Betsson obtains Greek betting and gaming licences

The Betsson.gr brand will offer sports betting, casino, live casino, and virtual sports in Greece via the online gaming and betting licences awarded by the Hellenic Gaming Commission (HGC). Betsson has received two of the new HGC licenses to operate in Greece; one license for games of chance (casino, slots, poker) and another one for betting (sportsbook), both of which are valid for an initial period of seven years.

“We are really pleased to receive these licenses and to welcome Greece as Betsson’s 18th locally regulated market,” said Pontus Lindwall, president and chief executive for Betsson.

“As in other markets, our vision for Greece is to offer the best customer experience possible and we have partnered with some great gaming suppliers and payment providers to augment our offering.

“The Greek gaming market has experienced significant growth over the past years, and we see a lot of potential.”

Betsson said its Greek brand will be launched with a product offering specifically developed with local players in mind, as well as Greek language dedicated customer support services in the Greek language.

Greece’s gambling regulator opened the application process for its new online gaming licences last October after new regulations were passed by the authorities in October 2019.

The licences are priced at €3m (£2.5m/$3.4m) for sports betting and €2m for games and run for seven-year terms. Licence holders must pay a 35% gross gaming revenue tax rate.

Per the bill passed last year, the 24 operators that were granted temporary licences in 2011 were allowed to continue operating until 31 March 2020, then had to reapply.

Play is restricted to those aged 21 and above. The regulations also impose strict conditions for online casino, including a €2 maximum slot stake, with prizes capped at €5,000, and a €50,000 limit for jackpot games.