Greece defends its higher tax on online casino winnings as withheld tax rises 27%
Greek Finance Minister Kyriakos Pierrakakis has defended the 1 July increase in tax on online casino winnings. Tax withheld from gambling winnings reached €369m from January to August 2026, up 27.3% on a year earlier, though the figures do not isolate the effect of the rise.
South Africa is weighing its own tax on online gambling, with a final design due at the February 2027 Budget. Greece is a useful comparison because it taxes the player's winnings rather than only the operator, and its ministers openly discuss the risk of pushing players to unlicensed sites. Nothing in Greece changes what South African players pay today. The lesson for here is how governments justify new gambling taxes and pair them with enforcement against offshore operators.
What happened
Kyriakos Pierrakakis, Greece's Finance Minister, has stood by an increase in the tax on online casino game winnings, saying it helps "grow revenues for public services". SBC News reported his comments on 3 November 2026.
The change took effect on 1 July. Winnings between €100 and €500 are now taxed at 20% instead of 15%, and winnings above €500 at 30% instead of 20%. Winnings up to €100 remain exempt. The policy was first announced on 23 March, and the minister said it would bring in about €100m a year.
What the figures show
Figures published in October show tax withheld from gambling winnings was €369m between January and August 2026, up 27.3% from €290m a year earlier. Total gross gaming revenue rose 4.2% to €2.06bn, and state participation receipts from operators rose 7.9% to €484.5m.
These numbers cover the wider gambling market and do not separate out the impact of the July increase, so they cannot yet show how well the new rates are working.
The black market question
Asked whether higher taxes could push customers towards unlicensed sites, Deputy Finance Minister Thanos Petralias said revenue projections took demand elasticity into account and that operator data had been analysed. He also pointed to legislation against illegal gambling.
- Administrative fines of up to €2m per infringement.
- Prison sentences of at least ten years for specified illegal gambling offences.
- Separate penalties for influencers, affiliates and ad networks that promote illegal gambling.
- An October recruitment drive for 40 staff on secondment, including seven IT specialists, to strengthen the Hellenic Gaming Commission's inspections.
What it means for South African players
You are not affected directly. The comparison matters because South Africa's Treasury is working on how to tax online gambling, and the design question is the same one Greece faces: who pays, at what rate, and how to stop the tax making unlicensed sites look more attractive. Offshore casinos that accept South African players sit outside any Greek scheme.
As always, gambling is entertainment with a real chance of losing money, and a tax on winnings does not make it any safer.
What to watch next
Look for Greek data covering September onwards, which should show more clearly what the July rates did, and for any evidence of players moving to unlicensed sites. On the South African side, watch the February 2027 Budget for the final tax design.