The Greek authorities are currently looking for ways to enter the growing online casino gambling market. The act is an attempt to rescue their failing economy. The country has not yet recovered from the effects of the global financial crisis and is almost at her breaking point, while looking for new ways to repay its huge loan that they got to aid their financial problem.

Online gambling and sports betting have become a gray area in Greece, but it is very popular among many of its citizens. The online casino gambling industry is very popular in Greece, players sometimes bet thousands of dollars per month online. It is this wave of enthusiasm for online gambling, that got the attention of the government to legalize online gambling, and can potentially generate millions in revenues. It is probable that the Greek government will adopt a similar manner as the French and Italian authorities with strict legal guidelines for online casino gambling and betting operators who wish to provide their online casino games to the Greek people. The new law on gambling is not expected to be in place for this years World Cup Soccer, which would have generated revenues directly. A more realistic date for the new legislation is the first part of 2011. When the bill is introduced, it will certainly be a huge improvement, not only for the Greek economy, but also for the online casino gambling industry as a whole.

Ioannis Spanoudakis Director of the Greek gambling monopoly OPAP confirmed the legalization and said: “With respect to the online casino legislation, the government has been in discussion with us. The legislation that we will use in Greece is based on legislation in France and Italy. It could be that the government will begin the legislation this month.”