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Sports Betting Market of Greece Nearing Record High

2018 is a great year for the sports betting market of Greece. If their revenue numbers continue on with its upward slope, they may achieve a new record in revenues for this year. Mostly, the credit goes to the FIFA World Cup held in the middle of the year.

There are around 24 operators for online gambling services who have transitional licenses. These operators have earned a total wagering collection of €3.23 billion. They have a revenue of €182.8 million in the first half of the year alone. Getting the best pay per head sportsbook will help you earn a slice of the sports betting revenue pie.

Sports Betting Market of Greece: Then and Now

Looking at the numbers this year, the turnover is around 24% higher than what these operators have earned in the same time frame last year. The reported year-on-year revenue total is higher by 40% this year. Of course, the government collected €64 million, 30% more than last year.

In 2017, The operators have a combined turnover at around €5.3 billion. Their revenues for 2017 are €280.6 million. Looking at the 2017 numbers, and the first half of 2018, one can clearly see how the revenues for this year is in the direction of breaking records.

The boost in the numbers is also very encouraging for operators, because it will help their case in requesting for permanent gambling licenses as opposed to their current transitional licenses. The price is steep, however. The license, which is good for 5 years, costs €4 million for sports betting, and an additional €1 million for online gambling products. The government also plans to collect 35% of the gross gaming revenue of operators. In addition, bettors will have to pay taxes on their winnings as well, which start at 15% at wins over €100, and climbs up to 20% if bettors win more than €500. There is a small window not for operators to contest the steep fees, but no one will know until the proposed bill will be signed into law.

 

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