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Business News

Betfair pulls its plans for Greek venture as it 'won't be a winner'

The odds are that setting up a betting business in Greece won't make much money, Betfair said yesterday as it withdrew plans to enter the country.

The gambling group had been working on entering Greece, but fired a warning to Athens' politicians, saying the country's gambling market was "economically unattractive".

It also said "according to legal advice received, the value of [permits required to operate] is unclear and we consider the gambling legislation in the country to be inconsistent with European law".