Pierrakakis: “An End to the Wound” of Illegal Gambling – €1.6 Billion Lost Annually

The Greek government is stepping up efforts to crack down on illegal online gambling, which is estimated to cost the state over €1.6 billion each year in untaxed and unregulated transactions. The Minister of National Economy and Finance, Kyriakos Pierrakakis, presented a new strategic framework in Parliament aimed at tightening regulations and reclaiming lost public revenue.

According to a nationwide survey conducted by the Hellenic Gaming Commission (EEEP) in collaboration with Kapa Research, nearly 800,000 individuals in Greece participated in illegal gambling activities in 2024. These activities took place either through unlicensed websites or underground physical networks such as illegal clubs. The average annual spending per player reached €1,934, with estimated tax revenue losses exceeding €500 million.

Key Measures in the New Legislative Plan:

• Strict closures of venues found hosting illegal gambling operations
• Revocation of business licenses for offenders, including internet cafés
• Prison sentences for those obstructing regulatory inspections
• Monitoring of advertising and influencers promoting illegal platforms
• Enhanced digital surveillance and tools for the Hellenic Gaming Commission (EEEP)

The EEEP, under its new president Antonis Vartholomaios, is already coordinating operations in cooperation with the Bank of Greece, Hellenic Police (EL.AS.), and international regulatory bodies. The blacklist of unlicensed gambling websites now includes over 11,000 domains.

Special focus is placed on foreign platforms targeting Greek players, bypassing national regulations. Authorities are exploring the possibility of real-time monitoring and data cross-referencing to prevent further violations.

The new bill is expected in the fall of 2025, aiming not only to recover lost revenue but also to address broader concerns of social harm and digital security linked to the illegal gambling ecosystem.

Source: pagenews.gr