Greece’s online gambling regulations have cleared their first European Commission (EC) hurdle as applications for new licenses flooded in just under the wire.
April 1 marked the end of the EC’s three-month standstill period for Greece’s new online gambling technical specifications, which seek to bring order to a market that has known only regulatory chaos for nearly a decade. A few more EC hurdles remain but these could be wrapped up by mid-June, after which new licenses could be issued.
Accordingly, Greek media reported Tuesday that all companies holding so-called ‘transitional’ online gambling licenses had submitted their applications for new online permits by the March 31 deadline. The Hellenic Gaming Commission (HGC) previously assured these operators that they could continue their Greek-facing operations past April 1 provided they submitted their paperwork on time.
Greece’s new licensing regime is a two-tiered affair with sports betting permits costing €3m and a license spanning casino and poker products available for €2m. Each type of license is valid for seven years.