The Greek government expects reduced revenues of approximately 400 million euros from the gambling market in 2021, on the one hand due to the disruption brought by the pandemic to this activity and on the other hand due to the special tax forecasts adopted in 2020.
More specifically, the 2021 budget envisages revenue of 19 million euros from gambling service licenses compared to 75 million euros of the corresponding provision in 2020, the year in which the relevant process began, which, however, remains pending the final return of licenses by the EEEP.
Lottery and gambling tax revenue is estimated at € 109 million and the same amount is included in other taxes compared to € 155 million last year.
Taxes on gross gambling profits are projected at 367 million euros from 801 million euros respectively. A significant part of the above reduction is due to the fact that from October 12, 2020 and for a decade OPAP revenues will be taxed at 80% of the applicable rate, as a result of the prepayment of tax already paid by the Organization, amounting to 375 million euros.
Then, taxes on state lotteries are estimated at 5 million euros, from 4 million euros in 2020, while the gross profits of casinos correspond to taxes of 24 million euros from 54 million euros last year.
A budget of just € 2021 million from casino licenses is also being added to the 1 budget, an amount that is considered rather indicative, as the Inspire Athens consortium (Mohegan-GEK TERNA) emerged in October 2020 as a temporary contractor for the casino license in Elliniko. with an offer of 150 million euros.
It will of course take a reasonable time for the final text of the concession agreement, lasting 30 years, to be agreed between the public and the consortium, as well as the approval of the agreement by the Parliament.
In addition to the predictions, the evolution of the gambling market depends to a large extent on the course of the pandemic, which last year affected both the terrestrial market - due to lockdowns - and the online one, given the cancellation of major sporting events, which are a major field. of betting.
Regarding internet betting in Greece, which at least remained practically out of bounds, the data of the first four months of 2020 show relative stability.
The gross profit of GGR (Gross Gaming Revenue) of this period amounted to 185 million euros. It is noted that the gross revenues of existing online providers for the whole of 2019 reached 437 million euros, increased by 11%.
At European level, according to the latest estimates, online gambling has gained a share and maintained its revenue growth rate, compared to the performance of the land market.
In particular, according to data from the European Gaming and Betting Association (EGBA) in cooperation with H2 Gambling Capital, the total revenue of the gambling market in Europe is projected to decline by 23% for 2020, as from 98,6 billion In 2019, Gross Gross Revenue (GGR) is expected to reach € 75,9 billion in 2020.
By contrast, online gambling revenue in Europe is expected to increase by 7%, from € 24,5 billion in 2019 to € 26,3 billion in 2020.
SOURCE capital.gr
More specifically, the 2021 budget envisages revenue of 19 million euros from gambling service licenses compared to 75 million euros of the corresponding provision in 2020, the year in which the relevant process began, which, however, remains pending the final return of licenses by the EEEP.
Lottery and gambling tax revenue is estimated at € 109 million and the same amount is included in other taxes compared to € 155 million last year.
Taxes on gross gambling profits are projected at 367 million euros from 801 million euros respectively. A significant part of the above reduction is due to the fact that from October 12, 2020 and for a decade OPAP revenues will be taxed at 80% of the applicable rate, as a result of the prepayment of tax already paid by the Organization, amounting to 375 million euros.
Then, taxes on state lotteries are estimated at 5 million euros, from 4 million euros in 2020, while the gross profits of casinos correspond to taxes of 24 million euros from 54 million euros last year.
A budget of just € 2021 million from casino licenses is also being added to the 1 budget, an amount that is considered rather indicative, as the Inspire Athens consortium (Mohegan-GEK TERNA) emerged in October 2020 as a temporary contractor for the casino license in Elliniko. with an offer of 150 million euros.
It will of course take a reasonable time for the final text of the concession agreement, lasting 30 years, to be agreed between the public and the consortium, as well as the approval of the agreement by the Parliament.
In addition to the predictions, the evolution of the gambling market depends to a large extent on the course of the pandemic, which last year affected both the terrestrial market - due to lockdowns - and the online one, given the cancellation of major sporting events, which are a major field. of betting.
Regarding internet betting in Greece, which at least remained practically out of bounds, the data of the first four months of 2020 show relative stability.
The gross profit of GGR (Gross Gaming Revenue) of this period amounted to 185 million euros. It is noted that the gross revenues of existing online providers for the whole of 2019 reached 437 million euros, increased by 11%.
At European level, according to the latest estimates, online gambling has gained a share and maintained its revenue growth rate, compared to the performance of the land market.
In particular, according to data from the European Gaming and Betting Association (EGBA) in cooperation with H2 Gambling Capital, the total revenue of the gambling market in Europe is projected to decline by 23% for 2020, as from 98,6 billion In 2019, Gross Gross Revenue (GGR) is expected to reach € 75,9 billion in 2020.
By contrast, online gambling revenue in Europe is expected to increase by 7%, from € 24,5 billion in 2019 to € 26,3 billion in 2020.
SOURCE capital.gr
