On 23 March 2026, the Greek government announced a package of relief measures in response to the economic pressures stemming from the war in the Middle East. A permanent increase in the tax on online casino player winnings, effective 1 July 2026, is one of the measures.
Despite being presented as a relief measures tied to developments in the Middle East, it was, however, already in the works. More specifically, the rate on net winnings between €100 (£87) and €500 will be raised from 15% to 20% and the rate on winnings above €500 from 20% to 30%. Winnings below €100 will remain tax-free.
The government expects the change to generate approximately €50m in the second half of 2026 and around €100m annually thereafter. The decision landed without prior industry consultation, catching operators off guard.
In addition to the player tax, the state levies a 35% gross gaming revenue tax on operators and a separate withholding tax on player winnings. The new rates compound an already high combined burden, with the real incidence of the increase falling, at least partially, on operators rather than players alone.
Channelisation and the illegal market
The more pressing concern for the long-term health of the Greek market is what happens to players who decide the regulated offer is no longer attractive. Greece has made meaningful progress on channelisation, but the licensed market still competes with a significant offshore grey market.
According to research conducted by Kapa Research on behalf of the Hellenic Gaming Commission, for 2024, 71.7% of consumers played in licensed and unlicensed casinos while 28.3% gambled solely in unlicensed casinos. The most important reason for using unlicensed operators was found to be the high tax rate.
The appeal of the licensed sector rests largely on its reliability, player protections and, critically, its financial terms relative to unlicensed alternatives. A tax increase of this magnitude on the player side further reduces that competitive advantage. An unlicensed site operating from outside Greek jurisdiction faces none of these withholdings.
The government’s own projections assume a stable revenue base, but if channelisation rates deteriorate, the fiscal projections become significantly less favourable. A more sustainable tax rate could instead attract players from the illegal market, generating additional revenue for the state while allowing players to benefit from the protection of the regulated environment.
It is notable the measure targets online casino gambling exclusively, leaving sports betting rates unchanged. Online casino gambling has been on the rise since Covid-19 and is steadily increasing its share. Deputy minister of finance Thanos Petralias stated: “In recent years, there has been a rapid increase in online casino gambling.
“It was deemed this represents a source of revenue for the state that could permanently strengthen the public budget. Considering this, we deemed it socially just that a greater share of this growth should go to state revenue, which will be returned to citizens.”
The process and what comes next
Beyond the substance, the manner of the announcement sets a concerning precedent. A market that has attracted serious, licensed operators – companies that have invested in local compliance infrastructure and engaged constructively with the Hellenic Gaming Commission – is entitled to expect a degree of regulatory predictability.
Emergency tax decisions announced without consultation undermine that expectation and make it harder to attract future investment.
Greece is simultaneously advancing a separate legislative initiative to toughen criminal sanctions against illegal gambling operators, influencers and players. This is a welcome development, but its effectiveness also depends on the licensed market remaining genuinely competitive.
A regulatory environment that squeezes licensed operators while unlicensed alternatives remain accessible is unlikely to achieve the channelisation outcomes it seeks. The two policy tracks need to move in the same direction.
Stathis Champimpis is a legal and compliance consultant at N&A Law Firm, where he advises on Greek gaming regulation, administrative law and compliance matters. He advises licensed operators, manufacturers, gaming labs and affiliates on licensing, regulatory proceedings, enforcement matters and transactional work in the Greek online gambling sector.
The post Greece raises the stakes: what the new casino tax on player winnings means for the market first appeared on EGR Intel.
Stathis Champimpis, legal and compliance consultant at Athens-based N&A Law Firm, argues licensed operators are entitled to expect a degree of regulatory predictability
The post Greece raises the stakes: what the new casino tax on player winnings means for the market first appeared on EGR Intel.