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Greece Plans To Authorize Online Gaming

Greece is one of the best European tourist destinations that offer the best casinos and gambling tourism in Europe. It offers superb casinos and at present its supports about 24% of the online casinos.

Greece has planned to authorize low stake gaming machines in its country and the government will comply with the laws of the European Unions. This move has been established as a way to increase its cash flow to bailout the 110 billion euro debt.

The Finance ministry unveiled that they will authorize low price slot machines and they will be subject to restrictions. These low stake slots will be in the licensed areas and the supervision commission will establish the monitoring of gambling activities.

The authorization of online gaming will be submitted to parliament in February and it hopes to receive a revenue of more than 1 billion in the next two or three years. However, Greece is currently facing difficulties from IMF (International Monetary Fund) when it was granted a bailout in May 2010.

Due to this debt, Greece has planned to issue 50 online gaming licenses and will allow only low stake gaming machines. With is population of 11 million, it has planned to raise some funds through online gaming to cover its 110 billion euro bailout.

The authorization of online gaming bill will be voted during the quarter year and their aim is to offer all licenses by the end of this year.