Online Gambling in Greece Shows Revenue Growth in 2020

Gross online gambling revenue in Greece grew by 34.46% in 2020, with €628 million in taxes and fees from gambling. This is reported in the report of the Greek Gambling Commission (EEEP). According to the regulator, most of the revenue came from sports betting (60.5%), which is 13% less than in 2019. The second in terms of profit in 2020 was the online casino (36.5%) with an increase in performance compared to the previous period (in 2019, 23.9%). As stated in the document, a significant part of the income from the gaming industry received by the Greek treasury, which is 354.8 million euros, was provided by the state operator OPAP. The rest of the online market operators contributed 233.6 million euros. In addition, the EEEP report contains the results of a survey of Greek residents about their attitudes towards gambling. It turned out that 81% of men and 68% of women have ever gambled. At the same time, in the age range from 18 to 34 years, the share of such players turned out to be 80%. The overwhelming number of respondents (80%) answered that they devote less than one hour a week to gambling; 7% of Greeks play from one to three hours a week; and those who devote more than 20 hours a week to games, there are 1%. As for the finances that players are willing to allocate from their budget, 59% of those surveyed spend an average of 10 euros; 25% of respondents willingly part with 10-25 euros; and only 1% said their costs exceeded 300 euros. As My Lucky Story previously reported, the Greek authorities intend to create a modern gambling and entertainment complex in Athens in the building of the former Ellinikon Airport. Let us add that within the framework of the Ellinikon project, five largest investors have declared their desire to participate in it. Gambling companies are interested in acquiring a license and participate in the tender. In addition, a project is being developed in Greece to build integrated casino resorts. The approximate investment volume of the Hellinikon facility is eight billion euros.