Greek Casinos

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The gambling industry in Greece is volatile. With frequent bans, and soon after abolishing of those bans, it has been through it all. The government had a direct interest in the sector through Greek Organization of Football Prognostics S.A {OPAP}. The company was licensed by the government to provide gambling services to Greek nationals. It was 33% state-owned, and thus the government ensured it had a monopoly by handing a 20-year providence license in 2000. This obliterated all competition from land-based to internet casinos, with several suits filed with the E.U regarding unfair competition.

Several raids were conducted to crackdown on illegal gambling across the country. These efforts were somehow successful with land-based casinos but proved a daunting task with online casinos. Since the financial crisis in the early 2010 Greece was hit hardest and had received two bailouts in 3 years. The government passed a bill to allow several firms to conduct gambling to raise adequate revenue. This move proved futile and was later scrapped. The government ensured OPAP’s reputation and the network was raised high enough. In 2013, it sold its entire stake to an investment firm.

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