In a period that Greece is facing one of the most severe financial crises in the Eurozone’s history, the Remote Gaming Regulations would absolutely generate a part of the required funds that Greece owes to the International Monetary Fund and EU.
In a period that Greece is facing one of the most severe financial crises in the Eurozone’s history, the Remote Gaming Regulations would absolutely generate a part of the required funds that Greece owes to the International Monetary Fund and EU.
On the 2nd August 2011, senior Greek ministers held a debate on a psoposed Remote Gaming legislative regime. However, the EU has already notified that the Greek draft proposals are not in compliance with EU laws so the European body could start infringement proceedings and take the government to the European Court of Justice.
An indication of the main weak points follows:
* a 30% Gross Profits Tax (GPT) on operators is higher than any of the other current regulated markets in Europe
* 10% “players’ tax” on winnings is high and a discouragement for online players
* forcing licensed gaming operators to use only Greek financial institutions might be an infringement of EU freedom of movement of capital
* a registered office in Greece might directly oppose freedom to provide services
* the ban period of up to six months to provide remote gaming services to Greek consumers before obtaining the respective license
* the exemption of the state Gambling Monopoly, OPAP can be regarded as discrimination.
It is expected that when the Remote Gaming debate is finalised and approved by the Greek Parliament, the law could be fast-tracked and combined with the government’s finance bill.
In a period when Greece is facing one of the most severe financial crises in the Eurozone’s history, the Remote Gaming Regulations would absolutely generate a part of the required funds that Greece owes to the International Monetary Fund and EU.The legalization of remote gambling in Greece in conformity with EU Law would offer financial relief to the country.
