Kyriakos Pierrakakis, Greece’s Finance Minister, has stood by the decision to increase taxes on online casino game winnings to “grow revenues for public services”.
Figures published in October show that taxes withheld from gambling winnings were €369m between January and August 2026, up 27.3% from €290m in the same period last year.
Total GGR was up 4.2% to €2.06bn and state participation receipts from operators were up 7.9% to €484.5m. The figures cover the wider gambling market and do not isolate the contribution of July’s player tax increase.
The tax raise (introduced on 1 July) increased the rate on online casino winnings (€100–500) from 15% to 20% and above €500 from 20% to 30%. Winnings up to €100 remain exempt.
The policy was first announced by Pierrakakis on 23 March. Pierrakakis identified online casino winnings as another revenue source to fund support for households and businesses as energy costs rise.
“This intervention will increase public revenue by about €100m a year,” he said, according to the Finance Ministry’s official transcript.
Gov’t says black market risk considered
Deputy Finance Minister Thanos Petralias gave the government’s detailed defense: rapid growth in online casino and poker warranted a bigger contribution to public finances.
At the same press conference, Petralias said that the sector could provide a permanent revenue source for the state budget and future government measures.
A bigger public share of market growth was socially fair, he added – proceeds go back to citizens.
Asked whether higher taxes could drive customers to unlicensed websites, Petralias said revenue projections took demand elasticity into account, and that operator data was analysed as well.
He also cited accompanying legislation against illegal gambling as a defence against customers moving outside the regulated market.
The deputy minister explained that online casino-type games (slots and poker) were increased; sports betting and other OPAP products remained under separate tax arrangements.
Regulator buffs up for black market fight
The tax changes form part of a wider programme to beef up the Hellenic Gaming Commission‘s (EEEP) enforcement capacity.
An October recruitment drive sought 40 staff on secondment (seven IT specialists included) to beef up the regulator’s inspection corps. The extra expertise helps supervise an increasingly digital gambling market, but the recruitment notice does not say whether it is funded by the higher player tax.
The overhaul strengthens website blocking, investigative powers and sanctions against illegal activity.
The Finance Ministry’s published framework sets administrative fines of up to €2m per infringement (depending on the offence) as well as prison sentences of at least ten years for specified illegal gambling offences.
Individuals convicted of relevant offences are criminalised; businesses face financial and administrative sanctions; different penalties apply to promotion of illegal gambling by influencers, affiliates and digital advertising networks.
Protecting the regulated market’s contribution to public finances is therefore a key issue. HGC estimates Greek state gambling revenue at €1.17bn in 2025 (€737m online and €433m land-based activities).
Speaking to the HGC on 6 October, Pierrakakis warned that illegal gambling took money from the state and undermined businesses that were complying with the rules. He said it was up to the government to provide personnel, technology, and a legal framework for supervision.
For the administration, the issue is how to keep gambling’s big slice of the budget intact while ensuring stronger taxation is matched with strong action against unlicensed competitors.
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