Online gambling drives Greek market to €3.07bn

• Greece’s total gambling GGR reached €3.07bn in 2025, up 6.7% year-on-year, according to the Hellenic Gaming Commission.
• Online gambling was the fastest-growing segment, with GGR rising 11.7% to €1.19bn.
• State tax revenue from player winnings jumped 16% to €463m, ahead of further increases taking effect in July 2026.

Greece’s gambling market generated €3.07bn in gross gaming revenue in 2025, a 6.7% increase on the prior year, as online gambling continued to outpace the rest of the industry.

The figures were published by the Hellenic Gaming Commission (EEEP) in Newsletter #36, released on 31 March 2026.

Online leads growth

Online gambling GGR grew 11.7% year-on-year to €1.19bn, accounting for 38.8% of total market revenue and representing the strongest performance of any segment.

EEEP data identifies online casino games as the highest-activity vertical among Greek consumers, a key factor in the government’s decision to target that product category for upcoming tax increases.

Land-based casinos also registered growth, recording GGR of €268m, approximately 6% above the 2024 figure. OPAP remained the dominant force in the Greek market. The operator just completed its merger with Allwyn in March 2026 to form the world’s second-largest listed lottery operator.

Revenue from its retail agencies and VLT network reached €1.49bn, though lottery GGR edged down marginally to €114m from €116m a year earlier.

Tax and enforcement pressures

The EEEP data distinguishes between two streams of state income from gambling. Government revenue from operator licensing totalled €696m for 2025. Separately, state income from taxation of player winnings rose 16% to €463m, with a further increase already legislated to take effect from 1 July 2026.

Under the new rates, the tax on winnings between €100 and €500 will increase from 15% to 20%. Winnings above €500 will be taxed at 30%, up from 20%. The changes are permanent.

Sports betting is not affected; the government targeted online casino products specifically because of their higher activity levels relative to other forms of online gambling.

The increases carry commercial risk. Industry observers note that operators often absorb a portion of the tax burden to remain competitive, even when the levy is formally applied to players.

Illegal gambling crackdown

In February 2026, the government presented legislation to crack down on illegal gambling, introducing prison terms of up to ten years and fines of up to €800,000 for unlicensed operators, along with penalties for influencers promoting illegal sites.

The bill amends Article 52 of Law 4002/2011 and was presented to Cabinet on 26 February 2026 by Minister of National Economy Kyriakos Pierrakakis. Driving the reform is EEEP data showing the shadow market costs the regulated sector an estimated €400m in lost tax revenue annually.

The tax increases and enforcement drive come against a backdrop of wider concerns. A 2024 study ranked Greece among the most expensive gambling markets in Europe on a per-player basis, and research has found that a significant share of players would consider turning to unlicensed sites if licensed play becomes less economically attractive.

With online GGR now representing 38.8% of total market revenue and growing at a faster rate than any other segment, the direction of the Greek market will be closely watched by operators across the region. How regulators balance fiscal objectives with the risk of pushing players toward the black market is set to be the defining regulatory question for the remainder of 2026.