Gambling market in Greece is estimated to be worth about 5 billion euros or 13.6 billion dollars in tax revenue that represents only part of Greece's large and mounting government debt. The country's finance ministry recently stated that changes to Greece's gambling laws are imminent hurtigt.Reuters news agency reported on Internet gambling laws online gambling the regulatory framework will soon be submitted to public consultation, "Greece has so far refused to change its position on the monopolistic gambling with the current bill that OPAP would maintain its monopoly status on sports betting and lottery ticket sales through 2019, licenses to operate Internet casinos and poker rooms in Greece will be made available by the government.
the government debt in Greece remained at about € 310 billion and a fine of € 31,500 per. day were charged for the Greek government by the European Commission in 2003 because of violation of EU free movement of services principper.Indtægterne from licensing and taxation of the online casinos would go to pay down debt incurred in the IMF, the EU funded redninge n of Greece, during the financial meltdown.
Ioannis Spanoudakis, CEO of OPAP announced that OPAP would be best able to take advantage of new gambling laws in Greece because it already owns over 5,000 sales agents in the country. The government, which owns 34% of OPAP, saw a 11% drop in income for the first quarter of 2010. The original plan called for 1.3 billion euros Online Bingo to be generated from new gaming licenses, royalties and taxation in 2012, if the Greek Government does something to quickly change the current scene. The longer take law makers, the more it will cost the nation in accumulated debt. In this case, time is money and timing is everything ..