Higher betting limits in online casinos in Greece

Greek gambling fans will be very happy with this decision: the betting limit for online casinos will be increased. This decision was made by the current Minister of Finance Christos Staikouras. This means that players in Greece can now bet 20 euros instead of only 2 euros as before.

The recent increase in betting limits across online casinos in Greece has attracted high-stakes players and enhanced gaming freedom. These changes support a more personalized and thrilling gambling experience, allowing users to tailor their risk levels. Interestingly, this development aligns with a global movement toward eco-conscious gaming. Many platforms are now implementing greener practices, from reduced server energy use to sustainable gaming initiatives. So while players in Greece enjoy higher limits, there’s also growing awareness of minimizing impact. Learn how you can reduce your environmental footprint while playing and game responsibly.

A new regulation has been adopted

A few weeks ago, the Greek government introduced a new regulation. It is called "Establishment of the Gambling Ordinance on the organization and conduct of online gambling". Thus, the new rules concern online casinos and provide changes not only for the players themselves but also for gambling operators.

For example, all gambling operators that received a license in 2021 must install an Interim Control System by the end of 2022. The amendments to the gambling law are based on the fact that online gambling was legalized in Greece only last year. Therefore, there was a need to create a separate regulation for online casinos. However, the idea of this did not originate only in the government. Instead, gambling operators approached the government through the regulator. Therefore, according to the press release of the Ministry of Finance, further changes have taken place. 

The betting limit has been increased

The betting limit for random games will be increased to 20 euros. Thus, for all games that work with a random number generator, a larger deposit can be made. But which games are affected? Basically, all gambling games are offered online. Because not only slot machines but also classic casino games like roulette or poker work with a random number generator. After all, online casinos offer computer games that are not operated by a human croupier.

Gambling enthusiasts will also be very happy about another change: the maximum possible winnings have also been increased. It is now apparently possible to win €70,000. The press release does not explain why there is a maximum amount at all. From now on, it is possible to pay out winnings of up to €140,000 per bet. However, those who won a larger jackpot should not worry as jackpots are excluded from the maximum winnings limit. However, the €140,000 win amount includes not only the net winnings but also all other bonuses that were paid out in the game round.

Pause between rounds shortened

With changes in the rules of online gambling, the government has decided to reduce the time between rounds of the game. From now on, it can be two seconds. Until now, players had to wait three seconds in Greek online casinos. On the other hand, Germany has had a five-second break since last year, although there are casinos where the five-second rule does not apply. This idea also seems to come from gambling providers. They approached the Gambling Authority because they experienced a significant drop in revenue after the legalization of online gambling last year.

Before online gambling was regulated, there were no limits for players. Thus, they could bet as much money as they wanted per round of the game. After the regulation, the betting limit was reduced to 2 euros. Since the maximum profit is always related to the amount deposited, the maximum possible profit was also determined. It is not possible to verify whether this led to a drop in the game. It is only published that online casino operators were dissatisfied and demanded changes.

The government will benefit from the new rules

Not only online casino operators were unhappy with the situation since the ruling. Because there was a betting limit, it seemed that fewer players played. This is the goal of many countries: to reduce gambling so that there are no new cases of gambling addiction. This is why other countries have set betting limits that apply to more than just one round of play. Many countries, including Germany, have set a monthly limit. This limit can be quickly exceeded even with low limits per round of play.

Therefore, the rules and limits set in Greece were less strict than in other countries. Nevertheless, the government is pleased with the increase in the limit per round of the game. After all, the state earns on gambling because operators have to pay taxes. The government hopes that tax revenues will increase if players place more bets because of the higher limits. Only the future will tell if this hope will come true. After all, players don't have to bet more - they are simply allowed to.

Which gambling providers are represented in Greece?

Although gambling has been around in Greece since ancient times, online gambling only started to be regulated in the last year. As it happens, the first online gambling licenses were issued only in 2021. Last year, the Greek government planned to issue 15 licenses. The first licenses were issued in May, which pleased Betsson, for example. This Swedish provider gave it's Greek online casino the name Betmed.

Other providers who were happy about the license last year: were Bet365 and Betshop. Bet365 targets players under the name Lucky Stream, while Betshop chose the name B2B Gaming. Most licenses are valid for seven years and have resulted in significant costs for gambling providers. According to a public report, a license should cost between two and three million euros. A sports betting license costs three million euros, while a license for classic games involves only two million euros.

Recent regulatory changes in Greece have introduced higher betting limits in online casinos, attracting high rollers and giving players more freedom to play at their preferred stakes. This flexibility is fueling interest in poker and other skill-based games, where betting strategy becomes crucial. Interestingly, Danish poker communities continue to thrive under the radar, sharing insights through podcasts and niche magazines. These sources often reveal tournament tips, bankroll management advice, and exclusive interviews. So whether you're playing big in Greece or following Danish poker news, there’s value in staying informed. Explore hidden gems of Danish poker content for strategic insights.

Compared to online casinos, Greece has had its own casinos and casinos for many years. Some of them have had financial difficulties in recent years that cannot be attributed to the corona pandemic. Rather, it is due to illegal providers who, for example, circumvent legal provisions with white labels.