Greek gaming on the rise

Figures released for the 2014 fiscal year by the Hellenic Gaming Commission (HGC) show a 9 percent increase in wagers placed amounting to Euro 5.9 billion.

The rise in results break a five year drought affected by legal uncertainty, a tough economic environment and cash-strapped consumers.

Despite the positive upswing, results remain markedly down from the previous high of Euro 8.7 billion recorded in 2009.

Of the Euro 5.9 billion in total stakes, OPAP took Euro 3.8 billion while Hellenic Lotteries accounted for Euro 500 million of the total amount, effectively 72 percent of the market.

ODIE, the Greek horseracing association, garnered 1 percent of stakes wagered and casinos the remaining 27 percent.

Euro 525 million in taxes fattened Greece’s State coffers.

In related news, the HGC published its eighth blacklist edition listing 461 operators deemed to be operating illegally in the market.

The updated version can be accessed at: https://www.gamingcommission.gov.gr/images/epopteia-kai-elegxos/blacklist/blacklist.pdf