In the midst of the Mediterranean's azure waters, Greece's allure shines with an irresistible blend of ancient history, sun-soaked beaches, and vibrant culture. Beneath this captivating surface, Greece embraces modernity and innovation, with remarkable shifts across various sectors, including the dynamic iGaming landscape.
The iGaming landscape in Greece is at the cusp of remarkable expansion, driven by changes characterised by innovation and backed by a commitment to responsible gaming. The Greek iGaming market is set to reach €1.2 billion by 2025, achieving an impressive CAGR (compound annual growth rate) of 14% from 2020 to 2025. This surge is fueled by the escalating popularity of iGaming in Greece.
Anastasios Belesis, seasoned Lotteries Consultant, draws upon his extensive experience to provide valuable insights into the potential of the Greek Gaming Market.
The Greek gaming market has demonstrated a remarkable rebound from the Covid-19 imposed restrictions. GGR (Gross Gaming Revenue) increased over 26% from 2021 to 2022 and will increase further in 2023. Whereas online gaming shows a steady growth, retail sales are also increasing. The healthy mix between online and retail is the driving growth factor for the upcoming years.
Greece’s iGaming market on the rise - Now is the time to enter
Greek iGaming players are drawn to exciting games with the potential for big wins - Casino games and sports betting are the most popular, and the rise of in-play betting caters to players’ real-time engagement. Crash games are also gaining ground for their simplicity and high payouts. Operators are subsequently taking steps to ensure that responsible gaming remains a priority, measures such as information dissemination, spending limits and self-exclusion options have been implemented. This reflects in the steadfast governmental commitment to responsible growth and innovation.
Beneath Greece's rich cultural heritage lies an evolving iGaming landscape, brimming with promise. Revealing an industry undergoing profound transformation, there has been a seismic shift toward in-play betting that is reshaping the Greek market, accounting for a staggering 76% turnover in 2022. This trend is echoed in gross gaming revenue, where in-play commands 79.5% of the share. It's a testament to the synergy between regulatory evolution and dynamic player inclinations, propelling Greece toward an era of unprecedented iGaming growth.
Committed To Responsible Gaming
This thriving Eastern-European iGaming hub is setting new standards for responsible gaming. The country is following in the footsteps of other European countries, such as the United Kingdom and Malta, which have implemented strict regulations and taken a proactive approach to responsible gaming. This has helped to create a sustainable and growing iGaming market in these countries. Propelled by the European Esports and Integrity Coalition (EEEP), a transformative responsible gambling framework is being forged. The pursuit of player well-being has resulted in integrated systems, training protocols, and a comprehensive player registry. Greece's commitment to fostering integrity and safeguarding vulnerable players resonates through this endeavour.
Latest industry developments in Greek iGaming
Notable shifts in the iGaming landscape have paved the way for brands such as Soft2Bet to enter the Greek market, underscoring the market's allure amidst 17 licensed operators aiming for superior gaming experiences. Kaizen Gaming, known for its innovation, has partnered with leading operator Stoiximan, expanding its reach to a broader customer base. Notably, Kaizen Gaming is also expanding its range of live dealer games, in response to the growing demand of this in the Greek iGaming market. Both Stoiximan and Bet365 have diverse product offerings, including a wide range of casino games, sports betting, and other iGaming products. This and their commitment to responsible gaming further distinguish them. Positioned to seize these trends, companies like these epitomise Greece's iGaming evolution, inviting stakeholders to embrace this dynamic transformation.
Regulatory Progress - Greece’s journey to secure A Thriving iGaming Market
In 2021, Greece embarked on a transformative journey through comprehensive legislation. This landmark move established a regulated market overseen by the Hellenic Gaming Commission, introducing stringent requirements including licences and rigorous financial and technical benchmarks.
The Greek iGaming market is growing rapidly:
- Law 4726/2020, passed by the Greek Parliament in July 2021 for the legalisation of iGaming;
- Unsurprisingly mobile gaming is becoming increasingly popular in Greece - with 60% of Greek iGaming players using mobile devices to access iGaming products and services;
- iGaming operators are required to have a physical presence in Greece with a clear regulatory framework.
Your Platform To Connect With The Greek Market
The rapid growth of the Greek iGaming market presents a number of opportunities for businesses to get involved, as there is a strong demand for innovative products and services. In this environment, the 3rd Annual Edition of the Gaming & Affiliate Marketing Event (GAME) 2023 emerges as the definitive platform to seize these opportunities.
As the Greek iGaming market accelerates, GAME Greece stands as the linchpin that transforms insights into action. Hosted at the magnificent Electra Palace Athens from 19 - 20 October 2023. Eventus International is curating an assembly of the industry's foremost experts and thought leaders. Don't miss the opportunity to secure your spot at an event that promises intimate networking, enlightenment, and a launchpad for innovation that will shape the future of the iGaming landscape. https://www.eventus-international.com/game
