Greece’s gambling industry recorded a notable upturn in 2024, posting solid year-on-year growth across both traditional and digital channels. According to the annual report released by the Hellenic Gaming Commission (EEEP), the total amount wagered across all forms of legal gambling reached €15.65 billion—an adjusted figure known as Total Gaming Revenue (TGR)—reflecting a 7.8% increase compared to €14.42 billion in 2023. Gross Gaming Revenue (GGR), which represents the industry's actual earnings after payouts, rose even more sharply, up 11% to €2.87 billion.
OPAP, the country’s largest gaming operator and a former state monopoly, continued to dominate the land-based sector, generating €1.435 billion in gross revenue from its betting shops and video lottery terminals (VLTs). Online platforms also played a significant role in the market’s performance, contributing €1.066 billion through digital sports betting and casino games.
The EEEP report offers a detailed view of the local market, shedding light not only on the economic performance of the sector but also on consumer trends and the ongoing prevalence of illegal gambling operations.
Gambling through physical retail outlets still accounts for the lion’s share of legal revenue in Greece, with a 49.9% slice of the total GGR. Remote gambling, primarily through online platforms, represents 37.1%, while casinos hold an 8.8% share. The remaining 4.3% comes from national lotteries and horse racing.
Over the five-year period from 2020 to 2024, the most popular games in OPAP’s land-based network were KINO, the sports betting game Pame Stoichima, VLTs-which were first introduced to the Greek market in 2017 - and the lottery-style Joker game. These four games alone formed the backbone of OPAP’s earnings, with KINO being the top performer.
Meanwhile, the country’s land-based casinos, once seen as luxury destinations, have been slowly recovering from the downturn caused by the COVID-19 pandemic. In 2024, their gross revenue reached €252.8 million, a 9.5% increase compared to the previous year. Slots continued to dominate, accounting for 59% of total casino revenue, a trend that has been crystallizing since 2005. This shift away from traditional table games reflects a broader change in player preferences, leaning toward games that are technologically driven and require little or no knowledge of complex rules.
Among the table games that remain popular in Greek casinos, American roulette leads in terms of revenue, followed by blackjack, poker, and Banco Punto. Notably, certain table games commonly found in other countries - such as American dice, baccarat, and Caribbean Stud Poker-are not currently offered in Greek casinos.
However, one of the more pressing issues outlined in the EEEP’s report is the persistence of illegal gambling. A nationwide survey conducted by the Commission in collaboration with Kappa Research revealed that around 10% of Greek adults-roughly 800,000 people-engaged in gambling through unlicensed platforms during 2024. Interestingly, the majority of these individuals (72%) also participated in legal gambling activities, while 28% were exclusively involved in the black market. The total amount wagered illegally was estimated at €1.67 billion, a figure that remained relatively unchanged from the previous year. On average, individuals spent €2,089 on unlicensed gambling, not including any winnings that were reinvested. Salaried employees and freelancers made up the majority of this demographic, together representing 58% of illegal gamblers.
In terms of overall participation, gambling remains a widespread pastime in Greece. More than half of the adult population—59.91%—reported playing at least one type of gambling game in 2024. The activity is more common among men (71%) than women (29%). The largest segment of players falls within the 35 to 49 age group, followed closely by those aged 50 to 64. Educationally, most players had completed secondary education, though nearly 29% held university degrees.
The majority of players came from households earning between €12,000 and €20,000 annually, and most said they spent no more than 30 minutes a day on gambling. Online games and KINO were the preferred choices among this time-conscious audience.
