Greece’s Finance Minister, Kyriakos Pierrakakis, has reaffirmed the government’s commitment to tackling the black market in gambling, as players are hit by increased taxes on online game winnings. The announcement comes as the country seeks to bolster public finances while balancing the risk of driving players toward unlicensed operators.
Tax Hikes Target Players, Not Operators
The recent tax changes, effective from 1 July, raised the rate on online casino winnings between €100 and €500 from 15% to 20%, and winnings above €500 from 20% to 30%. Winnings below €100 remain untaxed. These increases directly affect players, rather than operators, potentially shifting player activity toward unregulated markets.
Between January and August 2026, taxes withheld from gambling winnings reached €369 million, a 27.3% increase compared to the previous year. Gross gaming revenue rose by 4.2% to €2.06 billion, and state receipts from operators increased by 7.9% to €484.5 million. However, these figures reflect the broader market and do not isolate the impact of the July tax hike.
Government Response: Stricter Black Market Measures
Recognising the risk that higher player taxes could fuel black market activity, the government has stepped up enforcement efforts. The Hellenic Gaming Commission (EEEP) has expanded its blacklist of unlicensed gambling websites. The updated list now includes not only illegal sites but also the individuals and companies behind them, as well as those promoting these platforms, targeting affiliate networks linked to the black market.
Finance Minister Pierrakakis has stressed that these tougher measures are intended to complement the tax increases and help maintain a fair and regulated market.
Why This Matters for the Industry
The Greek government's strategy of raising player taxes while intensifying black market enforcement has significant implications for operators, affiliates, and regulators. Licensed operators may benefit from a more level playing field if enforcement is effective, but could face reduced player engagement if higher taxes drive users elsewhere. Affiliates promoting regulated brands must navigate a stricter compliance environment, while regulators are tasked with ensuring that enforcement keeps pace with evolving black market tactics.
Key takeaways
- Greece has increased player taxes on online casino winnings, exempting only the first €100.
- The government is intensifying efforts against unlicensed gambling, expanding its blacklist to include affiliates and promoters.
- Higher taxes on players, rather than operators, may risk driving more activity to the black market.
- Operators and affiliates face a changing landscape as authorities seek to balance tax revenue with market integrity.