Greece On Target to Open Up Internet Betting

Currently, Greece has a monopolistic system for gambling. It has vowed to change this to comply with EU rules and open up to internet betting. The betting monopoly currently in place, OPAP will still be around for some time. OPAP has an exclusive license to operate online betting and lottery in the country until 2025. The Greek government's strategy has been to take the lead of the French. Their aim is to open up the internet gambling market and maintain strict control on everything else. Doubts have been raised that an open sports book market in Greece could smash OPAP's monopoly.
OPAP is trying to make sure that it will benefit from interest and increasing profits available through online gambling. They have made plans to boost their company profile via the web, using online strategy as a more cost effective way of turning a profit, through betting.
The gaming market in Greece is estimated to be worth about €10 billion annually. OPAP controlled sports betting is estimated at approximately €2 billion. Numbers games are worth approximately €3 billion, casino gambling and horse racing add up to less than €1 billion, combined.
Greek gamblers make up a large part of the international online casino and sports betting business. Cypress also attracts a large number of Greek customers. Many thousands of illegal slot machines and unlicensed sports books attract a large number of Greek customers.

Recently, the Greek government announced that it would sell off their 34% stake in OPAP, in 2025. They have called for a tender of the national lottery and will sell their holdings in land based casinos as part of a state asset sale. The aim of this is to raise €50 billion to help pay the country's debt to the International Monetary Fund.