Greek online market to reach $1,879 million by 2029

Garance Limouzy August 16, 2024

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Greek online market to reach $1,879 million by 2029

The online gambling market in Greece is growing and is expected to continue doing so, according to recent forecasts. With projected revenues reaching $1,576 million in 2024 and an anticipated annual growth rate of 3.58 percent from 2024 to 2029, the market will reach a volume of $1,879 million by the end of the decade.

The average revenue per user is expected to reach $1,080 in 2024, with the total number of users projected to increase to 1.838 million by 2029. The user penetration rate in the Greek market is expected to be at 14.2 percent in 2024, leaving room for growth.

Sports betting

Online sports betting is a standout performer among the various regulated Greek verticals, with a projected market volume of $860.10 million in 2024. The popularity of sports in the country, particularly football, has been driving demand for sports betting services.

iGaming is leading the growth

Greeks are increasingly turning towards digital platforms, which are more convenient and accessible, through websites and mobile applications. This shift is particularly evident among younger consumers who are more comfortable with online transactions. Among online gambling options, live dealer games are becoming increasingly popular.

Political and economic landscape

The growth of the online gambling market in Greece has been largely influenced by the country’s regulatory framework. The Hellenic Gaming Commission (HGC) has established a licensing system that ensures a regulated and secure environment for online gambling operators and consumers. This system replaced the transitional licenses that were in place until 2020-2021, leading to an increase in gross gambling revenue as operators adapted to the new rules.

Despite the regulated environment, it is estimated that around 10 percent of Greek players still gamble?on the black market, according to the Hellenic Gaming Commission.