BUSINESS

Greece abandons plans for “black period”

TAGs: remote gambling association

no-black-period-in-greeceGreece has reportedly dropped proposals for a controversial “black period” from the online gambling bill that was presented to parliament last week.

The “black period” would have meant that companies wanting to operate in the newly regulated market would have had to cease operations in the country until they were approved. It’s fair to say that this was far from popular and the ensuing pressure has led to this decision.

It was reported by eGaming Review that local sources believe it has been left out and it follows them making a separate u-turn when they were challenged on the proposed level of taxation. It must be bloody easy to get the government to get you to do stuff in Greece. You don’t even have to go in all guns blazing; just make a small complaint and you’re sorted!

More changes to the bill include the lowering of a number of the financial requirements. It now means that you can apply for a license as long as your company has a minimum share capital of €400k (as opposed to €500k before) and a letter of credit for €200k (€300k before).

As far as players are concerned, the minimum bet has now been taken from the original price of €5 to amounts between €0.10 and €2 and a player ID card will be compulsory for all players.

If passed, the one in three Greeks will be able to gamble as they please with any company that decides they want to take on the Greek gambling gauntlet. This is unless the Remote Gambling Association finds another bee in their bonnet and gets the Greek government to change the bill again.

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