Read about changes in the greek market in the updated article of slotegrator on the link.