Betfair Pulls Out of Greece
In a move not all that surprising, the world’s largest online gambling domain Betfair has pulled its services out of Greece due to the continuing controversial gambling laws in that country. The company says they have voluntarily chosen to depart from the country before a December 5 deadline imposed by Greece’s gambling authorities as a form of protest over Greece’s continued violation of European gambling law. Betfair has joined other online gambling firms in condemning Greece’s actions, particularly for providing a monopoly to its domestic gaming company OPAP.
Betfair had been anticipating revenues of nearly £13 million out of operations in Greece alone this year, but the protectionist legislation in Greece has prevented the company from achieving those revenue goals. While announcing their withdrawal, Betfair also released a statement about the ongoing legal challenge Greece is facing with the Remote Gaming Association (RGA).
“There are significant issues with the legality of this Dec. 5 deadline. However, until greater clarity is received, we have taken the decision to withdraw from the market and will continue to support the RGA’s efforts.”
The RGA has challenged Greece’s protectionist measures, arguing that they are unfair and do not comply with legislation coordinated by the European Commission (EC). In particular, they have cited the monopoly that Greece has given to its domestic sportsbetting company OPAP as non-compliant with the competitive regulation of the European Union. The RGA says this protectionist measure blocks online gaming companies from competing with OPAP in a market that is supposed to be open to fair competition.
However, Greece is not alone in failing to comply with European gambling regulations. Belgium, who has been the target of heated criticism for its actions at the European Gambling and Betting Association conference in Brussels, and Germany, who has introduced a 5 percent gambling tax, have both been cited as countries in violation of European gambling law. The EC has suggested it will take legal action against both countries if they continue to violate European law.
