Greece to Legalize Online Gambling
Thursday, December 30th, 2010 - Emily W
Currently, Greece is one of the only countries in Europe is upholding its online gambling ban. The European Union has not yet decided to penalize the country for violating free trade laws, but Greece has decided on its own to legalize the activity.
Online gambling is a great way to boost a country’s revenue. By regulating and taxing the industry, various countries across the European Union have been able to improve their economies by reclaiming a portion of the profits that citizens spend at offshore gambling websites.
Money raised from online gambling profits can help fund social programs and dig countries out of debt. Greece is currently in need of the second option, as the country is still struggling to pay off outstanding deficits to the European Union. Even after the bailout, Greece is still struggling to improve its economy.
The new online gambling legislation would allow Greece to tax winnings of players at online casinos, which is predicted to raise £1 billion for the country. The bill would also establish a regulatory body that would oversee the taxing the industry and fair gaming practices.
You must be over 18 years of age to register and to place a bet. The company reserves the right to ask for proof of age from any customer and customer accounts may be suspended until satisfactory proof of age is provided.
St Minver Limited is licensed by the Gibraltar Licensing Authority and regulated by the Gibraltar Regulatory Authority under the 'Gambling Act 2005'.