written and last updated by
Sam Smith at
24 May 2021
Journalist, Editorial Department
The reputable company Betsson has received two licenses from the Hellenic Gaming Commission (HGC) in Greece. The first license will allow the operator to launch an online casino under the local jurisdiction, while the second will enable a sports betting platform. Both licenses are valid for seven years. In the coming weeks, the licensee plans to roll out its flagship brand in Greece.
"We are very pleased to have obtained these licenses and to welcome Greece as the 18th regulated market for Betsson. As in other countries, our goal in this territory is to provide the best customer experience. To enhance our offerings, we are collaborating with some excellent game suppliers and payment aggregators. The Greek market has seen significant growth in recent years, and we see great potential," said Pontus Lindwall, President and CEO of Betsson.
The company stated that its Greek brand will be launched with a focus on meeting the needs of local gambling enthusiasts. A qualified customer support service for the online casino and sportsbook will operate in Greek.
The Greek gaming regulator opened the application process for new online casino licenses in October of last year, following the government's adoption of a new regulatory framework for the industry a year prior.
The cost of a sports betting license is estimated at €3 million, while an online casino license costs €2 million. Each license is valid for a seven-year term, and all licensees are required to pay a 35% tax on gross gaming revenue.
Under current Greek gambling legislation, participants in gambling activities must be at least 21 years old. The regulations also impose strict conditions on online casinos, including a maximum bet of €2 per slot. The maximum payout for a slot machine cannot exceed €5,000, and the limit for jackpot games is set at €50,000.
In related news, Armenia has tightened its laws regarding the advertising of gambling activities.
