The Hellenic Gaming Commission’s annual report for 2024 indicates that the total GGR for the gambling market in Greece was €2.88 billion, a growth of 11.0% from the previous year. Of this total, remote gambling GGR reached €1.07 billion, which also showed a significant growth and a market share of 37.1% of the total GGR. However, the largest share of 49.9% still comes from land-based gaming. That leaves room for more migration to digital platforms rather than indicating that the online market is already saturated.
As a result, the concept of a Greek hub is getting more attention. This is a story not only in terms of demand but also in terms of market structure. A country could have a higher amount of supplier and operator activity if it has strong online growth. At the same time, the land-based base is still large enough to support future channel shift.
Why Operators Keep Watching Greece
The regulatory landscape is another important factor. The online licensing regime in Greece has identified two primary types of licenses: online betting and other online games of chance. This contrasts with other markets in which the scope of products licensed online has been fragmented and or constantly reworked. HGC online licensing information and announcements continue to provide the basis of the regulatory framework in the market.
The HGC annual report also publishes information on online licensed operators in the market. From this perspective, the market appears to be competitive but not overcrowded relative to larger European jurisdictions.
The Constraint Behind the Growth Story
The same HGC materials also demonstrate the reason why growth is not the only point of interest here. The regulator points to ongoing levels of illegal gaming activity, including online, and characterizes it as a key risk that is constantly evolving. In the public summary of the 2024 report, the HGC cites research that indicates the extent of adult participation in gambling, a solid share engaging in illegal gaming, and ongoing issues in player protection.
The regulator has also enhanced its supervision capabilities with the enforcement of the blacklist and a self-exclusion register for online gambling. HGC has also acknowledged the staffing pressures despite the improvements made in 2024. So, the growth of the market is undeniable, but it is also true that the regulator’s capabilities are a crucial determinant.
Final Words
The Greek narrative is attractive, but not because it looks easy. The reason behind its appeal is that growth is visible, the rule of law is in place, and the next chapter will reward operational discipline far more than aggressive market entry. To market participants, this means one thing: Greece is becoming a playground in which execution quality counts just as much as product quality.
