Greek Gambling Industry Rises By 14%

The Greek gambling sector has been on an impressive trajectory in 2024, marked by a significant increase in total gaming revenue (TGR). As of August, the market has recorded a turnover of approximately €28.3 billion (around $30.73 billion), showing a 14.1% rise compared to the same time year. This growth is largely down to the booming online betting segment, which has emerged as a dominant force within the industry there.

Regulator, the Hellenic Gaming Commission (EEEP) has played a pivotal role in regulating and promoting the sector, here are the latest numbers:

Key Statistics

Factors Influencing Growth

The rise in the gambling market can be attributed to several factors:

1. Technological Advancements: The rise of digital platforms has made gambling more accessible to the public.
2. Regulatory Support: The Hellenic Gaming Commission’s initiatives have fostered a safe and competitive environment.
3. Increased Consumer Interest: A growing number of individuals are engaging in various forms of gambling, particularly online.

Online Betting Dominance

Online betting has emerged as the primary driver of growth in the Greek gambling market. This segment alone accounted for €20.1 billion of the total revenue.

Contributions from OPAP

OPAP, Greece’s leading gaming operator, has significantly impacted the market’s growth. The company reported a total gaming revenue of €6.6 billion, underscoring its importance in the sector.

OPAP’s Diverse Offerings

OPAP offers a wide range of gaming products, including:

Land-Based Casinos: A Steady Growth

While online betting dominates, land-based casinos have also shown resilience, reporting a 7% year-on-year increase in TGR.

Casino Revenue Insights

Between January and August, land-based casinos generated approximately €1.3 billion ($1.41 billion).

Tax income from betting companies has seen an increase of approximately 13.5% during the first eight months of 2024.