Online gaming

The Greek online gaming market will add two new operators

Posted on: April 29, 2022, 8:30 a.m.

Last update: April 29, 2022, 01:35 a.m.

Following the revival of the Greek online gaming market last year, more and more operators continue to show interest. Two new operators are hoping to join the space and have recently submitted their applications for iGaming licenses.

Acropolis in Athens, Greece
The Acropolis in Athens, Greece, above. The country’s iGaming marketplace will soon add a few more options. (Picture: Britannica)

The Greek online gaming market is rebounding after a 10-year enforced hiatus. Recent legislation has opened the door to new operator licensing, with a number of companies, including Flutter Entertainment’s PokerStars, already joining the space.

Two new operators filed license applications for online games this week. They are currently being processed by the Gaming Supervision and Control Commission (EEEP, for its Greek acronym) and may soon be ready to launch.

Brobet Limited and Elladix Limited have submitted applications for Type 1 and Type 2 licenses. Type 1 licenses allow sports betting, while Type 2 gives operators the ability to host online casino games.

Brobet is a company registered in Malta but headquartered in Bulgaria and is the originator of the betting brand effbet. Elladix is ​​also registered in Malta, but does not appear to have live operations.

The Greek iGaming market is growing

Online gambling is one of the fastest growing sectors of the gambling market. Greece is ready to take advantage of this and expects up to 1 billion euros ($1.05 billion) in gross gaming revenue within two years.

As of August 2021, the EEEP continues to accept applications from companies seeking licenses. Before approving any application, it conducts thorough audits of business operations and finances.

The online gaming market has become attractive to many companies. Greece has emerged as a solid option for the gambling market, based on a 2021 report from gaming authorities. In particular, games made on the Internet occupy a share of 77.55% of total revenue, while the land segment holds a share of 22.45%.

Upcoming Responsible Gambling Measures

The Greek Gaming Oversight and Control Committee (EEOC, for its Greek acronym) has plans to improve the country’s gaming industry. It creates a 24 hour service that will be operational to oversee and support the advantages of online games and physical casinos.

The goal is to continuously monitor and support all benefits for any issues in the game space. It will address these issues and determine the solutions in real time. Currently, online game providers send monthly reports on their daily activity. This is not effective in resolving critical defects or customer issues.

The EEOC will staff the center with existing staff. It will also include new employees that the EEEP now has the capacity to hire.

At the same time, the competition for the “electronic eye” of the committee is underway. This will be an advanced system that will monitor all electronic game providers authorized by the EEEP. This is similar to a system already in place for land-based casinos.

The EEEP will choose a contractor from the tender before the end of the year. Then this operator can install the new system and offer online connection to all data from all game providers.

Depending on the status of the licenses they have received, licensed online betting companies will have to allow the EEOC to monitor in real time both their income and all the movements that take place.

This is possible by interconnecting the information systems of the gaming platforms that will operate in Greece with the EEEP. Operators will also need to keep their data in a digital environment to support the initiative.