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Greek Gambling Tax Changes
Monday February 4,2013 : GREEKS CHANGE TAX THRESHOLD ON GAMBLING WINS
Move seen by observers as a move by government to protect monopoly OPAP's sales performance
The Greek newspaper Ekathimerini reports that the Greek government is attempting to protect the sales performance of its partly owned gambling monopoly OPAP by introducing a tax-free threshold on small gambling winnings.
The newspaper says that the cash-strapped government is attempting to increase tax receipts without hurting the monopoly's sales.
According to a legislative amendment to be submitted to parliament soon, OPAP players' winnings will be taxed progressively, the finance ministry told the Reuters news agency.
The move scraps a 10-percent flat rate on all winnings which was announced in September as part of government efforts to plug its budget deficit.
Winnings between 100 and 500 euros will be henceforth taxed at 15 percent and those above at 20 percent, the Finance Ministry said. Winnings below 100 euros will be tax free.
Earlier, analysts had criticised the flat-rate taxation, arguing it would discourage small-time punters and hurt company sales and tax receipts.
Thirty-four-percent state-owned OPAP is one of Europe's biggest and most controversial gambling companies. It is worth Euro 2 billion on the Athens Stock Exchange, making it Greece's third-biggest company by market value.
Rivals such as William Hill and Stanleybet, and trade bodies like the Remote Gaming Association and the European Gaming and Betting Association have challenged its monopoly and taxation regime in Greek and European courts.
The Greek government said on Sunday that it had obtained European Commission approval to scrap the flat tax rate. A 30-percent levy on OPAP gross earnings, also announced in September, remains unchanged.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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