The Reuters news agency is reporting that the Greek government is moving ahead with plans to open their online gambling market.
Unnamed government officials have told Reuters that a new gambling bill will be voted on before the end of the first quarter of 2011 with a view to implementation prior to year's end.
The bill will allow for 50 online gambling licenses to be awarded to successful applicants, as well as expanding the number of low stake VLTs (video lotto terminals) throughout Greece.
The measures are largely fiscally motivated, with the Greek government under pressure to meet the terms of the European Unions €110 billion bailout. It is believed the new laws will raise up to €700 million in their first year of implementation.
No doubt the like of William Hill, Unibet, Bwin, Ladbrokes etc, will soon be jockeying for position to enter this lucrative EU market in months to come.
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