Greece’s gambling market generated €3.07bn in gross gaming revenue in 2025, a 6.7% increase year-on-year, as online gambling extended its lead as the fastest-growing segment. The figures come from the Hellenic Gaming Commission (EEEP) Newsletter #36, published on 31 March 2026.
Online Leads the Market
Online gambling GGR rose 11.7% year-on-year to €1.19bn, accounting for 38.8% of total market revenue. The segment’s share has expanded steadily, driven by mobile adoption and continued player migration from retail to digital channels. EEEP data identifies online casino games as the highest-activity vertical among Greek consumers, a pattern that directly informed the government’s decision to target that category in upcoming tax changes.
Land-based casinos recorded GGR of €268m, roughly 6% above the 2024 figure. OPAP, the market’s dominant operator, generated €1.49bn from its retail agencies and VLT network. Lottery GGR edged down marginally to €114m from €116m the year before. OPAP completed its combination with Allwyn in March 2026 to form what is now the world’s second-largest listed lottery operator.
For broader context on OPAP’s standalone performance, the operator’s full-year 2025 results showed GGR of €2,407.9m, a 4.9% increase and a new record, though margin pressure from higher operating costs weighed on EBITDA.
Operator Traffic: Who Is Winning Online Attention
Traffic figures cited here are estimated monthly visit counts derived from web analytics platforms including SimilarWeb and Ahrefs. A visit represents a single session to the operator’s domain — one user navigating to the site and interacting with it, regardless of how many pages they view. The data covers the Greek-market domains of licensed operators and reflects patterns over a comparable monthly period. These figures are directional rather than audited and should be read alongside licensed GGR data for a fuller picture of competitive position.
| Domain | Visits | Mobile share | YoY |
| stoiximan.gr | 14.82M | 73.95% | ↑3.41% |
| novibet.gr | 10.4M | 85.29% | ↑8.9% |
| bet365.gr | 6.85M | 88.47% | ↓2.31% |
| betarades.gr | 2.3M | 90.34% | ↑4.65% |
| winmasters.gr | 1.67M | 87.94% | ↓3.12% |
| bwin.gr | 1.52M | 86.34% | ↓10.64% |
| foxbet.gr | 1.36M | 84.85% | ↑4.6% |
| interwetten.gr | 1.03M | 94.10% | ↑18.52% |
| netbet.gr | 977.79K | 93.82% | ↑26.9% |
| vistabet.gr | 848.09K | 90.59% | ↑16.3% |
| sportingbet.gr | 672.93K | 87.82% | ↓21.58% |
| opap.gr | 391.39K | 80.23% | ↓12.3% |
| bethome.gr | 386.43K | 88.43% | ↑6.89% |
Stoiximan.gr leads the market on traffic by a clear margin, recording 14.82 million visits and a 3.41% year-on-year increase. Novibet.gr follows at 10.4 million visits, with 8.9% growth — the strongest year-on-year gain among the top three. Bet365.gr ranks third at 6.85 million visits but posted a 2.31% decline. The mobile share across all operators is striking: every domain in the tracked group exceeds 73% mobile visits, with Interwetten.gr reaching 94.10% and Netbet.gr at 93.82%. The two also recorded the sharpest year-on-year growth in the group, up 18.52% and 26.9% respectively, suggesting both operators are gaining traction at the expense of more established names. On the other side, Sportingbet.gr fell 21.58% and bwin.gr dropped 10.64%, while OPAP’s own digital domain, opap.gr, declined 12.3% to 391,390 visits — a figure that reflects the operator’s continued dependence on its retail network and VLT estate for the bulk of its consumer interaction.
The competition dynamics visible in the traffic data sit against the backdrop of two significant corporate developments. Allwyn completed its full combination with OPAP in March 2026, creating a listed entity valued at approximately €16bn with Allwyn holding a 78.5% stake in the combined group. Separately, Allwyn’s attempt to acquire a 51% stake in Logflex MT Holding, Novibet’s parent company, ended in March 2026 after the Hellenic Competition Commission issued a Statement of Objections. The HCC found that the deal risked eliminating competitive pressure in the Greek online market, noting that Novibet had been the only operator capable of mounting a sustained challenge to OPAP’s market leadership since 2021. With the deal off and Allwyn now the outright owner of OPAP’s retail and online operation, Novibet enters 2026 as the market’s primary independent challenger — a position its traffic growth figures suggest it is defending with some effectiveness.
Tax Revenue and the July 2026 Rate Increase
The EEEP data distinguishes between two streams of state income. Government revenue from operator licensing reached €696m for 2025. Separately, state income from the taxation of player winnings rose 16% to €463m.
A further increase is already legislated to take effect from 1 July 2026. Under the new structure, the tax on player winnings between €100 and €500 rises from 15% to 20%. Winnings above €500 will be taxed at 30%, up from the current 20%. Sports betting is excluded; the government targeted online casino products specifically because of their higher activity levels relative to other gambling verticals. Both changes are permanent.
The commercial risk is real. When player-facing tax rises, operators typically absorb a portion of the burden to remain competitive on effective RTP, even when the levy is formally applied to the player rather than the licensee. The July 2026 rate increase was originally legislated as part of an emergency fiscal package and is expected to generate approximately €100m in additional annual revenue.
Illegal Gambling Crackdown
The growth data sits alongside a sustained enforcement push. In February 2026, the government presented legislation to parliament amending Article 52 of Law 4002/2011, introducing prison sentences of up to ten years and fines reaching €800,000 for unlicensed operators. Penalties for influencers and affiliates promoting illegal sites were also introduced.
The bill was presented to Cabinet on 26 February 2026 by Minister of National Economy Kyriakos Pierrakakis. The enforcement drive is grounded in EEEP data showing that the shadow market costs the regulated sector an estimated €400m in annual tax revenue. A separate estimate puts the illegal market’s total turnover at €1.67bn.
The risk the crackdown is trying to contain cuts both ways. A 2024 study ranked Greece among the most expensive gambling markets in Europe on a per-player basis. Research cited by the regulator found a meaningful share of players would consider turning to unlicensed sites if the cost of licensed play rises materially. The growth of the online segment makes that migration risk a live policy concern rather than a theoretical one.
With online GGR now representing 38.8% of total market revenue and growing faster than any other segment, the Greek market is set to become a test case for whether tighter fiscal policy and stronger enforcement can coexist with channelisation objectives. Both the July tax increase and the new criminal penalties take effect before the end of 2026.
Source: Hellenic Gaming Commission (EEEP)
