Sat, Dec

Betfair Unhappy with Greek Draft Proposal


Betfair GreekBetfair, the world’s biggest betting exchange, has been trying to get its foot into the green online gambling market for quite awhile by endeavoring to do away with the many monopoly groups currently governing the industry.

The group has been suggesting principals to the Greeks that should be taken into account in the laws proposed by them in an attempt to lead them into creating a fair and open gambling market.

However, Betfair is very upset that the Greeks have ignored most of their suggestions and that the government has contradicted the European Union law and created a proposal that will disallow competition into the market.  The European Commission will give its opinion on the Greeks’ proposal at the beginning of next month after reviewing the laws that have been proposed by Greece.

A statement made by Betfair reads “We have therefore asked the Commission to review the matter and engage with the Greek authorities with the aim of addressing the concerns raised in our complaint.”

The Greek proposal requires online operators to have all monetary transactions processed through Greek banks and to have a Greece-based legal entity and server in order to obtain a license.  It also requires online gamblers to obtain a unique players’ ID card.