Maximum stake increased by Greek government for online casinos
Since the country launched online gambling last year, Greece has witnessed a steady increase in the amount of interest in the industry, attracting thousands of new customers on a weekly basis.
In addition, the market has also seen more and more operators both apply for and be awarded licenses in the country and this is set to only increase over the next few months as it bids to gain a foothold in southern Europe.
With the market continuing to gather pace, it will no doubt be one to watch, while a substantial amount of revenue has been generated for the country via taxable income from operators - a much-needed boost for the economy.
Commission makes change after one year
Following an audit to the market by the Hellenic Gaming Commission (HGC), after just one year, it has been revealed that the regulator will increase the maximum stakes for players gambling at operators which have licenses in the country.
It means that players can now stake up to ?20, instead of the previous ?2 limit on slots and table games, meanwhile, the government has also sanctioned the doubling of jackpot games from ?70,000 to ?140,000 - a major statement.
Other changes imposed by the HGC include online casinos requiring to lower their spin durations for games, from two seconds down to three seconds.
Greek market continues to increase in size
Now with in excess of 15 operators that have an online gambling license in the country, Greece will certainly be one country to keep an eye on over the next few years.
It is estimated that an annual turnover of over ?1 billion can be achieved over the next three years, indicating that there is strong confidence about the potential, from analysts and the authorities.
Flutter Entertainment-owned PokerStars is one of the major global operators that is currently thriving in the country, while the HGC also approved two other operators in April, albeit the lesser-known Brobet Limited and Elladix Limited.
There could also be a number of new operators that form in the country and there are many advantages for companies and their potential employees, with Greece offering an attractive climate and lifestyle in addition to a low cost of living.
Increasing the maximum stake for players could also see bigger operators apply for licenses in the country, which can further help to raise its profile in the wider online gambling community.
Popular casino games such as roulette and blackjack could see an increase in participation across operator sites because of this, where players can easily double their stake winnings if they are lucky, with favourable odds for certain outcomes.
Written for onlinecasinosrealmoney.co.nz by Adiela de Bruyn on 16-06-2022