(AsiaGameHub) – By: Elena Rostova
Greece’s illegal gambling market is a ticking economic time bomb. It drains €1.6 to €2 billion annually from the economy. Direct tax losses hit around €600 million. In 2024, 9.5% of Greeks—799,000 people—used unlicensed platforms at least once. Current rules have failed to curb this threat.
The Ministry of Finance’s omnibus bill aims to fix this. It expands the Hellenic Gaming Commission (EEEP) from 80 to 110 staff, hiring IT and cybersecurity experts. Banks must block transactions linked to unlicensed operators. Organizers face 10-year prison terms and fines up to €800,000. Promoters get fines up to €50,000. Online winnings are taxed per session: first €100 free, up to €500 at 20%, above at 30%. Consultation runs till June 15.
Compliance will be the make-or-break factor. Banks and ISPs must enforce transaction blocks strictly. The EEEP’s new special investigative powers will help. If all measures are implemented fully, the illegal market could shrink by 40% within 18 months.
Author bio: Elena Rostova, a public policy expert specializing in compliance assessments for governments and sovereign wealth funds.