iGN x 4H: review of the iGaming license in Greece

iGN x 4H: review of the iGaming license in Greece

The iGN editorial team, together with experts from the 4H Agency prepared an analysis of Greece's licensing model. Online gambling (casino and betting) remains the only vertical open to private operators. The land-based segment is strictly limited. Casino licenses are issued through tenders with a limit of 10 licenses (9 already issued), land-based betting, VLT, and lotteries are under state monopoly. The HGC regulator issues two types of iGaming licenses. For online casinos and for online betting (fixed odds betting)

iGaming licenses (7 years):

• License application — ~$12 thousand (both licenses)
• Cost of online betting license — ~$3.6 million
• Cost of online casino license — ~$2.4 million
• Mandatory share capital — ~$240 thousand

Applicant Requirements:

• Company registered in Greece or another EU/EEA country
• Absence from the blacklist of offshore operators for a year before applying
• Documented business plan for activity development
• No convictions for certain criminal offenses (fraud, bribery, tax evasion, drugs, etc.)
• Internal policies and procedures for game transparency and integrity, protection of players under 21, and general compliance with legislation
• Storage of all gambling-related data on servers and equipment in Greece
• Separate permission from HGC for gaming equipment and software
• Equipment certification in regulator-approved laboratories

Taxes:

• 35% from GGR
• Tax on winnings from bets (online betting). Up to ~$120 exempt, up to ~$240 — 2.5%, up to ~$600 — 5%, above ~$600 — 7.5%
• Tax on winnings from gaming sessions (slots, casino). Up to ~$120 exempt, up to ~$600 — 15%, above ~$600 — 20%

Market Features:

• Age threshold 21+, one of the highest in the EU
• Mature market with strong presence of international operators (bet365, PokerStars, Betsson, bwin, Novibet, NetBet, etc.)
• Manufacturers, suppliers, and service companies of gaming equipment undergo separate B2B licensing under the supervision of the regulator
• Fixed 35% GGR for online operators, one of the highest levels of tax burden in Europe
• The fastest growing iGaming market in Europe in 2H 2025 (+50% Blask Index) amid a busy sports calendar, increased betting limits in online casinos (€2 → €20), large-scale blocking of offshore sites, and the introduction of instant payments IRIS

According to 4H data, the Greek license combines a high tax burden (35% GGR) with one of the highest age thresholds in the EU (21+). Meanwhile, the online license remains the only available format for private operators due to strict restrictions in the land-based segment

Greece showed the fastest growth in iGaming activity in Europe in 2H 2025 (+50% on Blask Index) with some of the highest entry thresholds in the region