Greece's gambling industry will be "finally well regulated and organised" if the new gambling bill that was proposed earlier this year is passed, it has been claimed.

Under the current law, nine casinos have been granted licences but the street market remains closed. The new draft law aims to regulate three categories of games – entertainment games, games of chance and online games.

Via connection to a central information system, the government will have complete oversight of all operators and for the first time, the concept of ‘responsible gaming’ will be specifically written into the law to provide protection of players.

Crucially, the new bill provides four to 10 large-scale licences for conducting games of chance via gaming machines – most likely video lottery terminals. In practice, this is expected to be around 25,000 game machines in dedicated venues. There is also a provision for granting a further 1,000 to 5,000 small-scale licences for the operation of between one and five machines in coffee shops, for example.

The new bill also provides for up to 50 licences for games of chance via the internet.

Should the bill be passed into law, then a new Committee of Supervision and Control of Games will be established to effectively regulate this new market.

Constantinos Couccoullis, of law firm Constantinos N Couccoullis and Associates, is optimistic that if the law is passed in this form, the market will benefit enormously.

“Having in mind all the aforementioned, and since we are not talking about a reformation of an existing law but for the foundation and enforcement of a new law, I strongly believe that the gaming market will be finally well regulated and organised,” he told InterGaming. “I am definitely sure that the set principles and rules guarantee a fruitful and successful future.

“Strong foundations for the legal and modern gaming industry are about to be installed with certain benefits and profits for the gaming market. All these can be confirmed by the fact that there is a huge interest from many foreign companies, which, through co-operation with Greek companies or solo, will participate in the granting of licences.”