Posted on: April 29, 2022, 08:30h.
Last updated on: April 29, 2022, 01:35h.
Following the revival of Greece’s online gaming market last year, more operators continue to show interest. Two new operators hope to join the space, and recently submitted their applications for iGaming licenses.
Greece’s online gaming market is on the rebound after a 10-year forced hiatus. Recent legislation opened the door for new operator licenses, with a number of companies, including Flutter Entertainment’s PokerStars, already joining the space.
Two new operators filed applications for licenses for online games this week. They are now being processed by the Gaming Supervision and Control Commission (EEEP, for its Greek acronym) and could soon be ready to launch.
Brobet Limited and Elladix Limited submitted applications for Type 1 and 2 licenses. Type 1 licenses authorize sports betting, while Type 2 gives operators the ability to host online casino games.
Brobet is a company registered in Malta but with headquarters in Bulgaria and is behind the effbet betting brand. Elladix is also registered in Malta, but doesn’t appear to have any live operations.
Greece iGaming Market Expands
Online gambling has been one of the fastest-growing sectors of the gaming market. Greece is ready to capitalize on it, and expects up to €1 billion (US$1.05 billion) in gross gaming revenue within two years.
Since last August 2021, the EEEP has continued to accept applications from companies seeking licenses. Before approving any applications, it conducts thorough audits of the companies’ operations and finances.
The online gaming market has become attractive for many companies. Greece has emerged as a strong option for the gambling market, based on a 2021 report by gaming authorities. In particular, games conducted on the Internet occupy a share of 77.55% of the total turnover, while the land-based segment holds a share of 22.45%.
Responsible Gaming Measures Coming
Greece’s Gaming Supervision and Control Committee (EEOC, for its Greek acronym) has plans to improve the country’s gaming industry. It is creating a 24-hour service that will be in operation to supervise and support the benefits of online games and physical casinos.
The aim is to continuously control and support all benefits for any problem in the gaming space. It will address those issues and determine resolutions in real-time. Currently, online gaming providers send monthly reports of their daily activity. This is not effective in addressing critical flaws or customer issues.
The EEOC will staff the center with existing personnel. It will also include new employees that the EEEP now has the ability to hire.
At the same time, the competition for the “electronic eye” of the committee is in progress. This will be an advanced system that will monitor all providers of electronic games licensed by the EEEP. This is similar to a system already in place for land-based casinos.
The EEEP will choose a contractor in the tender before the end of the year. Afterwards, that operator can install the new system and offer an online connection to all the data of all gaming providers.
Based on the status of the licenses they have received, licensed online betting companies will have to enable the EEOC to monitor in real-time both their revenue 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. The operators will also need to maintain their data in a digital environment to support the initiative.