Greece has been in the spotlight over the last few years, with numerous igaming and sports betting companies eyeing up new opportunities within the market.
In its latest report, titled Greek Betting Focus, BtoBet analyses the changing regulatory landscape and the factors contributing to the market’s “promising outlook”.
The report begins: “The Greek betting and gambling market has a rich history deeply rooted in the country’s cultural heritage. Greece has a long tradition of games and chance, with gambling being prevalent in various forms for centuries.
“In recent years, the market has undergone significant changes and regulatory reforms, shaping the landscape for both operators and players.”
We’ve seen a number of gambling companies enter the Greek market as of late, which has arguably contributed to its growth in 2022.
Data from the country’s regulator, the Hellenic Gaming Commission, shows that total turnover totalled €29.2m last year, up 14.7% the previous year. Total gross revenue also increased significantly during the same period, reaching €2.3m, representing a “remarkable change of 26.3% compared to 2021”.
The report continues: “In 2022, online fixed odds betting showed a significant preference for in-play betting, which accounted for 76.08% of the turnover (TGR) from real events. On the other hand, pre-match betting contributed to 23.92% of the turnover.
“Similarly, the gross gaming revenue (GGR) derived from in-play betting represented 79.5% of the total GGR from real events, while pre-match betting contributed to 20.5% of the GGR.
“This trend was also observed in 2021, where in-play betting generated 71.89% of the TGR and 60.89% of the total GGR for real events.”
You can read the full report HERE