Betsson Receives Greek Online License

18. regulated market for Betsson

As part of the new online licensing system in Greece, Betsson is one of the first concessionaires. Following this, the flagship brand Betsson.gr will be launched on the Greek market in the coming weeks. Betsson has received a license for both online casino and online sports betting. The Greek gaming authority HGC (Hellenic Gaming Commission) gave the operator the green light after a comprehensive review.

The provider will cover a broad portfolio in Greece via the Betsson.gr brand: This includes online slot machines , live casino games and sports betting. The licenses initially have a term of seven years and cost three million euros (sports betting) or two million euros (online casino). To do this, the license holder must pay a tax rate of 35 percent on gross gaming revenue.

For the provider, Greece is now the 18th regulated European market where you can be active online with a Betsson Casino. Pontus Lindwall, President and Managing Director of Betsson, recently expressed his joy at the opportunity to welcome numerous Greek gaming customers to the provider's digital gaming venues. The company will offer a range that is specifically tailored to the needs of Greek consumers.

According to Lindwall, Betsson aims to offer the best gaming experience possible in Greece. For this reason, a customer service in Greek will also be opened. In addition, we have joined forces with some great gaming providers and payment service providers, which significantly expand the provider's technical capabilities. The Greek gaming market has experienced significant growth in recent years and has enormous potential, said the CEO in a press release.

Other licensees: bet365 and Play’n GO

The HGC has licensed three companies - the other two concessionaires on the newly regulated Greek market are the world-renowned operators bet365 and Play'n GO . Both recently welcomed the authority's decision and thanked them for receiving the license: Legal changes are a constant in the gaming industry, says Magnus Olsson, head of sales at Play'n Go. In this sense, we welcome the new clarity.

In addition, both operators stated that they want to work closely with Greek partner companies and authorities to ensure that all regulations are adhered to. You are able to adapt the entire game portfolio to the new regulations and thereby stand out from other providers.

The strictness of compliance with legal regulations is primarily intended to signal reliability and a sense of duty to the Greek authorities. But players also need to feel safe in order to really enjoy the gaming experience, says Magnus Olsson. They therefore want to bring entertaining and globally proven game titles onto the market that still comply with all the rules.

The Greek gaming authority HGC opened the application process for the new online licenses last October after parliament approved new regulations for the gaming sector in November 2019. According to the bill, the 24 operators who first received temporary licenses in 2011 were allowed to continue operating until March 31, 2020, after which they had to reapply for a Greek license. It remains to be seen whether further licenses will be awarded in the near future.

Five point plan on the Greek market

The providers that are licensed in Greece are not only subject to high license fees and taxes, but also a comparatively strict set of rules: Online slot machines - which were originally supposed to be banned in Greece - are limited to 0 S$per spin, with a minimum spin time of three seconds and a maximum win of 70,000 euros per spin.

The strict regulations are strategically justified by the HGC: Firstly, the measures ensure safe competition between market participants. Secondly, the safe participation of players is guaranteed. Third, attracted investors. Fourth, the state's revenue increased. And fifth, player protection improved.

In addition to online gambling, Greece is also expanding its land-based casino business: in November 2020, the US provider Mohegan received the highly competitive Hellinikon casino license. The location is the airport of the same name in Athens, which has been closed since 2001 and is being transformed into a casino for over eight billion euros. This is one of the largest urban construction projects in Europe, in which a number of companies are involvedigt.

Betsson receives Greek online license