Greece online market booms

In its first year of reporting, online streaked ahead of the land-based gambling sector in the Greek market recording Euro 356 million in gross profits for the first eleven months of 2018 compared to Euro 222.82 million in the terrestrial market.

According to mononews.gr, the fifteen operators active in the online sector recorded Euro 124.5 million in revenue in the months up to November 2018, while contributing Euro 70 million in taxes to the State Treasury.

In total, Government tax revenues for both the online and terrestrial casinos sector for the first eleven months 2018 was around Euro 180 million, surpassing 2017’s Euro 179.48 million.

Active online firms have been operating under temporary licenses since 2011, with a formal framework and new internet gambling law seemingly not on the horizon in the short or medium term despite Greek Finance Minister Euclid Tsakalotos’ best efforts.

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