The online gaming market in Greece is entering a period of significant restructuring. This assessment is mainly based on the growing interest of new international providers, who are examining the prospects of the Greek market and preparing their entry into it. At the same time, competition is intensifying, while the new bill that tightens the operating framework of the industry with the aim of limiting illegal gambling is in public consultation.
As of next month the new tax regime for online casino-type games also comes into force, adding another parameter to the developments shaping the landscape.
Although approximately 17 licensed providers are active in the Greek market, the picture remains strongly concentrated. A dominant position is maintained by the Allwyn group, which through Stoiximan and Allwyn’s digital activities gathers a share approaching 60% of the market. In second place is Novibet with approximately 17%, while the rest share the remaining portion.
However, the high concentration does not seem to discourage new international groups from claiming a place in the Greek market. Even acquiring a relatively limited share can translate into significant revenue and appreciable profitability. It is, after all, an industry that generates steady revenue for both businesses and the state through taxation, which explains the continued interest despite growing competition and a tighter regulatory framework.
