The 4th Greek Online Gaming Day, held at the five-star Grand Hyatt hotel, was a resounding success. The conference highlighted the most significant challenges, opportunities, and strategies expected to shape the future of online betting and gaming, both in Greece and internationally, as well as the serious problem of illegal gambling.
The conference was organized by the Hellenic Gaming Association (HGA)—whose regular members include Novibet, Winmasters, NetBet, Fonbet, and Interwetten—in collaboration with CLEON Conferences & Communications, and featured prominent speakers.
The event was attended by representatives of the government, regulatory authorities, licensed providers, technology companies, law and consulting firms, financial institutions, as well as top executives and industry experts.
HGA President Christos Panagopoulos, in his opening remarks and presentation of the topics, emphasized, among other things: “Online gaming is not a get-rich-quick scheme or a form of addiction, but a form of entertainment. That is how we must view and approach it. The industry has grown significantly in recent years, making it a very dynamic sector of the country’s economy.
The industry has been growing for many years now, with prospects for further growth in the coming years. We are an industry that generates revenue for both the government and its investors, with high turnover. Companies employ a great many people in Greece and abroad. They are at the cutting edge of technology as an online medium, offer good compensation, and contribute to economic growth.
Our industry is not some… second-class sector. As gaming companies, we generate revenue and must pay taxes to the state, especially at a time when every euro is incredibly valuable. There is a significant tax burden, and we want to be heard—not to lower taxes, but to balance certain aspects within the industry and protect it from illegal gambling. Illegal gambling is growing at an alarming rate; according to previous studies, there is an untaxed turnover of around 2 billion euros that is being siphoned off from the market.”
In his opening remarks, Secretary General for Sports Giorgos Mavrotas stated: “Illegal betting is a significant threat. It harms the state, which loses tax revenue; it harms legitimate betting companies due to unfair competition; and it harms the players themselves. Essentially, it is the breeding ground for match-fixing.
Match-fixing is largely linked to illegal betting. While legal operators can be traced, illegal ones operate in complete secrecy, making any investigation impossible. It is an international problem, without borders, and requires international cooperation. Tackling these threats is... a team sport, and you need teammates with whom you must build trust.
As for the taxation of profits, a portion goes toward sports. In previous years, it was 66 million, and now it’s over 80. We can see the results in the growth of sports, both at the club level and in our national teams.”
The event was moderated by lawyer and journalist Antonis Papagiannidis. It began with opening remarks by the Deputy Minister of National Economy and Finance, responsible for Tax Policy, Dimitris Markopoulos; the Director of the Independent Authority for Public Revenue, Giorgos Pitsilis; the Chairman of the Hellenic Gaming Commission (EEEP), Antonis Bartholomew, and the Chairman of the Cyprus National Betting Authority, Panagiotis Trisokkas.
During his speech, Markopoulos noted: “The online gaming market is one of the fastest-growing sectors of the global digital economy. It is not merely entertainment, but a complex ecosystem. In recent years, the market has shifted toward a fully interconnected environment. It follows the norms of collective digital evolution. Just as society as a whole is going digital, so too has our government made great strides in the digital realm.
Technological advancements in this field are impressive, and further convergence with virtual reality is expected in the future. You face major challenges: protecting players’ personal data, combating hacking and cheating, and, in my opinion, most importantly, protecting minors.”
In addition, the Deputy Minister referred to the recently passed law, explaining some of its provisions, and emphasized that he is always “open” to consultation with the industry so that, where necessary, the required collaborations can be established to further adapt the market.
For his part, Pitsilis stated: “The issue of player protection is becoming increasingly important. The sector is evolving rapidly from a technological standpoint, and where such evolution occurs, legislation becomes more difficult. It is very important to have rules that ensure fair taxation and provide us with the necessary oversight tools.
The new provision that was passed aligns with the international framework while also establishing a very specific framework of its own. The amounts of money involved are enormous, and we must be certain that, when an attempt is made to launder money, we will be ready to act. As for myDATA, it was a decisive factor in the reduction of VAT in the country and added credibility to the country’s economy.”
Mr. Bartholomew then shared his views on the market and the recent bill: “In 2025, approximately 900,000 citizens—10.55% of our population—gambled and participated in illegal gambling activities. The estimated turnover is close to 2 billion euros, which means that 400 million were lost to the Greek state. The new regulatory framework represents a significant step in this direction, strengthening the role of the Gaming Supervision and Control Commission, which is being upgraded to a more powerful and modern regulatory body.
One of the most significant changes is the shift from a reactive model to one of active prevention and timely intervention. Technology is constantly evolving, and illegal activities quickly adapt to new circumstances. For this reason, continuous cooperation is required among authorities, providers, and all stakeholders.
A significant issue is the illegal promotion of unlicensed providers via the internet and social media. The Hellenic Gaming Commission (HGC) has identified cases of influencers advertising illegal platforms and has taken the necessary steps with the relevant authorities.
A few days ago, a lawsuit was filed against 18 influencers, five of whom have a combined total of over 3 million followers—many of whom are minors—who were promoting illegal betting companies. The authority’s goal is to address such practices responsibly, protecting society and creating a safer environment for citizens.
The new European regulations establish a unified regulatory framework, strengthening cooperation among countries and setting stricter requirements for regulated entities.”
