Legal online gambling contributes €500 mln in taxes

Legal online gambling contributes €500 million in taxes while illegal gambling sites cost the state coffers the same sum in lost revenue, the Delphi Economic Forum has heard.

Yiannis Kapodistrias, a member of the Hellenic Online Gaming Association, said his sector generates “over half a billion euros in tax revenue,” adding that legitimate companies protect gamblers by investing in systems to detect pathological behaviors and also financially support unpopular sports.

For his part, Giorgos Vasileiadis, a former SYRIZA deputy sports minister, said that despite the regulatory framework for online gambling, “more than half a billion euros in taxation is lost due to illegal companies.”