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Greek lottery and betting monopoly OPAP claimed nearly €4b of this turnover, while other lotteries contributed €458m and the Athens racetrack handled a mere €41m. The nation’s nine casinos generated spending of €1.582b, essentially flat from 2016’s €1.577b while revenue came in at €253.3m. But the casinos managed to hold fast despite casino visitation falling 4.4% year-on-year to 2.45m and the total number of gaming options (slots, tables, terminals, etc.) falling 3.46%. Online sports betting turnover was nearly as vast as the terrestrial gambling total, with the 24 companies that continue to operate under Greece’s so-called ‘transitional’ permits handling €5.28b last year, up from €5b the year before, while online revenue was a comparatively modest €280.6m. Greece still hasn’t given those 24 operators any firm timeline for when the government will get around to issuing its permanent online gambling licenses. Whenever this license derby gets underway, interest is expected to be keen, despite the proposed 35% tax on online gambling revenue (and the odd outrageous back-tax demand ).
For the original version including any supplementary images or video, visit https://calvinayre.com/2018/08/24/business/greek-online-betting-turnover-2017/
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Belarus gives go ahead to online gambling It’s often very difficult to know what to think about Belarus. In the same week that the country launched a new crackdown on independent media and journalists , President Aleksandr Lukashenko has nodded through a new law opening the country up to online gambling. The law, put forward in July by Sergei Nalivaiko, the minister for taxation, legalises and regulates online gambling, and will allow companies to use Belarus as a base for online casinos. This will be crucial given that access to international gambling sites which do not base their servers in Belarus will be blocked. Online casino licences will only be granted to operators that deposit funds to a designated account, which will be used to cover any winnings or tax payments should the venture fail. Tax authorities will also have remote access to the site and all casinos will have to be connected to a special payment system for the monitoring of money flow. Mr Nalivaiko said that he expects to raise over five million euros from online gambling taxes in the first year. His original draft law also included a proposal to set up a state-run online casino. It remains unclear if that will go ahead. The country’s move to legalise online gambling follows a raft of recent legislation which signalled a real shift in the country’s outlook. Laws covering cryptocurrencies and the digital economy have helped propel the country to the forefront of tech innovation in emerging Europe, while Belarus also last month extended the period visitors from most countries can stay visa free to 30 days, providing a huge boost for its fledgling tourist industry.
For the original version including any supplementary images or video, visit https://emerging-europe.com/news/belarus-gives-go-ahead-to-online-gambling/