Greece is making big money from its online casino gambling market. In fact recent studies show that the net taxable value of the Greece’s gambling market is close to 6 billion Euros. But this is just a portion of the country’s huge and steadily growing national debt.

To get a move on things and the country’s Finance Ministry is making certain changes to the gambling laws and is also working towards the proper licensing and regulation of online casinos. Internet casino and poker room licenses will soon be made available by the Government of Greece. The OPAP (Greek Organization of Football Prognostics) will however continue to enjoy its monopoly in the field of sports betting and lottery ticket sales through 2019.

The national debt of the country stands at a shocking 301 billion Euros. To make things worse in 2003 a 31,500 Euro fine was levied on the Greek Government by the EU because the country violated the EU’s free movement services principles.

The revenues from licenses and the taxation of online casinos will be the saving grace for the country. The money generated from the online gambling industry will go into clearing the debt that Greece has built over the years.

Several countries are realizing the benefits of legalizing online gambling and the amount of financial support it can offer. Greece had better get a move on things quick because every moment that they delay the new laws is costing a good amount of cash.