Online Gambling Helps Greek Gambling Revenues

This story was published more than 2 years ago.

Greece's gambling market grew in 2017 thanks in large part to more online gambling from punters, boosting tax revenues by more than €35 million.

Key financial indicators for the year ending December 31st, 2017 were:

  • Gross gaming revenue tax of €662 million, up €35 million from the year prior
  • Online operator revenues were up €23 million from the year prior, although firm numbers weren't available
  • Unlicensed Video lottery terminals (VLT) numbered 100,000, which don't contribute to the regulated industry.
  • OPAP net profit down to €126 million
  • OPAP revenues up 4% to €1.45 billion
  • OPAP taxes paid amounted to €16 million

Greece's regulated market is largely run by OPAP, which serves as a monopoly run by the government and restricting potential growth of the market. Still, the industry has shown potential for growth, with many punters enjoying sportsbetting services in the country.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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bgsharpe
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26 April 2018 - 5:01pm
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Yeah obviously Greek online market is still not fully developed and like Dustin wrote the potential for growth is quite huge there, no wonder that the sportsbetting is the most preferred way of gambling, it's something usual for these parts of Europe I think.