It´s a frequent question about Greece and if its possible to run a white label sportsbook or casino website targeting Greece and the quick answer is, Yes it can be done, however its a bit of a grey area depending on what you are trying to establish.
Greece, officially the Hellenic Republic, is a country located in southeastern Europe. Greece’s population is around 11 million.
Athens is the capital and largest city with around 3,750,000 residents in its metropolitan area.
The official language in Greece is Greek while the dominant religion in the country is Eastern Orthodox.
The modern-day Greece emerged in 1830 following the war of independence.
Greece is a founding member of the United Nations and a member of many other international organizations such as the European Union, NATO, and the Council of Europe amongst others.
Gambling is legal and regulated in Greece. Gambling is only allowed within casinos spaces and not in public. Offline lottery and land based sports betting are controlled solely by OPAP, till 2020.*
Online gambling in Greece on the other hand, is a heated, complicated topic. The country was accused of protectionism, corruption and violating EU law by multiple online gambling operators, multiple times in the last 10 years. However, the situation seems to be resolved. In 2016 January the greek government announced, that they will be opening up the online gambling market and will be issuing online gambling licenses.** In the meantime OPAP still has a monopoly over online gambling and ISPs sporadically block foreign online gambling websites.However, due to the expected liberalization of the Greek online gambling market, foreign online gambling sites already started to accept players from Greece and players who place bets on foreign gambling websites are not prosecuted.
The bottom line here is that its a matter of cost if you want to run your registred gambling business the right way wich requires VAT number to start with and a small thing like that may sound easy to come by, but in reality its not that easy.
Starting your white label casino or betting website can be done between 15.000 to 25.000 euros (even more with other operators) wich basically includes a turnkey solution ready to go with umbrella licensing where you chip in on another company´s gambling license to keep the costs down alot and in the end bottom line would be your quick and cheap setup with a monthly fee for about 3-6000 euros depending on the setup and your requirements.
Now, that´s the white label way to launch your gambling, if you still want to run your legal Greece way of gambling and have the budget to maintain around 500.000 euros every 6 months (in round figures) then you might want to go with that.
With all this said, we haven´t even begun to discuss the taxes.
Gambling calculates tax every 24hours in casino and every bet on sportsbook aswell in round figures around 40% besides tax on profits and without going into further details, it´s safe to say that it´s a complex situation especially if you are new into this.
White label casino, once again is the most easy way to run your business and if Greek people want´s to play on your site – then welcome!
You do not even have to have your registred business or office and nobody else beside you and us needs to kno who you are and who is running this awesome website with the biggest payouts and casino bonuses.
If you are thinking of launching your very own white label casino and sportsbook business, then feel free to get in touch with us,
We have solutions for the little guy and the big investors that suits all your needs at a comfortable price for sure.