Greece Drafts Online Gambling Legislation

Last year, Greece was one of the few European countries to ban online gambling, but it seems now that the country’s government is changing its tune. Seeing how profitable online gambling legislation has been for other countries in the European Union, Greece has now drafted its own bill that would legalize and regulate the online gambling industry in the country.

Currently, residents of Greece spend more than $4 billion each year at online gambling websites that are running illegally in the country. With the new bill, the government hopes to recover some of that lost income, using it to help recover from its current financial situation.

Despite having been bailed out last year and avoiding bankruptcy, Greece is still having a hard time repaying its loans. So, the prospect of regulating an activity that its citizens already take part in seems more than fair, as well as being a beneficial solution to the problem.

The draft bill that has been drawn up for the legislation states that 15 to 50 operators will received licenses to operate within the country. There has been no word yet on whether or not it will be passed.