HGA Deputy Director General Antonios Alexiou provided an overview of the online betting industry in 2025. Referring to the Greek market, he noted that it is on a positive trajectory, with significant revenue growth and strong expansion of the online channel, particularly in the online casino segment. At the same time, he emphasized that major investment projects in the casino sector are expected to further strengthen the market and create new growth opportunities.
He placed particular emphasis on the need to combat illegal gambling, noting that market growth is assessed not only by financial metrics but also by whether it takes place within a safe and legal framework. As he noted, combating illegal gambling is one of the top priorities for the coming period. He also referred to the growing use of digital channels and influencers by illegal platforms, emphasizing the need to adapt regulatory tools to the new digital realities.
The key figures presented in the speech reflect both the momentum and the challenges of the online gaming market. The Greek market is experiencing significant growth, with public revenues approaching 1.2 billion euros.
The gaming market recorded growth of 52%, while online betting continues to be the main driver of growth, with a growth rate of approximately 12%. The online casino segment is particularly dynamic, posting growth of approximately 19%, confirming the shift in consumer habits toward digital platforms. At the same time, data from the first quarter of 2026 showed market growth of approximately 18% compared to the same period in 2025.
According to the survey data presented, approximately 1 in 2 adults has participated in gambling, while the 18–24 age group has the highest participation rate, at approximately 58%. The largest percentage of gamblers report spending up to about 40 euros per session, while a smaller but significant percentage—about 9%—report monthly spending of more than 300 euros.
Special mention was made of the issue of illegal betting, as it is estimated that approximately 10% of the public has participated on illegal platforms. The number of such users is estimated at approximately 1.8 million people, with an average estimated expenditure of nearly 2,000 euros. At the same time, the blacklist of illegal websites includes more than 14,500 sites, a fact that demonstrates the scale of the challenge facing regulatory authorities.
In the context of strengthening oversight, it was also reported that fines totaling approximately 1.7 million euros have been imposed for violations related to illegal activity and promotion.
This was followed by the first panel of the day, focusing on “Economic and Tax Parameters in the Online Betting Industry.” Speakers included Deloitte partner Nikolaos Dimitrakopoulos, lawyer and former Deputy Minister of Sports Giorgos Vassiliadis, and Novibet’s tax director Ioannis Kyrifidis.
Lefteris Anastasakis, Vice President of the consulting firm PRIORITY, presented research on illegal betting and participated in the second panel on “Illegal Betting – Current Situation, Analysis & Future Prospects.” Joining him were Christos Barkas, Head of Fraud Detection at Eurobank; Galinos Yaglis, co-founder and CEO of OCM Digital Media; George Mavrotas, Secretary General for Sports; and Tasos Vassios, representative of the HGA.
“To put this into perspective,” said Anastasakis, “the legal market in Greece generates revenue of approximately 1.2 billion euros. The key point is that illegal gambling is estimated to account for about 50% of the legal market. By way of comparison, it was noted that the total gambling market in Cyprus is at similar levels, a fact that illustrates the magnitude of the challenge facing Greece.
Tackling illegal gambling is not just about protecting the market and public revenue. There is a very important social dimension, which primarily concerns the protection of players, especially vulnerable groups.
One of the most concerning factors is the link between illegal gambling and addiction. Easy access through digital channels creates conditions where users may be exposed to unregulated platforms, lacking the necessary safeguards in place in the legal market.
“Gambling addiction is a particularly serious phenomenon, with consequences not only for the gambler but also for their family and social environment,” Anastasakis said.
Following up on his remarks in his opening address, the Secretary General for Sports added: “The McLean Convention is an important international tool for protecting the integrity of sports and combating the manipulation of sports competitions. This phenomenon cannot be addressed solely at the national level, as illegal betting and related practices are now international in nature and require coordinated action, cooperation, and the exchange of information among all stakeholders.
Within the framework of the Convention, the prevention, detection, and combating of match-fixing are promoted, with an emphasis on cooperation among government authorities, sports organizations, regulatory bodies, law enforcement agencies, and betting service providers.
At the same time, the Convention places particular emphasis on combating illegal betting, providing for measures such as curbing illegal online activity, combating illicit financial flows, tackling illegal advertising, and enhancing consumer awareness.
“The effective implementation of the principles of the McLean Convention is a fundamental prerequisite for ensuring a safe and reliable sports and betting environment, protecting both athletes and fans as well as the integrity of sports itself.”
Paidby’s SVP of Sales and Relationship Management, Isabella Fragou, gave a presentation on “The New Payments Landscape in Gaming” and handed the floor over to the third panel of the day, which focused on gaming’s contribution to media and sports. Speakers included Theocharis Filippopoulos, President of the Online Publishers Association; Stathis Georgopoulos, Head of the Legal Department at the Association of Private National Television Stations (EITISEE); Stathis Georgopoulos, and the affiliate partnerships manager of the digital sports media group Better Collective, Marialena Kotoula.
The fourth and final panel, which was dedicated to responsible gaming and strategies for player protection, featured Interwetten’s team lead for legal processes and group DPO, Viktoria Müllner, sales engineer and sports coach Filippos Oikonomou, and Dr. Pete Tsolis, academic director of business programs and assistant professor of entrepreneurship at Hellenic American University.