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Greece to regulate online gambling in line with E.U. law by early 2011

The Greek Government's well known intention to lift bans on online gambling in order to lift revenues seem to be making progress according to a report from Bloomberg.

Bloomberg reports that a statement issued by the Athens-based Finance Ministry said that online gambling will be legalised, that some licenses will be issued for games of chance and a Gambling Supervision Commission will be established to monitor the industry.

The changes aim to boost government revenue by more than €1 billion ($1.3 billion) in two to three years. Greece is struggling to meet revenue collection targets imposed by the European Union and International Monetary Fund in May in exchange for a €110 billion bailout.

Source: InfoPowa News

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