4H AGENCY
This market overview was prepared by Ivan Kurochkin, Head of Eastern Europe Desk, Partner and one of the founders of 4H Agency.
After 10+ years’ experience in consulting every type of clients from the testing laboratories to global operators and B2B providers on a variety of matters related to the gambling operations, Ivan has proven himself to be a business- oriented
multi-jurisdictional advisor for entering new markets across the globe. His background helps him to choose the best and most efficient scenarios for expansion to new market or for bringing existing operations of the Agency’s clients to a significantly new level.
If you are considering venturing into the markets of CIS countries or seeking expert advice on navigating the complexities of the gambling industry, Ivan is the go-to person. Take action now and reach out to Ivan to explore how 4H Agency can support your endeavours in the vibrant and evolving landscape of the CIS region.
4H Agency is a global gambling advisory. We provide expert guidance to B2C operators and B2B providers, spanning market insights, payments, product localisation, regulations, licensing, public affairs, and more.
ik@4h.agency
t.me/Ivan_Kurochkin https://4h.agency
GOVERNMENT AUTHORITIES
Hellenic Gaming Commission (HGC or EEEP or Ε.Ε.Ε.Π)
https://www.gamingcommission.gov.gr
NO. OF LICENCES ISSUED u
Land-based casinos – 9. u Online casino – 19.
u Online sports betting – 16. u B2B providers – 73. COST & TERMS OF THE LICENCE
1) Land-based casino license (term depends on the tender concession agreement)
Tender fee offer for land-based casino license depends on the location of the casino and varies from ~US$ 831,800 to ~US$ 34m*.
*Converted from GRD to EUR, valid as of March 2012: 1 EUR = 340,750 GRD
2) Online casino license (seven years)
Application fee for online casino license amounts to ~US$ 11,300. Te license fee amounts to ~US$ 2,2m.
3) Online sports betting license (7 years)
Application fee for online sports betting license amounts to ~US$ 11,300. Te license fee amounts to ~US$ 3,4m.
4) B2B license (5 years or indefinite)
Application and annual fee for the license depends on the type of B2B provider and varies from ~US$ 56 per game to US$ 1,700.
KEY ADVERTISING RESTRICTIONS
In Greece, gambling advertising is tightly regulated: u
Ads must never target or appeal to anyone under 21, as well as avoid any themes, visuals, or language associated with minors.
u
Ads cannot suggest that gambling is a normal part of growing up, a sign of adulthood, a way to improve personal status, or a form of financial investment, as well as avoid misleading claims about the chances of winning or portraying gambling as beneficial to the community.
u
Ads must include responsible gambling warnings and contact information for support services.
u
Ads require prior approval from the regulator.
u
Online ads like pop-ups or overlays that obstruct browsing are prohibited.
Advertising of gambling is also banned before, during, or after underage sports events, children’s TV or radio programs, and in cinemas showing films for a young audience. Outdoor ads must stay at least 200 meters away from schools and youth housing. Promotions cannot advertise bonuses, gifts, or discounts related to gambling participation.
Affiliates are not allowed to advertise directly to players or cooperate with unlicensed operators. Sponsorship activities must clearly display the +21- age limit and cannot be linked to minors or school-related events.
LOCAL MARKET SPECIFICS
Te Greek gambling market has gone through a complex regulatory journey. After banning all forms of online gaming in 2002, authorities issued temporary licenses in 2011. For nearly a decade, the market was dominated by a state-run monopoly, limiting competition and private investment.
A major shift occurred in August 2020, when the HGC introduced a permanent licensing framework for online gambling, allowing operators from Greece and the wider EU/EEA to apply for official licenses.
Despite this progress, the market still faces some challenges. Te state retains a monopoly over online betting and slots, restricting fair competition. Additionally, the flat 35% gross revenue tax on online operators remains one of the highest in Europe, discouraging some international brands.
Still, Greece benefits from a highly active and EU-oriented regulator that ensures full market transparency and communication with industry stakeholders. Combined with the sector’s historically high revenue levels, strong consumer demand, and a stable legal environment, these factors give Greece substantial long-term growth potential, especially if future reforms ease access and reduce the tax burden.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172 |
Page 173 |
Page 174 |
Page 175 |
Page 176 |
Page 177 |
Page 178 |
Page 179 |
Page 180
