Greece as a modern independent country has only existed around 200 years since it has gained independence from the Ottoman empire, however ancient Greece that has existed since the 8th century BC is considered the cradle of western civilization and birth place of democracy, the Olympic games, western literature and many other significant contributions to science and the arts that are felt the world over until today.
Gambling is legal in the modern Greece and land casinos operate in the country using state issued licenses. Sports betting and a popular state lottery also operate in the country under a state monopoly and are run by a single company called OPAP that is now a publicly traded company with the Greek government owning only a third of the shares. OPAP holds exclusive rights for running such betting activity until the year 2020.
Online gambling in Greece has had its ups and downs as the Greek government tried for a long while to restrict it in every possible way. In 2002 the government has passed legislation that banned all online gaming activity and included even games of chess and checkers to try and prevent people from playing from internet cafes.
Following the legislation Greek players were forced to play with foreign online casinos from the privacy of their homes. The law was considered sever by any standard, but recently there has been a chance to legislation that will usher a new era for Greek online gambling.
The new legislation will require online gaming operators to set up local Greek severs and operate under Greek domains. ISP's will be required to block all foreign online casino operators and financial institutions will be prohibiting from handling money transactions for those foreign operators.
This signals a refreshing change that will no longer make Greek online casino players engage in illegal activity and will bring regulation and stability to the industry.
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