In 2011, the Greek state set out the framework for internet gambling. OPAP holds the exclusive rights until 2030 for all games operated online and Stoixima and games under this umbrella until 2020. OPAP’s online sector was launched in June 2014 and new betting content is now being planned with the aim of attracting more customers and reducing access to illegal online products
In 1969 new systems were implanted in the
selection of the coupon and payout for agents was raised from five percent to 10 percent. During the 1970s Greek football grew rapidly
and OPAP saw a big demand with more agencies and gross profit multiplying significantly. Te sportsbook consists of pre game and live
betting and live betting saw a 207 percent increase last year and live betting accounted for almost 14 percent of total sportsbook revenues. Football is the most popular sport (91.6 percent of Pame Stoixima turnover) and the World Cup saw revenues top €157m.
OULOOK Te privatisation of ODIE (horse racing agency)
finally went ahead in October last year after several delays and false starts. Parliament voted to privatise the country’s
sole licence for horse racing betting and OPAP was handed the licence and it is hoped this will bring new life into the dwindling sector. Te privatisation of ODIE was on hold last
year. Te loss making ODIE is state owned and was over €200m in debt to the government. Te government agreed with the European Commission to liquidate the organisations although it is seeking to privatise the organisation’s exclusive mutual betting rights at racetracks first to help keep horse racing alive in Greece. OPAP applied to take up the licence and last
year became the provisional successful bidder for the licence although delays and failure to complete the privatisation means Intralot is now suing the organisation. Last year the privatisation agency HDRAF scrapped previous bids after only receiving a bid
from Intralot. Ten OPAP and Intralot submitted bids for the 20 year licence. But Greece has repeatedly missed privatisation targets due to lack of investor interest and regulatory problems. It wants to raise €22bn by 2020. OPAP joined up with British fund manager,
Global Family Partners, to put in a joint bid not less than €40m but above the €5.2m initially offered by Intralot. Under the agreement OPAP will pay a 30 percent tax on GGR from horse race betting operations which saw revenues of €65.4m in 2013. Meanwhile as the VLT market grinds to a halt
amid changes in regulations it is thought OPAP will reach an agreement with the regulators given the country’s need for tax revenue amid its financial crisis. It has left VLT giants IGT and Scientific Games without movement.
NEWSWIRE / INTERACTIVE /
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