Greece to implement €2 maximum stake limit on online slots
Government publishes secondary legislation including €5,000 maximum prize per RNG gaming session
The Greek government has released secondary legislation imposing a €2 maximum stake limit on all online slots games and limits on prizes as part of new rules targeting licensed online casino operators.
Operators will be limited to a €5,000 (£4,500) maximum prize per gaming session under the new rules, with all casino games subject to a €70,000 (£63,000) prize cap.
These regulations were initially released in draft form in January, for a consultation process which ended in April, but have now been published officially in the country’s official gazette.
Players must also choose deposit, loss and time limits for their play, with all licensees required to send customers a warning when 80% of the respective limit is exceeded.
All online RNG games will be subject to a three-second minimum spin under the new rules. In addition, all slots advertising in Greece is banned, with the exception of advertisements made on a licensee’s own website.
Sports betting is limited to those events conducted by a recognised sporting body and virtual sports events. No sports betting markets may be offered on any unrecognised sporting events or events involving minors. Betting exchanges are prohibited under the new rules.
In addition, maximum winnings on all sports bets must not exceed €500,000 (£452,000). Licensees may designate the maximum amount of winnings per event subject to that threshold and can increase individual limits per event upon request by the player and receipt of a written agreement.
The new regulations also impose strict advertising rules targeting product placement, the protection of minors, sponsorships and social responsibility.
The legislation further bans commercial communication via the internet through so-called pop-up advertising, with all marketing via social media being restricted to individuals over the age of 21.
All affiliates are required to sign a “cooperation agreement” with Greek-licensed operators, which includes information on how affiliate fees are paid, in what form and over which timescale.
Notification of any new agreement signed must be sent to the Hellenic Gaming Commission (EEEP), with termination similarly notified.
The legislation also confirms the proposed licensing regime, under which a type-one licence for online sports betting would cost €3m (£2.5m) and a type-two licence for online gambling, which comes with a €2m (£1.7m) price tag.
Operators can apply for one or both licences, with each valid for a period of seven years. Prospective operators will be required to pay an application fee of €10,000. The licence renewal fee is also set at €10,000.