Players in Greece are about to receive more iGaming and sports betting options. NetBet Casino has been given a license to operate in the country. The supplier is the latest in a chain of companies to be rewarded a license to operate in Greece following regulatory changes that took place there in 2020.
NetBet will be licensed by the Hellenic Gaming Commission, which is the licensing body for gambling and sports betting in Greece. The license will be initially valid for seven years, allowing NetBet to offer both online casino and sports betting options.
The Hellenic Gaming Commission put into place several key changes to its legislation in 2020. Under the new laws, operators are able to apply for two different licenses. The first one is for sports betting, while the other one is for online gambling and other games of chance. NetBet has been granted both of these.
The application for both of these licenses was made available in October 2020. The bill was originally drafted back in January 2020, which was then approved by the European Commission. In order to apply, operators must pay €3m for the sports betting license, and €2m for the casino one. Each license is rewarded for the same period of time.
CEO of NetBet Enterprises Ltd., Gabriela Arnautu, spoke with great excitement about the company being given the Green gambling license. She highlighted how the NetBet company has been impressing around the world for over 20 years. Furthermore, now the firm has the opportunity to make an impact in Greece.
Greek gamblers will have to deal with some restrictions as part of the new agreement though. While an initial draft of the bill attempted to ban RNG games altogether, it was eventually settled that games would be given caps for both stakes and winnings.
The maximum amount that a player can bet on a slot is €2 and a spin must last for a minimum of three seconds. There is also a maximum win of €5,000 for standard games and €50,000 for jackpot titles. As per gambling laws in Greece, only those who are aged 21 and over are able to play.
NetBet is one of several operators to have been approved for the licenses since the change took place. GoldenRace, Playson, Betsson, Bet365, and Play n’ GO have also broken into the market. All operators who are granted licenses must pay a 35% gross gaming revenue tax rate in the country.
NetBet Casino has been on the scene since 2001. It is a well-established casino that operates in a range of countries. As well as offering online slots and a range of sports betting markets, the casino offers a plethora of live casino products. It works with a variety of providers including the likes of NetEnt, Evolution, and Microgaming.
The Hellenic Gaming Commission will be in good company. NetBet is also licensed by the Malta Gaming Authority and it holds licenses from Curacao, UK, Italy, Nigeria, and Romania. These are among some of the most respected licenses in the industry. These licenses and the level of customer care are two of the reasons that NetBet has been able to stay so popular for two decades.