Greece’s Council of State has ruled that funds from unlicensed gambling companies cannot be treated as legitimate sources of funds on bank statements. Based on this decision, the Tax Administration will only accept gambling profits from licensed operators as valid income.
Profits from unlicensed operators may be subject to fines, as any other profits whose legal origins cannot be verified.
This comes at a time when Greece is significantly strengthening its enforcement against illegal gambling activity. Most recently, the regulator, EEEP, filed a complaint with the Athens Prosecutor's Office against 18 influencers for allegedly advertising illegal gambling operators on their Instagram accounts.
Furthermore, the upcoming overhaul of gambling regulations will give EEEP greater enforcement powers and impose heftier fines for operating and advertising illegal gambling.
Strict criminal penalties incoming. Operating illegal gambling could carry prison sentences of up to 10 years alongside fines of up to €700,000 ($797,720).
Advertising violations may carry fines of up to €50,000 for each violation. This pertains to influencers, affiliates, streamers, and digital networks.
Another major change coming into effect in Greece soon is the increased taxation on player winnings from online casino games. The changes will take effect on 1 July 2026. For winnings between €100 and €500, the rate will rise from 15% to 20%, while for amounts over €500, it will increase from 20% to 30%.
Latest local media reports suggest that taxation will continue to be calculated on players' net daily result, meaning the difference between losses and winnings over the 24-hour period, not per ticket or game. This tax will be withheld before being credited to the player's account.
The Government expects to collect around €50m from the new winnings tax in the second half of 2026 and €100m annually from 2027 onwards
