Illegal VLT gambling market estimated at around a billion euros

3 January 2017
899 Views

Illegal gambling at Internet cafes and unlicensed mini-casinos appears to be on the rise in Greece, with police making 300 arrests in 51 raids in the last fortnight of 2016 alone.

According to official figures from gaming watchdog EEEP, over the course of last year police raided 480 establishments operating unlicensed gambling terminals or illegal casino games and made 1,513 arrests, also seizing some 160,000 euros in cash.

Authorities have also seized hundreds of computers that were illegally used as video lotto terminals, or VLTs, which appear to be the game of choice for Greek gamblers.

Experts, in fact, estimate that illegal VLT gambling is one-billion-euro market that results in losses to the Greek state from taxes of around 300-400 million euros.

Police say that curbing the phenomenon is a difficult task as the fines for operating illegal gambling machines are extremely low compared with the profits that can be made. A case in point is an establishment in the center of Serres in northern Greece, which was raided eight times in under three months and found to be in violation of gambling laws.

You may be interested

US: There will be costs if Russia acts against Ukraine
DEFENCE
shares12 views
DEFENCE
shares12 views

US: There will be costs if Russia acts against Ukraine

Panos - Apr 12, 2021

U.S Secretary of State Antony Blinken on Sunday said: “it would be a serious mistake” for China to strike at…

Kikilias: The plan is for vaccinations of healthy people in their 40s to begin in June
GREECE
shares10 views
GREECE
shares10 views

Kikilias: The plan is for vaccinations of healthy people in their 40s to begin in June

Panos - Apr 12, 2021

If everything goes according to plan and deliveries for the second quarter are made on time, vaccinations of healthy people…

Euro 2021 with fans in stadiums, UEFA decides
GREECE
shares23 views
GREECE
shares23 views

Euro 2021 with fans in stadiums, UEFA decides

Panos - Apr 12, 2021

The Euro 2021, which was postponed last year due to the coronavirus, will be held next summer with fans allowed…

Leave a Comment

Your email address will not be published.